|To Encrypt or Not to Encrypt – Organizational Responsibility - Page 3|
Other Advantages of Encryption
Traditionally organizations view security infrastructures as cost incurred to defend against disasters brought on by malicious attackers and for providing resultant business continuity. More and more businesses are realizing that information protection does not have to be a cost center. Add to the bottom line by replacing paper workflows containing sensitive information with electronic workflows and save a bundle by eliminating the cost of paper printing, handling and shipping. The key to achieving this is to use encryption to protect the sensitive high-value information against unauthorized leakage.
Examples of cost saving
For a finance company mailing 10,000 statements per month will save $52,800 every year by replacing regular mail with encrypted email.
Bulk mail rate (bar-coded) = $ 0.27 per statement
Security as a competitive advantage
Using secure eWorkflow not only saves money for you, it also offers a faster, easier process to your customers. This benefit should be rightfully communicated to the customers by marketing as a competitive advantage.
Organizations in Health and Finance (and to some degree in Legal) industries are reponsible for protecting their clients' sensitive private information. The information containing patient health information, identity information, account information and legal advice fall under the category of private information. Penalities and loss of clientele due to tarnished image is not something an organization can ignore or take lightly. Good thing is that the cost of privacy protection can be paid back by reduced costs and newly gained competitive advantage.
Businesses can achieve significant cost reductions by switching to eWorkflow from paper-based workflow. The trick is to ensure that sensitive information exchanged in the process is properly protected.
Organizations subject to privacy regulations must comply with the applicable federal and state privacy regulations. Protecting customers’ private information also the right thing to do and such protection can be rightfully communicated as an additional benefit to the customers. This should be leveraged as a competitive advantage.