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The digitized document revolution comes with inherent concerns about properly securing all this information. Companies need to incorporate the highest levels of document-management security.
With the advent of 5G technology and Industry 4.0 putting more pressure on businesses to fast-track their digital transformations, the demand for document-management solutions has exploded. The worldwide market for document-management software is projected to reach $10.17 billion by 2025. Along with this revolution comes inherent concerns about properly securing all this information. Documents often contain sensitive and private information that, if compromised, could be detrimental to individuals, businesses or governments. That is why companies need to incorporate the highest levels of document-management security.
Related: Keep Your Information Moving At The Speed Of Your Business
With the continued release of new vulnerabilities regularly and the ease at which a digital document can be compromised — compared to a physical piece of paper — ensuring the security of those documents has become more important than ever to keep private information from being exposed.
It is common to read the news and learn about a new security breach. Impacting small and large companies, nearly 2000 data breaches occurred in the first half of 2022 alone. To many companies, their data is among their most valuable assets, so it must be protected.
Ransomeware, a form of malware designed to encrypt files and deny users access to them until a demand ransom is paid, is one clear threat. Phishing attacks, where hackers try to get account credentials (username and password), represent an ongoing and ever-evolving danger. Hackers typically lay low for a time, then eventually start logging in as that user so as not to draw suspicions. Then they download documents that the user can access or, if sophisticated enough, attack network administrator privileges.
Just who is trying to hack into systems to get documents? Anyone who can find value in the type of data a company possesses. Hackers typically don’t know the type of data a company possesses until they get their hands on corporate documents or know enough about a company to recognize the types of information that might be available, such as financials or employee personally identifiable information (PII). It’s really any documents that they can use for profit.
Numerous outsourced document-management vendors exist in the marketplace today, and not all are created equal when it comes to offering the highest levels of security. Below are four necessary security features to look for from a document-management partner:
Related: How To Develop Security Policy For Your Company
In addition to wanting the best technology solutions to help facilitate the digitization of documents, companies should also make security a top priority. Whether you have a Chief Security Officer, Chief Technology Officer, Head of IT or are working with a third-party service provider, there are several best practices that companies themselves should implement to ensure they’re doing their part to secure their digital documents:
To obtain the highest levels of security for digital documents, collaboration on strategy should involve all stakeholders — including document-management providers, IT, security and operations.
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