Every CIO, CSO, IT Security manager and data compliance manager spend most of their time trying to outsmart hackers and prevent corporate confidential data from being leaked into unauthorised hands. It’s almost an everyday occurrence that systems and networks have been breached, and in the process important data has been compromised.
When a data breach occurs, the risks are plentiful: damage to brand equity, the burdensome costs of notifying affected customers, possible exposure of intellectual property, and failure to comply with government regulations.
According to research by the Ponemon Institute the average total cost—including notification costs, loss of customers, and increased difficulty in acquiring new customers—was £1.4 million per breach in the UK for 2008.
If you are a high profile organisation, be it in the private or public sector, your networks will be regularly tested by hackers for weaknesses in the network. Some organisations report even experience hourly attacks on their networks.
The question is what happens when or if the hackers successfully gain access to your network? When this happens you want to make sure that all confidential data is impossible to get at.
All your data will exist in file formats, the data in these file formats could be structured or unstructured. Structured data could be in form of database formats and spreadsheet formats, while unstructured data could be word processor formats, graphic formats, presentation formats and other generic formats like emails and text. If these file formats are protected by a level of encryption that makes it easy for the legitimate file owners to distribute those files to whomever they want, but at the same time keep the unauthorised users out.
Enterprise Rights Management, commonly called Enterprise Digital Rights Management (eDRM) is your last line of defence against hackers. Loosely defined, eDRM refers to products that allow enterprises to enforce confidentiality and need-to-know restrictions on file contents. So when all your efforts of protecting your network’s data have been compromised, eDRM persistently protects your data wherever it may be located.
Failed attempts to access files protected by eDRM are even logged; hence eDRM solutions contain strong monitoring and reporting components. These provide compliance auditors or security investigators with detailed records of “who, what, and when” on a file-by-file or user-by-user basis.
Apart from being the last line of defence against a security breach eDRM is helping organisations to take control of their confidential data and is especially good fit for firms with a well-understood pool of valuable confidential data used in day-today business processes. Examples of this type of data include financial spreadsheets, strategy documents, new product development presentations, merger and acquisition plans, human resource compensation reports, sales information legal contracts and intellectual property.