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Cybersecurity for RIAs

RIA Cybersecurity: Prepare for New SEC Cybersecurity Requirements (2023)

Last year the Securities and Exchange Commission (SEC) voted to implement new and amended SEC RIA requirements to the Advisers Act of 1940 for cybersecurity risk management for registered investment advisers (RIAs) and funds.

Is your firm ready?

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sec ria cybersecurity requirements

The proposed SEC rule changes would oblige RIA firms to develop and implement written policies and procedures to reduce cybersecurity risks that could harm clients and fund investors. The proposed regulations would also force advisers to report cybersecurity incidents like data breaches involving client information to the SEC.

Additionally, the proposed changes call for publicly disclosing cybersecurity risks and significant incidents from the last two fiscal years in their marketing materials and registration statements.

“The proposed rules and amendments are designed to enhance cybersecurity preparedness and could improve investor confidence in the resiliency of advisers and funds against cybersecurity threats and attacks,” said SEC Chair Gary Gensler.

While comments initially closed in April 2022, comments were reopened on March 15, 2023. Once comments are fully closed, the finalized rules will most likely become effective later in 2023. We will be providing future updates once the final regulations are published.

What do the New SEC RIA Cybersecurity Requirements Entail?

The four significant proposed changes include the following:

  1. The proposal consists of new rule 206(4)-9 under the Advisers Act and new rule 38a-2 under the Investment Company Act. In addition, the proposed cybersecurity risk management rules require public companies to adopt and implement policies and procedures for identifying, assessing, and mitigating cyber risks.
  2. The proposal also includes a reporting requirement under new rule 204-6 mandating companies report significant cybersecurity incidents affecting the adviser, its fund, or private fund clients.
  3. The updated rules include changes to Form ADV Part 2A requiring advisers and funds to publicly disclose cybersecurity risks and significant cybersecurity incidents that occurred in the last two fiscal years in their brochures and registration statements.
  4. The proposal also includes new recordkeeping requirements under the Advisers Act and Investment Company Act Rule 204-2 to improve the availability of cybersecurity-related information and help facilitate the Commission’s inspection and enforcement capabilities.

RELATED CONTENT → Security vs. Compliance: Differences & Similarities

What Can You Do to Prepare for RIA Cybersecurity Enforcement?

Here are some expert tips on being ready for enforcement when the changes go into effect later this year.

  •  Develop and Implement Policies and Procedures

RIAs and funds must create comprehensive cybersecurity policies and procedures to mitigate cybersecurity risks per the proposed rules. Keep in mind that these policies and procedures must be both compliant and actionable.

  • Conduct a Risk Assessment

Evaluate cybersecurity risks by identifying, categorizing, and prioritizing cybersecurity risks related to your systems and operations. By conducting an effective risk assessment, you’ll have the necessary information to develop compliant policies and procedures to combat potential cybersecurity risks.

  • Prepare for Disclosure Obligations

When it comes to disclosures associated with cybersecurity risks or incidents, develop procedures for clear, accurate, and timely disclosures to the SEC, clients, investors, and other market participants.

  • Continuity Planning

In the event of a cybersecurity incident, you must be able to maintain system operations. So, test your incident response and business continuity plans through tabletop exercises to ensure compliance with the requirements.

  • Reporting and Documentation

Employing a governance, risk, and compliance (GRC) solution will ensure you have well-documented evidence that your cybersecurity program is compliant.

In addition to ensuring that your firm will align with the changes, these suggestions are also considered best practices for mitigating the risks from data breaches and other cyber attacks. Following these and other practices makes good sense whether your firm is required to or not.

To learn more about GRC, download our free guide →  Understanding Governance, Risk Management, and Compliance for Financial Services.

By employing these practices, you’ll be ready for any forthcoming changes to cybersecurity regulations and well-protected against potential security threats. One solution for preparing now or later is to work with an experienced and knowledgeable IT service provider. An IT partner experienced with RIA firms, and one employing robust cybersecurity and compliance solutions can reduce the time and resources it takes to comply with and implement these and other cybersecurity compliance standards.

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Data Breach Detection

Breach Detection: Could You Detect a Data Breach?

