When it comes to customer data breaches, here’s what business executives worry about according to a recent Ernst & Young study:
- Damage to business reputation 85%
- Lost revenue 72%
- Penalties levied by legal authorities 68%
As we mentioned earlier this month, security software is a growing industry. Globally, over 2/3’s of businesses report having implemented measures to secure customer data. The Ernst & Young report indicates that over half of businesses will increase spending in this area during the next year. Opportunities exist for outside vendors to sell and implement security systems and for vendors to train employees on the importance of properly deployed and managed data security systems.
Share this data with your business services clients and suggest a new ad campaign to boost revenues.[Source: Ernst & Young release, October, 2008]