Competitive Pressures

As the number and severity of breaches in customer information increases, consumers are increasingly sensitive to the responses organizations offer when providing breach notifications.  While some instances are caused by intelligent cyber criminals, a progressively higher volume of incidents are due simply to negligence on the part of organizations. 
 
A recent study* released through the Ponemon Institute and Vontu noted that 62% of consumers polled would be significantly less tolerant of an organization where a data breach was due to negligence rather than theft.  Supporting research indicates that customers buying and loyalty trends are becoming increasingly affected by security concerns, driving measurable changes in customer behaviors.
 
With increasing state notification legislation and compliance requirements, many organizations are stepping up to address this concern and have begun to develop more structured control environments where they are asking:

• Has our organization taken sufficient measures to keep up with your competitors?
• In the event of a breach in Personal Identifiable Information (PII), can we afford to lose part of our customer base due to inattention to internal customer PII safeguards?

Edgewater Technology has developed a methodology to inventory, identify and evaluate the control structure your organization has developed to safeguard PII.  We can assist your organization with minimizing the possibility of a breach in customer PII and the risk of losing customers.

To learn more about Edgewater’s PII expertise and capabilities, call us at 800-410-4014 or email makewaves@edgewater.com.
 
* Source: Ponemon Institute, LLC - 2007 Consumer Survey on Data Security (June 25, 2007)