Any time you’re dealing with customer data, proprietary data, or any information of a sensitive nature, one of your top concerns has to be security. Poor security practices put your business at risk.
When customers do business with you, they are trusting you to protect their information. If you don’t live up to that trust, you’re damaging your reputation. Existing customers lose faith and take their business elsewhere. The fallout can hurt your ability to recruit new customers.
You can face substantial fines and penalties from failure to protect data as required by governmental regulations, such as the General Data Protection Regulation (GDPR) in the European Union or the California Consumer Privacy Act (CCPA).
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