As a business owner, you know that safeguarding your company’s data is of paramount importance, especially when your employees are on the move during summer travel. To minimize the impact of a stolen work laptop, it is essential for employees to follow company policies regarding laptop security, encryption, and data backups. However, there is a solution that can protect your valuable information: Managed Endpoint Detection and Response (Managed EDR).
Imagine Alex, your company’s head of software development, planned a summer vacation with family. Despite taking precautions to secure the company’s data on his work laptop, disaster struck when it was stolen during an island adventure. Panic ensued as sensitive information became vulnerable. Quick action from your security team was necessary but failed to respond in time. Here are 6 aspects that you may not have considered where a catastrophic event like this can impact your business.
6 Ways a Stolen Laptop Damages Your Business
1. Data Breach
The stolen laptop could contain sensitive information, client data, or personal identifiable information (PII), leading to a data breach if the thief gains access to it.
2. Intellectual Property Theft
If the laptop contains proprietary information, trade secrets, or intellectual property, it could be used by unauthorized parties for malicious purposes.
3. Financial Loss
The cost of replacing the stolen laptop and any equipment or data lost with it can lead to financial strain for the individual and your company.
4. Legal Implications
Depending on the data and information stored on the laptop, your company might face legal issues or regulatory penalties if you fail to protect sensitive data adequately.
5. Reputational Damage
A data breach or theft of intellectual property can seriously damage your reputation and erode customer trust.
6. Loss of Business Opportunities
If the stolen laptop contained crucial data or documents related to ongoing business deals or opportunities, your company might miss out on potential contracts or partnerships.
Is your data at risk? Get your free risk assessment today.
Alex returned to the office and faced a storm of consequences (especially related to points 5 and 6 from the list above). The media caught wind of the incident, painting your company as irresponsible and careless with sensitive data.
Clients, vendors, and business associates saw the coverage and flooded your office with calls and emails. Your team spent days attempting to salvage current relationships.
The most unfortunate aspect? This entire situation could have been avoided with a managed EDR solution in place.
What Is Managed EDR?
Managed EDR is a cloud solution that allows you to help prevent attacks on your business, improve employee training, and defend your network against potential threats.
And, in the event an attack is successful, endpoint security solutions can detect and isolate those attacks quickly, meaning you can get back to work with minimal interruption. It goes beyond what your current anti-virus software and cybersecurity tool offers.
The Power of Managed EDR
This cautionary tale serves as a stark reminder of the critical importance of data security and the severe consequences of complacency. With endpoint detection and response, Alex could have rested easy, knowing that the encryption codes were secure, and 24/7 support could have assisted with a remote wipe.
Data security doesn’t go on vacation. Provide your employees with cybersecurity awareness training.
Nortec – Your Cybersecurity Partner
Nortec’s cybersecurity solutions can include continuous monitoring of end-user devices and ensure early detection and response to threats that traditional tools may miss.
With employees on the move, you can’t underestimate the importance of data security. Nortec empowers you with the tools to protect your business from multiple types of threats, whether your team is working from the office or a different location. With Nortec, you have a dedicated cybersecurity partner that tirelessly works to keep your devices and data protected, allowing you to focus on what matters most – growing your business.
Vacations happen, prepare with comprehensive solutions, book a consultation today.