Privacy is a hot topic right now. It’s no longer just about how we protect our personal information, but how businesses protect their own sensitive data—and the impact that has on consumers and regulators alike. That’s why privacy is so important: by protecting sensitive data, you can protect your organization from data breaches and regulatory risk. This blog will explain what makes Data Privacy such a hot topic and why Alex Solutions is the end-to-end Data Privacy partner for your business.
Why is Data Privacy a hot topic?
2022 has seen some of the largest companies – including the largest private health insurer and a top two telecom company – be hit with devastating cyberattacks. These attacks have resulted in the exposure of sensitive information relating to millions of people, including their private health information, identity and credit details. This opens the door for identity theft and fraud but is a violation of privacy in the first instance. The severity of recent breaches has driven the government to accelerate and strengthen data privacy regulations to better reflect advancements in other jurisdictions.
From the introduction of GDPR in Europe to new regulations in California and other states, organizations are facing new challenges related to data privacy compliance all over the world. In addition, the number of data breaches has increased dramatically over the past few years, making regulatory risk more prevalent than ever.
Alex helps companies manage their Data Privacy risks by providing technology that enables them to:
Providing a unified enterprise level view of all sensitive data and a workspace to coordinate and enact data privacy and protection policies
Manage exports, imports and data sharing safely to prevent data loss
Automated scanning that detects and profiles sensitive data marked for protection including PII, PHI, HIPAA, PCI data and more
Responding in realtime and remediating any privacy risk or detected exposure
Automate key workflows to comply and report against specific regulatory obligations
The Importance of Data Privacy to Your Business
Data privacy is a key component of data security, data governance, regulatory compliance and business risk management. Data Privacy and Security are the bedrock of all stable modern enterprises. Without putting proper controls in place, you could be exposing yourself to serious consequences – loss of sensitive data, fines, regulatory penalties and more. With Alex for Data Privacy, you can ensure that your organization employs best practices and stays compliant with the relevant regulations to your business.
Alex is the best Data Privacy partner for your business.
By protecting sensitive data, you can protect your organization from data breaches, their reputational and financial costs and regulatory risk. But how do you protect your data from loss or unauthorized access? Do you know the location of every device or person storing your sensitive corporate data? Do you know when anyone misuses it? For example, a customer who is over-using their health data on an app and putting their personal information at risk.
Alex is the best Data Privacy partner for your business: we have a proven track record of helping enterprise scale customers achieve compliance with new data privacy regulations. We reduce the time to compliance, investment required to maintain compliance with automation, as well as time spent manually auditing and assessing risk.
It’s time to address the issues of data privacy and security in a unified way. Alex for Data Privacy has been designed to do just that. One platform, built from the ground up to protect against misuse and exposure of all types of sensitive data from PII to PHI and PCI. Alex makes it easy to monitor, control and audit data access to regain centralized control over sensitive information. By automatically detecting, categorizing and coherently profiling all sensitive data for your entire enterprise with our technology agnostic Intelligent Connectors, you can easily set policies and enforce compliance regulations that help achieve data protection goals.
With an integrated CDE platform, monitoring all data activities deep inside enterprise networks, organizations can enforce virtual policies across distinct domains such as HR or Finance with the confidence that only appropriate users are accessing sensitive data. Automate your company’s data protection policies, including context specific roles and automated workflows that give teams role-based accountability and notification alerts, thus enabling a holistic approach that can be applied anywhere in the organization.
Alex also helps you derive realtime risk alerts so you can remediate breaches before they cause harm. Alex enables organizations to easily monitor usage and permissions across users, devices and applications so they can manage access in context, so that teams can always be in control. Having specific data assets visually represented grants insight to their upstream and downstream impacts and relationships. With more context on any given data asset, data owners are enabled to accurately assign it with classification levels. When there are changes to be made to datasets or systems, the impact of the change can be predicted. Whilst the value of this cannot be understated, from a data security perspective, impact analysis allows the data owner to know that no vulnerabilities would arise from the proposed change. In the case that data breaches do occur, your data team can perform swift remedial action by first having an immediate visual representation of the data, and second, having visibility into how the at-risk data asset affects other data and systems.
With every day that passes there are precious few minutes left for enterprises to address data privacy as cyberattacks and regulatory penalties increase in both frequency and severity. The huge reputational losses following some recent high profile breaches has everyone wanting to stay out of the headlines. Reach out to us today for a personalized demonstration of how Alex for Data Privacy can gain the confidence of your CIO, CISO and Data Governance team by enabling compliance.