In the world we live in today, data, not capital, is a company’s most valuable asset. By now, business owners should recognize the importance of securing their hard-earned data. A 2021 report found that data compromises increased 68% when compared to 2020. Additionally, almost 86% of these 1,862 data compromises were as a result of a cyberattack.
Now, you might be thinking,
- “I’m careful about who I share my data with and have a great password and network security.”
- “No way cybercriminals are coming after my company. We’re just a small business with less than ten employees. They have no idea we even exist!”
- “Our company has well-defined security protocols for what data employees can share, how and with whom.”
This is the mindset that frequently gets people, small and midsize enterprises (SMEs), and large enterprises in trouble. Cybercriminals want access to the wallets and datasets of large enterprises, but they expect SMEs to have fewer security safeguards in place, making them an easier target.
That’s a common situation for our SME customers as they often lack the resources of larger enterprises. As result, SMEs have been hit particularly hard with an inordinate amount of social engineering attacks aimed at stealing data (350% more, in fact!) compared with their larger, enterprise-level counterparts. With the average cost of a data breach at $149,000, all of this is taking a toll on our SMEs.
Who Needs a DRM Solution that Focuses on Data Security and Privacy?
In short: everyone needs to consider a Data Rights Management (DRM) solution when it comes to protecting their sensitive data. Despite the continued negative impact of data breaches, many are still sitting on the fence when it comes to investing in a data security solution.
That said, our customers represent a few industries where the right solution protects intellectual property and also secures confidential data and files. Perhaps some customer examples will inspire you to rethink your need for a DRM solution.
Creators of Art, Music, Video, and More
Your art, whether it is a painting, photography, videography or musical composition, is your intellectual property. Today much of this work is in a digital format, making it vulnerable to thievery. This is especially true when you consider the rise in popularity, and price, of art, like NFTs. In fact, NFTs, which can be valued in the millions of dollars, are a target for cybercriminals. Customers with this type of intellectual property are investing in data security solutions to protect their digital files and keep their hard-earned intellectual property in their own hands.
Chain of Custody
The chain of custody is the most critical process of evidence documentation. In one Nebraska county, 66 cases were dismissed due to chain of custody issues. Our customers in law enforcement and other fields recognize how crucial and difficult it is to safeguard digital evidence, such as audio and video files.
Patient Data and Therapeutic Protocols
The days of paper patient records and notes are long in the past. Now, therapists need to maintain digital records, including insurance information and protected health information (PHI), and ensure they are secure and follow HIPPA. This data continues to be a big target for cybercriminals who look to use stolen data for their own profit. As more patients are seeking customized solutions to their ailments, many therapists have developed propriety therapies that they want to keep safe. Both keeping patient data secure from cybercriminals, and intellectual property out of the hands of competitors, are excellent reasons why our customers in this discipline need a DRM solution.
Current DRM Approaches Leave Much to be Desired for Data Security
Whether you’re a solopreneur, operate a SME, or are responsible for data security in a large organization, it is important to be able to confidently share proprietary and sensitive data. Whether it is a media file, video content, learning management content, therapeutic sound files, tax forms, financial statements, travel documents or employment information all need to remain safely in your control. If this reflects your situation, carefully evaluate your DRM-specific platforms. Like any technology, some are better than others. Gain insight into their limitations, checkout their licensing agreements, and understand how the data can be shared and who it can be shared with.
Keep in mind that DRM solutions often rely on a single platform where the data lives. If the data is removed from the platform, you can lose control of the data. This can create a single point of failure for you and your company. Further this can make invoking DRM incredibly clunky, and it doesn’t allow the data to be licensed broadly.
Let’s use the iPod to illustrate the point. One of our customers has used the iPod to share proprietary sound files. With the iPod being discontinued by Apple in 2022, this hardware will no longer available to use as a safe and secure distribution mechanism. The iPod example illustrates the challenge some of our customers faced when they implemented outdated forms of DRM or DRM tied to a specific platform.
Additionally, while companies can license files through current DRM systems, they are generally unable to revoke access, shred the files, etc. if they suspect data abuse or misuse. Nor do current approaches track the chain of custody.
In the digital world we live in today, every company needs to feel confident in their ability to not only revoke access to data, but also have an immutable record of where their data is located and who can access it. Their reputation, and bottom line, depend on it.
Need to Reimagine Your Data Security? Look to EB Control
How have our customers solved their DRM issues? They have deployed EB Control. With EB Control, you can retake control of your data. Forever. EB Control provides Zero Trust Data Access and Protection, including a chain of custody across the life of the data, and ensures the data has not been accessed by someone who is not authorized to use the file.
Further, the EB Control platform allows you to store your data in “mobile vaults” that protect it no matter where it goes. As Zip is to compression, EB Control is to encryption. There is no need to log into a central portal to view files. Since EB Control is a peer-to-peer solution, encryption and decryption happen on the user’s local device. Further, policies are set, by you, the data owner, around who can access the data, where they can access the data and for how long they can access the data.
If all of this sounds expensive and complicated, it isn’t. Which is why our SMEs find it to be an ideal solution. The intuitive EB Control platform makes it incredibly simple for every data owner to invoke DRM and share sensitive the data on essentially any platform or device. Click here and learn more about how EB Control can make DRM seem like less of a chore and more of a differentiator.