With the increasing reliance on technology in today’s business world, the risk of data breaches is at an all-time high, making breach detection a crucial factor in protecting sensitive data.

Data Breach Detection

Detecting a data breach early on can help organizations limit the damages, preserve their reputation, and prevent further unauthorized access to their systems. Despite this importance, many businesses struggle to identify data breaches as they happen, only realizing something is wrong when it’s too late. We outline some helpful insights about the importance of breach detection and the strategies they can adopt to improve their breach detection capabilities to protect their business before, during, and after a data breach.

Causes of a Data Breach

A variety of factors can cause a data breach, including human error, malicious attacks, and software errors. Human error includes misconfiguring security settings or sending sensitive data to the wrong recipient. Malicious activities, such as ransomware attacks or phishing scams, are escalating and increasing in frequency and can lead to unauthorized access to sensitive information or data loss. Additionally, software system errors or vulnerabilities can provide entry points for attackers to exploit.

The growing reliance on third-party vendors and the complexity of supply chains have also increased the potential for supply chain attacks, where attackers target a third-party vendor’s systems to get access to valuable information. Therefore, understanding the causes of data breaches is vital for businesses to identify vulnerabilities and implement appropriate security measures to prevent them.

Data Breach Detection

The majority of data breaches are discovered by external sources, meaning that an external entity, rather than the affected business, was the first to recognize the breach. This makes it clear companies need to improve their data breach detection systems to monitor and detect potential breaches in real time.

With so many data breaches occurring every day, it’s critical for organizations to stay vigilant and invest in the latest technologies, and to detect potential breaches as soon as possible. By prioritizing breach detection and response, businesses can mitigate the damage caused by a breach, protect their customers’ data, and maintain their reputation.

Identifying High-Value Data

Identifying and securing high-value data is critical in protecting sensitive information from unauthorized access, loss, or theft. High-value data can include business trade secrets, intellectual property, financial information, personally identifiable information, and other sensitive information that could harm your business or customers if leaked or breached. To identify high-value data, a company must conduct a thorough inventory of data assets, categorize data based on sensitivity, and apply appropriate security controls to protect it from unauthorized access.

Effective security controls should include access controls, encryption, multi-factor authentication, and data loss prevention tools. Protecting high-value data may require additional resources and investment, but the potential cost of a data breach can be devastating. By prioritizing data protection for high-value data, businesses can minimize the risks associated with a data breach and build a trusted reputation with their customers.

Active Monitoring Processes

Active monitoring processes are essential for preventing data breaches and protecting sensitive information from unauthorized access. Active monitoring involves continuous monitoring of a system’s security posture to identify potential threats, suspicious activities, or vulnerabilities. By proactively monitoring networks, applications, and data usage, businesses can quickly detect and respond to security incidents before they become full-blown breaches.

Active monitoring processes can include but are not limited to, security information and event management (SIEM) solutions, intrusion detection and prevention systems, network and endpoint protection tools, and data analytics platforms. These tools provide a holistic view of the organization’s security posture and enable businesses to take timely action against probable security threats. Through active monitoring and timely response, organizations can prevent data breaches, protect sensitive information, ensure compliance, and maintain their reputation.

Rapid Remediation After a Data Breach

Rapid remediation is a crucial step in limiting the damage caused by a data breach. Once a breach has been detected, acting quickly and decisively to contain it and minimize the harm is essential. Rapid remediation strategies may include, among others, isolating affected systems, disabling breached accounts or systems, restoring from backups, identifying and removing malware or other malicious software, and conducting forensic analysis to determine the extent and root cause of the breach. The ultimate goal of rapid remediation is to lessen the severity of the breach and protect sensitive data from further exposure.

By responding to a breach quickly, businesses can reduce their financial and legal liabilities, safeguard their reputation, and mitigate operational disruptions. Effective remediation requires a well-defined incident response plan, including clear roles and responsibilities, thorough documentation, and continuous improvements in response to changing threat landscapes.

In conclusion, data breaches are becoming more sophisticated and prevalent, making breach detection an essential component of data protection strategies. Therefore, organizations must stay up to date with the latest technologies and adopt a multilayered approach to cybersecurity, including monitoring, training, and incident response planning.

