Scary Facts About Document Management

With Halloween just around the corner, we were inspired to write about the sheer spooky-ness that is a Document Management system! Here are 4 things to beware of when using a Document Management system:

  1. Unauthorized Sharing

Something that always comes to mind is unauthorized sharing. And we don’t mean when your mom goes in your closet to “share” your Halloween candy with you. What we are talking about is much more frightening. When employees use a different platform for sharing other than the one their organization has chosen, many frightening things can happen. Duplication of content, unsecured content, data breaches, and unsupported information governance initiative are among those things. Another scary thing that can happen is an IT department can get caught up in supporting more applications than they can easily manage.

 

  1. Social Engineering

This is something that is common among large organizations. Social engineering is a psychological manipulation of a person into divulging confidential information. Typically, someone will call into a company and ask for information because someone of authority within the company said it was okay. We can compare social engineering to ghosts, since the point of it all is that you can’t see who you are talking to, but they will haunt you down to get what they want. Usually, this is how a data breach starts. Yeah, you hear about all of the electronic hacking that goes on to large companies like Yahoo, but that takes a lot of time and effort from one or several people to do. This is the easiest way for someone to compromise confidential information. When you are dealing with document management, and security and governance concerns, it is important to make sure that employees know what regulations are set in place to avoid being spooked by social engineering.

 

  1. Cost of Data Breaches

A recent study by IBM and Ponemon Institute said that the average total cost of a data breach in 2016 is $4 million. That’s a 29% increase over 2013! I’m not sure about you, but I don’t have $4 million sitting around just in case information get compromised. Let us put this in perspective: If the cost of a single Snickers bar is $0.89, that means 1 data breach will cost you 4,494,382 Snickers bars! That’s as frightening as being chased by zombies!

 

  1. Big Data

This is like the Frankenstein of Document Management! The sheer amount of data that is created every day is insane! According to IBM, it is estimated that 2.5 quintillion bytes of data are produced every day. If you don’t know how much that is, put 18 zeros after 25. Go ahead. I’ll wait right here… THAT’S A LOT, RIGHT! Only 0.5% of all data is actually being analyzed according to the MIT Technology Review. Big Data has really morphed over the years from a word used in regular IT conversation, to a global phenomenon that has taken over enterprises and consumers alike.

As you can see, there are ghouls and ghosts out there in the industry. Be safe out there this weekend! And beware of these things when using a Document Management system always; not just on Halloween!

Posted on: October 27, 2016