This digital world demands for extra protection. Since everything is saved in a digital form these days, we must ensure our important data is well protected. This is mainly important for all the regulated industries. Healthcare, banking, education and other finance related companies should focus more on protecting their data. All these companies hold the sensitive data of their clients. This data needs protection.
Now when we are living in a digital world, our daily basis activities and everything other thing has gone digital. With the rising digitalization, the threats and cyber-crime is also increasing. This is why many companies have started to take help from external service providers. To strengthen your data security, you too should focus on getting extra security. So if you are one of them, then here is what all you need to know in order to protect your data from getting stolen.
Why Regulated Industries Require Data Security?
Well, data security is needed for all. No matter which industry you work at. Your and your client's data should be protected properly. Cyber threats can release viruses and ransomware in your server to steal these sensitive data.
If we talk about regulated industries, then we need to understand which all profession come under this category. Those industries that are governed by certain standards become regulated industries. They are governed by law and directed on how the data should be collected, stored and processed in a right manner. They also issue the right way of protecting the data.
For government and defence related industries then they are regulated to follow ISO and NIST standards. Financing departments need to focus on PCI DSS and SOX regulations. Healthcare department should follow HIPAA and HITECH.
One thing to remember is that if any of these industries fail to follow these regulatory norms then penalties can be severe. Not only on professional level but also at personal level. You may end up losing trust from your customers. With that, you may also end up facing a financial loss. This is why regulated companies require more sophisticated data protection.
Other than this, there are many other reasons why a regulated industry may need external data security providers.
- Better and advanced data security: External data security providers often have advanced technology for data protection. These companies invest huge amount on getting the perfect data security equipment. That is why their data security much better and at advanced level than ours.
- Constant monitoring: Cyber attack can happen anytime. It is not possible for IT department to keep an eye on data 24x7. But these external service providers keep a constant track of your data. They monitor is regularly so a quick response to any cyber threat can be given.
- Professional expertise: One of the important part of choosing external data security is their advanced expertise. Cyber norms are ever changing. It is difficult for a normal company to keep a track and abide by them. But these third party providers are expert in compliance and following regulations.
- Pocket friendly: One of the best part about external data providers is that they are cost efficient. From hiring to bringing it out into the use, everything is budget friendly and can be afforded by all easily. You are basically getting high security at a less price.
- No more burden on IT team: These third party providers ensure that your IT department stays burden free. As most of the work is done by this third party, your IT team can avoid from getting overwhelmed.
What to expect from third party data security services?
External Service Provider for Data Security Protection in Regulated Industries works wonder! They help these industries to stay within the law and data protection regulations. Their services are well structured. These services help you ease your online burden. All the online actions become easy to operate. And of course, your data stays protected around the clock! Although any online threat can attack your system any time. But these third party ensure that the response to these attacks is quick and efficient. Other than these benefits, you can get:
- Regular audits and assessment to keep you regulated
- Compliance management to ensure proper documentation
- Structures cloud platforms to manage configurations and access controls
- Continuous monitoring for better protection
- Extreme infrastructure security
- IAM (Identity Access Management) solutions that will ensure that no one other than authorized members can access the system
- Quick incident response
- Data recover in case of cyber mishaps
- Forensic investigation if data breach occurs
- Lastly, full sensitive data protection
Pro tips for choosing the right third party:
Now when you know everything about external service provider for data protection, you should also know how to choose the right one. Making the right choice is necessary. Here is how you can find the best suited external service data provider:
- Check their compliance certifications
- Choose the provider that has proven experience in this industry
- Ensure that all the agreements are strong and define their responsibilities properly
- Be clear with data ownership
- If needed, look for customizable solutions
- Try to avoid those packs that are made commonly for all
- Take a test or thoroughly check their market reviews
Final thoughts
Now you understand how important it is for every regulated industry to secure their data. Data security is not optional anymore. It has become a need, a must have, irrespective of the field of company. External services for data protection maintain a structure a proper regulatory compliance. Along with protecting your data, they ensure a 24x7 observation and monitoring for any threat. If you have found the right partner for your data security then you can benefit from them at vast level. Be wise and follow our pro tips before signing up with the third party. Do thorough background check of your selected providers to ensure total safety of your and your client’s data.
FAQs
- Should regulatory industry must adhere to suggested security norms?
Yes, regulatory are be default liable to follow the suggest norms of data security. ISO, NIST, PCI DSS, SOX, HIPAA and HITECH are some common regulation norms that are to be followed by these industries.
- What do third party data security system offers?
Third party data security provides you an all over data protection and monitoring system. They ensure that your company follows data protection standards and maintains a good level of security system.
- How can I choose the best security provider?
Before finding the right data security provider, ensure their market reviews and industry experience. Follow our pro tips to find you the best data security provider.