Related Content

Looking to evaluate your organization’s current security coverage? Use our Cybersecurity Evaluation Checklist to help you appraise your firm’s cybersecurity readiness. This checklist is a jumping-off point to help your enterprise determine its ability to mitigate the risk of cyberattacks before it is too late.

Cybersecurity Checklist

 

Only by adopting a proactive, comprehensive approach can organizations hope to prevent significant breaches, mitigate their impact, and protect sensitive data. However, when it comes to data breaches, it’s not a matter of if but when. Therefore, businesses must continuously assess their IT security posture and adopt proactive measures to detect and respond to potential breaches. Only then can they safeguard sensitive data, ensure compliance, maintain operations, avoid liability, and avoid the headlines.

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CPRA vs CCPA

CPRA Vs CCPA? Ready for the July 2023 Deadline?

Today’s businesses operate in a global landscape where data privacy and security compliance are more complex than ever. Case in point, there is a significant amount of uncertainty about the upcoming CPRA requirements and how it differs from the CCPA. Let’s look at CPRA vs. CCPA.

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CPRA vs CCPA

CPRA Vs CCPA

The California Privacy Rights Act strengthens the consumer privacy rights outlined in the CCPA and establishes new data security requirements for businesses with enforcement beginning on July 1, 2023.

Businesses must protect the privacy of personal information, including taking steps to implement authentication procedures, updating policies, and securing user data. In addition, businesses must comply with CPRA by July 1, 2023, or face potential fines, lawsuits, and more.

In terms of CPRA vs. CCPA, it is important to note that the CPRA does not replace the CCPA. Instead, the CPRA amends CCPA by adding clarifications and strengthening provisions.

What is the California Consumer Privacy Act (CCPA)?

Enacted in 2018, the CCPA was the first significant privacy law in the US after the EU adopted the General Data Protection Regulation (GDPR).

The CCPA is a baseline law that created consumer privacy protections like the right to know what personal information a business collects and shares. It required companies to provide notice of their data practices and more. It applies to all businesses operating in California, whether they have a presence in the state or not.

The CCPA requires businesses to provide certain notices and disclosures, such as a dedicated privacy policy, to individuals before collecting their personal information.

What is the California Privacy Rights Act (CPRA)?

The CPRA builds upon the CCPA by further expanding consumer privacy rights and strengthening data protection requirements. For example, the CPRA grants consumers even more control over their personal information by requiring businesses to obtain explicit consent for data processing activities outside the scope of contractual necessity or legal obligation. It also adds more data security requirements and expands the scope of data security procedures covered by the law.

Key Differences Between CCPA and CPRA

Businesses should note that the main distinction between the CCPA and CPRA is the addition of strict consumer data privacy and security provisions. For example, the creation of a new category of sensitive personal information expands the data types that are subject to greater protection measures. Additionally, the mandatory cybersecurity and risk assessments and third-party audits required for some businesses will add additional layers of complexity to compliance programs.

 CPRA Data Security Updates

Here are some data security requirements outlined in the CPRA:

  1. Reasonable security measures: California privacy law expects businesses to implement “reasonable” security measures to protect the personal data they collect.
  2. Sensitive personal information protection: CPRA expands the categories of personal information, and businesses must employ reasonable security measures to protect this data, including encryption and access controls.
  3. Annual security audits: The CPRA requires that businesses performing higher-risk processing (as defined by the CPPA) conduct annual cybersecurity and risk assessments, as well as vulnerability assessments and penetration testing.
  4. Third-party vendor security: Companies must conduct due diligence on vendors that handle personal information, ensure they have adequate data protection measures in place, and only transfer data to vendors with confidentiality agreements in place.
  5. Training and education: Businesses must train their employees to manage personal data and ensure they understand how to protect it.
  6. Data breaches: The CPRA now considers email account leaks as data breaches, particularly if such leaks result in the exposure of personal details linked to people residing in California, as well as when security question leaks occur.
  7. Data minimization and retention: Companies must limit the data they collect, store, and retain to a reasonable amount necessary for their operations.

