Data isn’t just an asset—it’s the lifeblood of most organizations. As businesses continue to amass vast amounts of information, the exposure to potential breaches grows exponentially. According to IBM, the global cost of data breaches continues to rise, with the average incident now costing companies $4.88 million in 2024, up 10% from the previous year.
Yet surprisingly, security often remains an afterthought in data management strategies, creating vulnerabilities that can prove costly.
The Growing Threat of Data Breaches
Data breaches represent far more than security incidents—they’re existential threats that can unravel years of carefully built revenue streams and customer trust. As organizations’ digital footprints expand and data volumes grow exponentially, the stakes continue to rise. Companies face mounting pressure to protect sensitive information while maintaining operational efficiency, a balance that becomes increasingly precarious as traditional data-sharing methods evolve and regulatory frameworks grow more complex. The potential impact of these breaches scales with our growing reliance on digital systems, making them one of the most significant risks facing modern organizations.
Why Data is a Prime Target
- Value: Personal and corporate data can be sold on the dark web or used for identity theft.
-
Ransom: Cybercriminals can encrypt data and demand payment for its release.
-
Competitive Advantage: Stolen intellectual property can give competitors an unfair edge.
-
Political Motives: State-sponsored attacks may target sensitive government or infrastructure data.
The Challenge of Modern Data Sharing
Many organizations still rely on physical data sharing methods, creating unnecessary risks in an increasingly complex digital world. Modern approaches offer more sophisticated solutions, including the ability to quickly revoke user access and remove shared data—a crucial feature for modern, enterprise-scale organizations. The modern data sharing capabilities offer greater security, stronger governance and enable effective data sharing needs in real-time. However, companies often struggle with the “how” of implementing these solutions, particularly from a business process perspective.
Building a Security-First Framework
At Perficient, we understand that effective data security isn’t inherited—it’s built through careful planning and regular evaluation. Our approach centers on three key principles:
- Tactical Assessment and Planning: We specialize in quickly assessing an organization’s current security posture and developing actionable plans for improvement. No two companies are identical, so this starts with understanding where you are and creating a custom roadmap to where you need to be.
- Relationship-Driven Implementation: Success in data security isn’t just about the technology—it’s also about people and processes surrounding it. We work closely with key constituents across your organization, recognizing the industry-specific requirements and regulations that often drive security needs.
- Principle of Least Privilege: We advocate for and implement the practice of providing users only the minimum access necessary for their roles, significantly reducing potential exposure points. This is incredibly important not only in creation of roles and user accounts but constantly reapplied on a routine basis.
Taking Action
Organizations looking to strengthen their data security posture should start by:
- Evaluating current data sharing processes and identifying potential vulnerabilities
- Implementing modern data-sharing solutions that offer greater control and visibility
- Developing clear protocols for access management and regular security assessments
- Create industry-specific frameworks that align with regulatory requirements
- Constantly reevaluate the security posture to realign to business needs
- Conduct regular cybersecurity training to educate employees about phishing scams, password security, and recognizing suspicious activity. Employees are often the first line of defense against breaches caused by human error.
Moving Forward
As data continues to grow in volume and importance, organizations can’t afford to treat security as an afterthought. By taking a proactive approach to data security and working with experienced partners, businesses can better protect their most valuable asset while maintaining the efficiency they need to compete in today’s market.
Security isn’t a one-time implementation—it’s an ongoing process requiring regular evaluation and adjustment. Every data implementation, regardless of its primary purpose, has security implications that need to be carefully considered. This is why we emphasize the importance of building frameworks that incorporate more secure steps from the ground up.
Remember: data security isn’t just about preventing breaches—it’s about building a foundation for sustainable business success. Learn how Perficient can support your data security needs.
