Malware's Rising Attempt to Steal Customer and Employee Personal Identifiable Information.

In an era marked by digital transformation and interconnectedness, instances of data breaches or mishandling of sensitive information can lead to severe reputational damage, erosion of customer loyalty, and potential legal repercussions.

Preserving customer confidentiality has emerged as a pivotal factor in sustaining success and avoiding lost business opportunities. As consumers become increasingly conscious of their data privacy rights, organizations that prioritize and demonstrate a steadfast commitment to safeguarding customer information are better positioned to cultivate trust and build enduring relationships.

In 2023, Data Breach Costs Are Rising.

In the 2023 annual cost of data breach report conducted by IBM, data breach costs rose to $4.45 million per incident in 2023. Customer and employee personal identifiable information was the most commonly breached type of data in 2023 and is involved in 52% of all breaches reported.

The report also identified that on average, it took 277 days for organizations to detect a breach and return to normal service. This trend has continued in 2023, with the cost of detection and evaluation rising 9.7% to $1.58 million. Lost business cost dropped the most, by 8.5% to $1.30 million.

IBM Report: Average Cost of a Data Breach Rises to $4.45 Million Posted by TechRepublic, July 24, 2023

The Symbolic Relationship Between Data Security and Customer Loyalty.

By upholding the principles of confidentiality, businesses not only protect the privacy of their valued clientele but also underscore their dedication to ethical practices and responsible stewardship of data.

In turn, this fosters a resilient foundation of trust that not only safeguards against lost business but also serves as a driving force for customer retention, brand loyalty, and sustainable growth in today's evolving economic landscape.

Knowing this, Contour Data Solutions recognizes the paramount role that Cisco Umbrella plays in safeguarding the integrity, confidentiality, and availability of our sensitive data and resources, both within on-site and off-site work environments.

As a CSP and MSP, Contour’s main priority is to foster a safe and productive ecosystem where data remains protected, operations continue seamlessly, and the organization's overall security posture remains resilient.

For more information on how to enhance your strategy for on and off-site data protection, contact our Strategic IT Specialists at [email protected]