Potential Consequences of Non-Compliance

The potential outcomes of non-compliance are significant. The CPRA clarifies consumers’ rights to sue for violations and creates the California Privacy Protection Agency (CPPA) to enforce the CCPA and CPRA. Companies that violate the laws can face hefty fines and sanctions, including criminal penalties or suspension of the company’s ability to conduct business in the state. Additionally, organizations that fail to comply could become subject to costly and time-consuming lawsuits.

Announced in August 2022, the first enforcement action of the CCPA was a $1.2 million settlement against Sephora for neglecting to inform consumers about the sale of their data and to adequately process sale consumer opt-outs.

Enforcement actions are expected to increase after the full force of the CPRA goes into effect in July 2023.

How to Navigate a Changing Regulatory Landscape

It is critical to know what data your business collects and how it is secured to ensure compliance with the CCPA and the CPRA. Working with an IT partner that understands data privacy laws and regulations and data security requirements is essential for organizations looking to stay compliant in this increasingly regulated environment.

Your organization may also be required to follow additional requirements like the European GDPR or New Yorks’s Shield Act. By enlisting the services of a qualified IT services provider, organizations can make certain they are up to date on all the latest regulations and utilizing best practices for data protection. In addition, having an experienced IT partner means businesses can avoid disruptions and safeguard operations and focus on growing their bottom line.

Related Content → Read about how a GRC-enabled solution can streamline and simplify compliance  Understanding Governance, Risk Management, and Compliance for Financial Services.

 

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What is cyber hygiene and cyber hygiene best practices?

What is Cyber Hygiene & Why is it Important? (Best Practices)

Cyber HygieneWhat is Cyber Hygiene?

The consistent implementation of cybersecurity best practices to ensure the security and handling of your networks and critical data is what is known as cyber hygiene. Coretelligent will be sharing information and resources to help you fortify your cyber hygiene and keep your business safe from  threats.

7 Cyber Hygiene Best Practices

We have put together a list of cybersecurity tips as a quick introduction to persuade your team to assess your firm’s current security readiness from a cyber attack.

  1. Double (or triple) up on login protection.

    Enable multi-factor authentication (MFA) across your organization for all accounts and devices to ensure that only authorized users gain access to your secure data. CISA’s Multi-Factor Authentication (MFA) How-to-Guide is a good resource for more information.

  2. Shake up your password protocol.

    According to the NIST guidance, users should consider using the longest password or passphrase permissible. Encourage end-users to switch up passwords across applications, accounts, and websites. Using unique, strong passwords can make it more difficult for cybercriminals to gain access and protect your organization in the event of a breach.

    A password manager and online password generator can be employed to generate and for remembering different, complex passwords. Another solution is to employ SSO to control passwords centrally and avoid user password sprawl across various platforms, which can lead to poor password choices, reuse, and insecure safekeeping.

  3. If you connect, you must protect.

    Whether it’s a laptop, smartphone, or another networked device, the best defense against viruses and malware attacks is to perform updates on a regular basis to verify that the latest software updates get applied to your software, browser, and operating systems.

    A plan that includes the automatic security update is a critical layer of security and part of a multi-layered defense strategy.

  4. Don’t get hooked.

    Cybercriminals use phishing tactics, hoping to fool their victims. So, if you’re unsure who an email is from—even if the details appear accurate— or if the email looks phishy, do not respond, and do not click on any attachments or suspicious links in emails.

    Instead, report the phishing attempt to help your IT team and email provider block other suspicious fake emails before they arrive in your inbox. In addition, the use of random phishing simulations is a valuable exercise to help end-users spot phishing attempts.

  5. Beware of social engineering traps.

    Many people don’t realize that many of the posts seen on social media asking for seemingly random details are created by criminal networks. They use these posts to gather data that can be mined for potential passwords and other secure information.

    For example, posts like, “What car do you wish you still had?” or “Tag your childhood best friend” can be used to help criminals work out the answers to your security questions.

    Not only can these tactics impact personal data but are used to target employees in order to gain access to corporate networks. Read CISA’s Social Media Cybersecurity Tip Sheet for more information about good social media and cybersecurity practices.

  6. Don’t forget about mobile.

    Most connected Internet of Things devices are supported by mobile applications. Mobile devices are often filled with suspicious apps running in the background, or using default permissions users never realized they approved, which are gathering personal information and login credentials without the user being aware.

