The data security landscape is constantly shifting. It’s like the space race: as cybercriminals become more sophisticated with their attacks, so do organizations need to fortify their defenses. However, there are many moving parts to data security. Remote work means we’re more reliant on technology to collaborate which means a higher exchange of sensitive information. It also gives attackers more opportunities to compromise your data with a threat plane that ranges from the organization’s headquarters, to the home office, and everywhere work happens in between. According to IBM, for 83% of companies, it’s not a matter of if a data breach will happen, but when1.
The IBM Cost of a data breach 2022 report also showed how the risk is much more costly for US organizations, with data breaches costing twice as much as the global average.
According to the report, stolen or compromised credentials are not only the most common cause of a data breach, but they also take the longest to identify – with an average of 327 days1.
A Deloitte report has also identified similar trends in security breaches and cyber attacks. In the new Deloitte Center for Controllership poll, 34.5% of executives report that their organizations’ accounting and financial data was targeted by cyber adversaries in the last 12 months2 (leading to February, 2023). And those participants aren’t optimistic about cyber threats easing in the future. 49% of C-suite and other executives participating in the poll expect the number and size of cyber events targeting their organizations’ accounting and financial data to increase in the year ahead2.
Fortifying Defenses with AI and Automation
However, according to IBM, AI and automation offer a lifeline amid the increasingly risky data landscape. Organizations that had a fully deployed AI and automation program were able to identify and contain a breach 28 days faster than those that didn’t, saving USD 3.05 million in costs. And those with even a partially deployed AI and automation program fared significantly better than those without.1
Stay secure with Kofax
Kofax is a leader in automation, and Kofax Business Connect extends secure business processes to distributed employees to work securely and efficiently through a single productivity solution. Our document automation both boosts security and reduces the risk of breaching compliance. The security controls ensure you’re safe and compliant by using consistent content-based business rules and data protection policies. It allows you to instill governance in your data workflows and ensure communication protocols, and take advantage of advanced information protection such as watermarking and maintaining a chain of custody. Similarly, Kofax ControlSuite transforms your document capture, print management and mobile workflows into a single fully integrated suite, extending the value of your MFD investment – all while safeguarding compliance and maximizing security. And when it comes to print security, Printix lets you print securely on both new and old hardware.
Meeting Data Security and Compliance Requirements
Discover the types of threats targeting cloud-based print infrastructure and what preventative actions you can take.Download Now