We are witnessing a paradigm shift in the way we manage our business. It demands an effortful perspective change by an enterprise leader. I am listing five critical points about an enterprise that we never thought were critical. It’s worth zooming in.
Loss of Value by Attrition
Let me explain this in a few examples that you can relate to your organization.
Over the years, your organization may have spent millions on Exhibitions, Advertisements, Cold-Calling, Digital Marketing, and Business Development to generate, nurture leads, create sales funnel, and build a customer base. With every attrition in the sales team, it goes to the competitors.
Over the years, your organization may have spent millions on research and development in terms of technical resources, equipment, software codes, trials, tests, prototypes, and of course, the owner’s contribution to creating Intellectual Property Rights. With every attrition in the technical team, it goes to the competitors.
It can just sneak out through USB Pendrive, Email Attachments, or Internet Cloud Drives.
It is high time we zoom in on the methods of data leakage and theft to protect such intangible but immense value.
Loss of Profitability by Compliance
Let me explain this in a few examples that you can relate to your organization.
With most of your organization’s large or overseas customers, there would be an NDA (Non-Disclosure Agreement). They are signed without any provisions to prevent data leakage.
Regulatory Compliance is getting stricter and stricter. Be it compliance obligation of a share broker, clinical research company, pharma company, hospitals, banks, an insurance company, telecom company. It will lead to additional costs incurred on cybersecurity, DLP, and liability insurance. It will have a direct impact on the profitability of your organization.
It is the right time we zoom in on such unforeseen liabilities and provide for it.
Business Continuity and Opportunity Cost
What if all the digital assets of your organization are lost due to accidental deletion, intentional deletion, ransomware, hardware crash, laptop theft, or disaster? Your organization cannot continue the business. The opportunity cost is enormous in terms of damages, loss of reputation, loss of business, efforts to recreate data, and competitive exploitation.
We have started depending on digital data unprecedentedly. We can’t continue with the same tools.
It is high time we zoom in on how we sharpen our tools to ensure Business Continuity.
Cloud or No Cloud
Every enterprise leader is facing this dilemma. There is no point in going with the cloud just because everyone is talking about it. Cloud adoption requires a detailed assessment of your organization compliance obligations, sensitivity to data leakage, the volume of data, and expense factor in the Internet Bandwidth. It is the right time to zoom in on the fitment of cloud solutions specific to your organization’s operations.
BYOD and Work from Home
Post COVID19, BYOD (Bring Your Own Device), and Work from Home are the new normals. We must evaluate all concerns expressed above in light of Data Loss, Leakage, Theft possibilities, Compliance Obligations, and Liability Assessment. You cannot wait anymore to zoom in on the best Work from Home and BYOD solutions to take care of Data Protection. Check this Video.
These are those five criticals worth zooming in on. We can help you audit your requirements and understand your concerns. We can help you focus on these critical points and take prudent decisions.
Best Regards,
Vishal Shah
Founder and CEO,
Synersoft Technologies Private Limited
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