    A robust cybersecurity posture should include a plan for protecting data from employees using compromised mobile devices to access to corporate networks.

  7. Stay protected while connected.

    Using Virtual Private Network (VPN) for employees remotely connecting is the best way to protect networks. A VPN creates a secure connection that encrypts information so that it’s hidden as it travels. This connection makes it harder for attackers to see and access data.

    VPNs are essential when accessing sensitive data like personally identifiable information (like social security numbers) or protected health information, especially when using public wi-fi networks. In today’s hybrid workplace, VPNs are a must to protect against suspicious activity.

From a phishing attack to a ransomware attack, cyber threats are constantly evolving. If you are unsure whether your firm employs good cybersecurity hygiene best practices or not, then it may be time for a security check-up.

Remember, cybercriminals will use any security vulnerabilities they can find to gain access and steal data. You can start with these cybersecurity tips and move on to using our free Cybersecurity Checklist to review your security measures.

Download the Cybersecurity Checklist

 

Coretelligent is here to help with advice from our cybersecurity experts. Protect your business and learn more about our enhanced managed cybersecurity services designed specifically for small-to-mid-sized companies. Reduce your risk from security incidents – contact us today for help responding to your cybersecurity gaps.

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Data Loss Prevention

The Importance of Data Loss Prevention

We are all aware of the anxiety losing something can cause. If you’ve ever misplaced your wallet, you are aware of the lasting impact it has. First, you have to get in touch with your bank, then request a new license, and then update all your existing accounts with the new information when it arrives. Even after handling the seemingly endless immediate effects of the loss, the fear of what happened to your personal information may last a while.

Now imagine if you were an organization that lost hundreds of thousands of records containing personally identifiable information (PII) or intellectual property (IP). In 2022 alone, several major companies such as Uber and Rockstar Games have been affected by data breaches that have compromised large quantities of their stored PII.

Numerous factors, including internal and external threats, system flaws, or even human conduct, can lead to data loss. Whatever the source, your company can take steps to stop data loss, shorten the duration of the incident, and lower the overall cost to your organization. The SEC’s Office of Compliance Inspections and Examinations (OCIE) notes data loss prevention as a critical area in their Cybersecurity and Resilience Observations report.

What is Data Loss Prevention?

Data loss prevention (DLP) involves having systems, tools, policies, and training to prevent data from being misused, lost, or accessed by unauthorized users. Preventing data loss is especially crucial for businesses that handle sensitive information like personally identifiable information (PII), intellectual property (IP), and personal health information (PHI). IBM’s 2021 Cost of a Data Breach Report found that PII was the most common type of record lost, included in 44% of breaches. PII is also most costly type of stolen record costing businesses up to $180 per record.

For those in highly regulated industries, like financial services and life sciences, data loss prevention is required. Data management and security are crucial elements in FDA Title 21, CFR Part 11, HIPAA, Sarbanes-Oxley Act (SOX), FINRA, and SEC rule 17a-4. Keep in mind that many of these regulations require preventative measures, specific actions, and documentation in the event of a data breach.

The Cost of Data Loss

Whether you experience a data breach from an inside user or permanent data loss from a malicious attack, there are long term consequences. Decreased productivity, loss of consumer and investor confidence, legal fees, and remediation expenses are only a few of the costs. For many organizations, it can take years to recover from the damage. Unfortunately, some businesses don’t survive these costs and are forced to close.

Even if you experience a breach, having a data loss prevention strategy can reduce the costs. The average cost of a breach is $4.24 million. Data loss prevention can reduce the overall cost of a breach by $136,992, according to IBM’s 2022 Cost of a Data Breach Report.

Developing a Strategy

To meet compliance standards and secure your data, your organization needs to have a comprehensive security plan that includes preventative and responsive actions.

Develop Comprehensive Policies

When we think about cybersecurity and data protection, we often think of technology. Although technology is a significant factor in security, policies set the tone for the organization and provide guidance on which technology solutions are needed. A lack of policies and procedures can undermine even the best technologies.

Create an Asset Inventory

You can’t protect your data if you don’t know where it is. Develop an asset inventory that lists all your data, where it lives, and how it’s currently being protected. Be sure to note your critical assets and systems that would affect your business operations.

