Why Vendor Security Matters
Many industries rely on third party services to help their business thrive. From banks to hospitals, vendors and suppliers are needed to make the world go round. Whether you are bound by the laws of HIPAA or have concern for your client’s personal information, the security of your third party vendors needs to be taken seriously.
According to a study conducted by IBM (who funds and conducts research on data breaches), the average consolidated total cost of a data breach is $3.8 million. This is a 23% increase from 2013. This staggering amount obviously represents large businesses with many clients, but the fact remains that data breaches have a financial impact on businesses. With an average cost per record breached being $154.00. That amount significantly increases to $363 per breached record in the healthcare industry. This includes not just the value of the damage done, but the cost of lost business because of the breach. What isn’t quantified is the damage to your brand long-term.
You might be thinking, great – what does all of this have to do with me? Think about the pay stubs, bills, statements, and employment information your company has and prints. Think about your client lists, usernames, and passwords. How do you organize that information and how do you use it? Do you print everything in house and mail it from within your own facility – probably not. Having access to a commercial printer and mailing facility with security protocols is just as important as the ones you have in house.
How You Know Your Printer is Secure
Updated Technology and Technology Policies
Don’t be afraid to ask your printer about their in-house technology. They should have a firewall in place and new technology in place. Inquire about their technology policies.
Secure FTP Upload
Whenever you are transferring files with client information in them request a secure FTP server to upload to. Tell your printer you want an account with your own password and reiterate the fact you do not want other individuals having access to the files you’re uploading.
HIPAA Certified Printer
You might think HIPAA certification only pertains to the medical field, but the policies and processes have application in any industry where a customer’s personal information is involved. Working with a HIPAA certified printer simply means they understand how to handle sensitive information and understand the value in keeping your client’s data safe. Learn more about what it takes to be a HIPAA compliant printer.
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