Why you should factor in Enterprise Digital Rights Management (EDRM) in your digital transformation journey
Everyone is jumping on the bandwagon of digital transformation. Fueled by various factors such as improving operational efficiency, improving new product quality, meeting changing customer expectations, etc., every enterprise now views digital transformation as a must to preserve their business.
According to Research & Markets, 2020, the global digital transformation market is projected to grow from $469.8 billion in 2020 to $1,009.8 billion by 2025 at a compound annual growth rate of 16.5% during this period. 70% of the organizations have a digital transformation strategy or are working on one.
While digital transformation brings in lots of benefits to the enterprise, the flip side is they create new vulnerabilities and expose security issues leading to data loss, data breach, financial loss, and reputation breach. The last thing any enterprise needs to deal with is major data breaches.
According to Breach Level Index, over 9.7 billion data records have been lost or stolen globally since 2013 as a result of data breaches and cybercrime. Data security can no longer be side-lined, it has become an integral part of the business. Enterprises must start moving towards a more resilient approach that provides constant data protection.
Important security challenges that enterprises face in digital transformation
Large-scale deployment of IoT (Internet of Things) devices creates a more complex security landscape. Vulnerabilities are introduced through negligent program designs that create opportunities for malware or misuse among a wide variety of applications and devices. How can operations, security, and development teams apply a consistent approach to secure their data?
2.Ineffective data management
Data should be properly collected, organized, stored, and logically displayed to be used efficiently. However, working in siloed systems makes it difficult to consolidate this information and make it centrally available. Applying proper data security measures also becomes difficult when information is scattered across the organization which makes it easy prey to cyber-attacks.
3. Lack of defined strategy
Digital transformation does not only mean a technology change. It is much deeper than that. It involves a change from the top to the bottom layer of the enterprise. Too often, enterprises do not have a clearly defined strategy for digital transformation and therefore end up bogged down by their unrealistic expectations and poorly defined data security measures. A successful digital transformation involves clear-cut ideas, well-defined strategies, and effective data management and security policies and implementations.
4. Changing customer needs
Customers have access to various devices and they expect a seamless online experience that is convenient as well as secure. Enterprises should make informed decisions to meet the changing demands of the customer while ensuring the security of the data being shared among employees, third-party vendors, between organizations, etc.
5. Information exchange with third-party vendors/suppliers
Information exchange is inevitable, especially in industries like design and manufacturing. However, such data exchanges with third-party vendors and suppliers may not always be secure. There is very little control over the practices and maturity levels of the third-party vendors/suppliers/partners, which may result in a lower data protection standards.
Data being moved or aggregated by different backup systems may end up in the wrong hands and may result in data breach, where the data you have shared is compromised or exposed. Also, traceability of the data is an issue because it is time-consuming and may rely on variables outside your purview.
6. Adhering to data security laws
Data security laws are designed to protect consumers, employees, and businesses themselves from breaches, improper use, destruction, leaks, and more. One common mistake that enterprises make is that they believe that adhering to data security compliance alone will make the business secure. However, since each organization is different, compliance laws cannot account for the intricacies of each one.
While we have listed some of the common data security challenges there are much hidden ones like a disgruntled employee stealing business data etc. So how does an enterprise mitigate such data security risks?
The best option available for enterprises is to select a suitable Enterprise Digital Rights Management (EDRM) solution according to the business needs.
EDRM solutions address the data protection needs of the enterprise allowing it to collaborate and share information across internal and external stakeholders. The most widely popular EDRM solution available in the market today is Microsoft EDRM.
Microsoft EDRM and data security
Microsoft EDRM is the cloud-based protection technology used by Microsoft Purview Information protection. It helps to protect files across multiple devices by using encryption, identity, and authorization policies.
Enterprise Digital Rights Management solution protects the files and travels with the file wherever it is shared and data access is controlled even if it is no longer in the network. EDRM encrypts the file and not just the storage and assumes that any environment is not safe.
EDRM is not only about strong encryption but it also has two important features that make it a preferred solution for digital process data safety.
- Access control – Access control in EDRM has data usage or user privilege control inside the application. This is a powerful yet technically complex feature. This feature makes Microsoft EDRM superior compared to other similar products in the market. Microsoft EDRM provides a good user experience while hiding the complexity.
- Usage control – Usage control in Microsoft EDRM makes the entire security process very robust. This ensures that only the authenticated user can access the file anytime, anywhere. Other than the authorized user, no one can access the data out of the secured environment that is the application itself.
SECUDE and Data Security
Being a strategic partner of Microsoft and SAP, SECUDE is the only solution provider with the capabilities to extend MIP to SAP, PLM, and CAD environments.
SECUDE’s HALOCORE solution takes over where SAP currently does not – at the point of data egress. It also provides end-to-end protection of sensitive SAP data exports throughout their lifecycle.
Similarly, HALOACAD extends the security templates provided by MIP to the complete lifecycle of CAD & PLM documents.
Digital Transformation is becoming a must for all organizations whether small, medium, or large enterprises. When you take care of data security in that journey of transformation you can rest assured that your data is secure. But for that, you need to invest in a robust Enterprise Digital Rights Management solution.
Factoring in EDRM is also tricky, so read our blogs on the common pitfalls in EDRM implementation and how to successfully implement an EDRM solution.
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