Assess and Treat Vulnerabilities

To understand how your organization could experience data loss, you need to be aware of what vulnerabilities exist in your environment. Establish regular, comprehensive vulnerability assessments and penetration tests to stay on top of your current weaknesses.

Create and implement treatment plans for discovered vulnerabilities, e.g., patch management schedule, awareness training, and comprehensive policies.

Implement Access Control

Determine paths of ingress and egress for sensitive information. Determine who has access to sensitive data and implement the principle of least privilege to ensure that access is restricted to only those that should have it. Ensure access and usage are audited. Implement appropriate restrictions and logging at all points of egress.

Conduct Security Awareness Training

Since human error remains among the top causes of data breaches, it’s essential to conduct quarterly or semi-annual security awareness training. Users who have received training are better equipped to spot harmful emails and phishing schemes. It also teaches them what steps to take if they have received this type of communication.

Implement Perimeter and Endpoint Security

Remote work is here to stay, and as such, the perimeter of your network is no longer limited to the boundaries of your office or data center. You need to ensure that you have total visibility into all incoming and outgoing network traffic, including endpoints. Implement firewalls, endpoint protection platforms, and email security. These tools will give your IT team or MSP the visibility they need to detect and respond to threats straight away.

Having a dedicated security team to actively monitor your environment around the clock allows them to respond quickly to suspicious activities occurring on your network.

Properly Dispose of Legacy Systems

Remove software that is no longer receiving security patching from the vendor. Ensure that all sensitive data is removed when disposing of outdated software and hardware. Use disposal or recycling vendors that provide a certificate of destruction.

Create a Backup and Disaster Recovery Plan

Unfortunately, even with the best security measures in place, data loss is still a possibility. That’s why you need to have regular and tested backups along with a comprehensive disaster recovery plan. A plan will help your organization maintain business continuity and compliance while addressing a disaster or breach.

Staying Compliant and Protecting Your Data

Data loss can have a significant and irreversible impact on your business. Data loss prevention is an essential component of your overall security posture. To maintain compliance, your organization must secure and monitor your data continuously. As the threat of cyber-attacks continues to grow, it can be challenging to balance security, compliance, and day-to-day support. Coretelligent can help to strengthen your cybersecurity posture and protect your data. You can learn more about what we offer, including cloud-based solutions, backup and business continuity services, IT planning and strategy, compliance solutions, and more here.

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How to Effectively Assess Enterprise Backup Solutions?

How to Effectively Assess Enterprise Backup Solutions?Disasters and cyber-attacks happen, but data loss does not have to be inevitable. Data loss can be avoided or mitigated with a robust backup and disaster recovery solution (BDR). Surviving a catastrophic data loss event depends on choosing the right BDR solution. But you need to understand the critical components in order to successfully evaluate enterprise backup solutions.

What is BDR?

Comprehensive BDR solutions offer recovery options for various data loss scenarios. Determining the correct solution is a deliberate and tactical process that evaluates business data, applications, operations, and risk exposure.

Solutions often include a hybrid of daily backups and more frequent replication of virtual servers to a secondary storage site for rapid recovery. They may also include cloud-to-cloud (C2C) backup, especially for companies that use SaaS applications like Microsoft365. Daily backups provide long-term recovery capabilities. While backup replication allows for the rapid failover of business operations to a disaster recovery (DR) site.

At this point, it’s important to point out the pitfall of relying on a primary cloud provider as a backup source for your data. Several of the larger cloud services note that they are not responsible for maintaining the integrity of data stored on their systems. Instead, it is critical to choose a BDR partner with an appropriate backup and disaster recovery solution. A true BDR solution involves more than just having a second copy of your data. A BDR process ensures that your data is redundant, accessible, and viable.

What Does a Secure BDR Solution Encompass?

Every company has its own set of data recovery requirements. Therefore, recovery point objectives (RPOs) and recovery time objectives (RTOs) will vary. RPOs identify how often data should be backed up or replicated. In contrast, a RTO describes how quickly data can be recovered.

Furthermore, regulatory or compliance standards must be evaluated to see whether they have any consequences for data security. For example, financial services and life science companies are subject to stringent rules regarding the protection of digital assets.

