What can Pharma companies do to manage the threat of data breaches?

This is a guest article and does not necessarily reflect the views and values of Impetus Digital. 

Data breaches can happen in any industry, and unfortunately, pharmaceutical companies aren’t immune to this threat. With a handful of big names responsible for dispensing billions of prescriptions across the US each year, Pharma companies are the keepers of vast amounts of data and, as such, are attractive targets for cybercriminals.

It’s no question that industry leaders should be looking for ways to improve their data protection. So, what can be done to manage data breach threats? Let’s break it down.

Encrypt data

Most of us are familiar with the importance of data encryption, but despite this fact, a number of large companies have historically succumbed to the effects of not properly encrypting their sensitive information. Luckily, there are always ways to improve your data encryption, such as keeping up to date with current methods – for example, symmetric and asymmetric encryption. After all, what once worked for your company may not always be the smartest solution as the industry evolves and technology advances.

Cybercriminals will always be looking for opportunities to crack your data encryption, so you’ll want to ensure that you conduct regular risk assessments and update your system as needed, whether that means tweaking your current method or adopting a new approach altogether.

Keep software updated

Similarly, it’s important to keep your software systems up to date to protect against the possibility of a data breach. Software updates will usually come equipped with the newest advancements in cyber security programs, ready to tackle the latest cyber threats.

With cybercriminals constantly evolving their methods and becoming more savvy in their ability to breach data, it’s important to match their advancements and be consistently looking for ways to upgrade and improve your software.

Educate employees and consumers on the risks of data breaches

Even once you’ve implemented all the latest technical advancements, there’s still room for improvement. Sometimes, the simplest way to tackle data breaches is to better train our employees to recognize the threats and to handle them effectively when they happen.

Often, employees are left in the dark when it comes to understanding the importance of encryption, two-factor authentication, and malware protection programs, among other data protection tools. Well-thought out, clear training schemes can help us to educate our employees on ways to better manage cybersecurity threats. We can even educate consumers on recognizing phishing attempts, so they’re better equipped to protect their own data in the first place.

Why is data protection important?

As leaders in the pharmaceutical industry, we’re responsible for protecting the data of our organizations, employees, and consumers. With technology becoming ever more advanced and the risk of data breaches ever more potent as a result, it’s imperative that we’re on the ball when it comes to potential risks and preventative measures. Make a commitment to increasing your cybersecurity knowledge, to ensure that you’re implementing the best security methods for your organization.

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