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The hidden costs of Sharepoint Data Breaches


01/04/17 01:00

Since its introduction in 2001, SharePoint has become one of the greatest tools for business and organisations around the globe who depend on the productivity and efficiency of SharePoint to centralise data and information for quick and easy access. Unfortunately, the dawn of a new era in information-based technology has brought a new wave of hackers. While most of us know that there are dangers out there, we don't always take the measures necessary to keep ourselves safe from these online threats.  While we all know that data breaches will funnel you and your company into a spider web of problems, we don't realise the actual impact. The hidden costs of SharePoint data breaches are tremendous, but there are ways to protect yourselves in a changing world.

Where do the costs of data breaches come from?

According to a study conducted by the Ponemon Institute and IBM, the consolidated average cost of a data breach, including SharePoint breaches, amounted to an average of $3.8M across 383 organisations from 12 countries whom had suffered a breach in 2015. What most people don't account for are the end customers that are lost after a data breach. While the cost of investigation and crisis management has been rising, the cost of losing customers after a breach not only plays a short-term effect but continues into the long-term.

 

How Do We Protect Ourselves Then?

Whilst the world can be considered dangerous; contrary to popular belief, it isn’t all that hard to protect yourself. An article published by the InfoSecurity Group Magazine noted that a review of a wide range of businesses found that 52% of them were using SharePoint, or planning to begin utilising this application. Of all the SharePoint users studied, about two-thirds had absolutely no security policy in-place.  Simply instituting security measures on SharePoint would be beneficial to the protection of your data, but often this does not happen.  All too often, organisations do not have Information Management Policies in-place to guide employees and SharePoint users themselves either don’t understand how to put up security measures for SharePoint or don’t think it is necessary.

At Berkeley Solutions, we understand how important and valuable intellectual property is to a business.  We have a framework of tools and processes that will assist you in understanding the value of your company's information and the steps you must take to ensure your most valuable information is classified, has the appropriate security trims that ensures its safety and security, whilst at the same time making it available to those in the organisation that need access to the information.   Contact us about questions you may have. 

 DOWNLOAD THE DATA BREACH PROTOCOL

 


Berkeley

Written by Berkeley

Founded in the late 1990s, Berkeley serves clients all over the world including Australia, Asia, North America and the Middle East. Berkeley operates three core divisions: Enterprise Application Development (design, development and enhancement of our offerings), Enterprise Security and Systems Support Services (ongoing commitment to client service) and Internet and Cloud Services (making Berkeley applications available using alternative hardware solutions). Berkeley continuously strives to meet the needs of each of its valued clients. Its success has been heavily dependent on repeat/referred service based on its willingness to help information security specialists do their jobs better. Berkeley prides itself on delivering solutions on time, within budget and in accordance with specification.