Another necessary element in a data backup and disaster recovery strategy is developing and documenting a BDR plan. A BDR plan includes procedures for recovering data and systems, testing and validation methods, and identifying essential recovery personnel. This plan is crucial to ensure business continuity.

A final must-have component for any BDR plan is testing the recovery process regularly. Any difficulties or failures discovered throughout the testing process can be recorded and analyzed for modifications to the BDR strategy. In addition, test laboratories can be set up within a “sandbox” environment to minimize disruption to the manufacturing environment.

The ABCs of BDR WhitepaperWhite Paper Download

The ABCs of Backup and Disaster Recovery (BDR)

This white paper explains how data loss occurs, how backup and disaster recovery (BDR) works and helps you understand what to plan for and how to evaluate your BDR solution.
Free White Paper Download

Three Core Principles

Whatever your BDR strategy entails, it should provide the core values of scalability, reliability, and resiliency.

  • Scalable BDR solutions expand as your business grows without exceptional effort by your team.
  • Whether on-premise or a cloud backup, a reliable solution is fully redundant and accessible from any physical location.
  • Resiliency requires protecting data from ransomware attacks and other threats.

Advanced recovery solutions take a multi-pronged approach in managing risk, including a dedicated team of professionals available for client support.

A Trusted BDR Partner

CoreBDR, Coretelligent’s fully managed backup and disaster recovery solution, meets the data protection requirements of the digital enterprise. CoreBDR offers secure, high-performance, cloud-based backup and restoration to deliver operational resiliency to your organization. CoreBDR is available for organizations with on-premise infrastructure and cloud environments and can be customized to fit your business operations. Our expert team has deep experience delivering to clients of all sizes in financial services, life sciences, and other industries.

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Are You Getting the Most Out of Your Data Governance Program?

Are You Getting the Most Out of Your Data Governance Program?   

Last month we shared the first in our series about the importance of having a data governance program. With this post, we go more in-depth about why data governance is the key to unlocking the power of your data to drive growth and avoid risk.

Are You Getting the Most Out of Your Data Governance Program?

What is a Data Governance Program?

Data is the new currency in today’s business climate, and data governance ensures that your company has an organized system for managing this invaluable asset. A data governance program combines people, processes, and technology to guarantee reliable access to data so it can be effectively leveraged. To learn more about data governance basics, read The Future of Analytics is in Data Governance: Are You Prepared?.

How Does Data Governance Fit into Data Management?

Where data governance is a program for managing the roles, responsibilities, and processes of data assets, data management is the operation concerned with the quality and accessibility of data. Data management oversees all aspects of data— storing, maintaining, protecting—but data governance provides the raison d’être. If data management comprises the tactics, then data governance encompasses the strategy. One comes before the other.

Related Content → Best Practices for Good Enterprise Data Governance Guide

Why is a Good Data Governance Program Necessary?

There are two main forces behind establishing good data governance in an enterprise.

1. Improve Efficiencies, Reduce Costs, and Increase Revenue

A primary goal of data governance is to eliminate data silos that can occur in an organization. When data silos build up, they can inhibit the flow of information and make sharing knowledge difficult. Data governance is a collaborative process that recognizes the value of data and aims to break down barriers by harmonizing data within an organization through collaboration and coordination with the implementation of enterprise data architecture. Ideally, that will lead to competitive advantages and increased revenue and profits.

2. Increase Compliance and Reduce Risk

Another data governance goal is to ensure that data is compliance appropriate. That can be accomplished by creating uniform policies and procedures to monitor usage and include enforcement to eliminate risk from data loss and other issues. In addition, data governance can help to strike a balance between data collection practices and privacy mandates.

Data Solutions with Coretelligent

Coretelligent works with a variety of technology partners to provide next-generation cloud-based file sharing and collaboration. Building upon this foundation, Coretelligent adds its experience and support to offer powerful controls for data management. Our approach combines an effortless solution with maximum usability, so your enterprise can focus on what’s important—growing revenue.

Providing guidance and support is just part of what we at Coretelligent offer our clients. Our solutions include IT planning, 24/7/365 support, cloud computing, cybersecurity, disaster recovery readiness, and more. Reach out to learn about any of our technology solutions.

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