Several data privacy laws have been enacted in many countries, and many more are in the offing. These regulations have fundamentally changed the way organizations look at data. It is well known that data is the new currency for businesses. With the coming into force of CCPA and GDPR, companies are forced to rethink how this information resides in their organization and identify who has access to it in order to meet basic enforcement requirements. Security teams that can adjust to the new requirements are vital to tackling the ever-increasing compliance costs. The CCPA and GDPR have made customer data protection a core priority across multiple agencies.
Legacy Infrastructure: Increasing Compliance Costs
The recovery process, which makes it possible to understand how the system was breached, what information was affected, and bringing systems back online, drives much of the cost involved in data breaches. Knowing the extent of harm is challenging for many organizations because existing security systems are not configured for data visibility or access control, both of which allow security teams to monitor who has accessed what information and when.
In ERP systems, data visibility is an especially acute challenge because they store sensitive business data, such as financial information, intellectual property, or bank account details. They’re often the last piece to be updated in the digital infrastructure. This results in security holes when updates are skipped, or a legacy device is updated with new security features.
The Organizational Perspective
Compliance costs are primarily guided by the flood of demands from users concerning the “right to know” and “right to be forgotten.” The right to know sets out the right of the consumer to know, and to download, what data an organization has collected on them. The right to be forgotten makes it possible for customers to request that all data relating to them be deleted from the database of an entity. Organizations should pay attention to potential violations by their third-party partners or even by careless employees.
Outdated and disparate infrastructure also poses major challenges to GDPR and CCPA compliance. The lack of consolidated, clear data systems that make finding all relevant information on each person a costly and lengthy process is one of the key barriers to the timely addressing of the right to know requests.
Without any way of monitoring access inside their internal systems, most organizations have no idea whether any user’s personal information has been downloaded, copied, or stored in several locations, requiring enforcement departments to manually track each piece and facing fines when it takes longer than 30 days to respond to requests (in case of GDPR).
As a result, security and enforcement departments have started to join together to better understand the enterprise’s business data lifecycle and how it can be secured effectively.
Regulations and the Industry Trends
The fresh regulatory pressures brought by the CCPA and GDPR are, in many ways, aligned with emerging cybersecurity trends. Security features that allow granular user activity monitoring in real-time ensure that access management can be conducted correctly while still adhering to the GDPR and CCPA privacy standards. As a result, companies strengthen both security and compliance as they can be better equipped to respond to insider attacks, mitigate direct harm caused by a breach, as well as cancel fines incurred by damaging consumer details. Security teams are also able to better manage access controls with greater means to identify and differentiate users, as well as better understand who has modified data and when.
Many customers are aggressively pursuing additional ways to secure and handle their personal data with cybersecurity issues entering the mainstream. This has increased employee receptivity to new security features for the company, such as MFA for internal systems. System administrators should unify the enhanced security expectations provided by the GDPR and CCPA to reduce the cost of compliance, especially with complex ERP systems.
Advanced security tools will solve problems in all departments by facilitating safe migration, allowing greater visibility of data in new systems, and reducing enforcement costs over the long term.