Eskenzi PR ad banner Eskenzi PR ad banner
  • About Us
Friday, 29 September, 2023
IT Security Guru
Eskenzi PR banner
  • Home
  • Features
  • Insight
  • Channel News
  • Events
    • Most Inspiring Women in Cyber 2022
  • Topics
    • Cloud Security
    • Cyber Crime
    • Cyber Warfare
    • Data Protection
    • DDoS
    • Hacking
    • Malware, Phishing and Ransomware
    • Mobile Security
    • Network Security
    • Regulation
    • Skills Gap
    • The Internet of Things
    • Threat Detection
    • AI and Machine Learning
    • Industrial Internet of Things
  • Multimedia
  • Product Reviews
  • About Us
No Result
View All Result
  • Home
  • Features
  • Insight
  • Channel News
  • Events
    • Most Inspiring Women in Cyber 2022
  • Topics
    • Cloud Security
    • Cyber Crime
    • Cyber Warfare
    • Data Protection
    • DDoS
    • Hacking
    • Malware, Phishing and Ransomware
    • Mobile Security
    • Network Security
    • Regulation
    • Skills Gap
    • The Internet of Things
    • Threat Detection
    • AI and Machine Learning
    • Industrial Internet of Things
  • Multimedia
  • Product Reviews
  • About Us
No Result
View All Result
IT Security Guru
No Result
View All Result

Trust trumps price in business decision making, with information security crucial to building trust

by The Gurus
April 6, 2017
in Editor's News
Share on FacebookShare on Twitter

Trust is so important in the corporate world that it can make or break business deals. This is one of the findings of a recent study from Iron Mountain®, the leading storage and information management services company. The study found that the majority of business leaders see customer trust (91%) or partner trust (88%) in their organisation as valuable and 95% agree that trust is important when making a major business decision, ranking more important than price in the final decision. The findings also suggest that organisations with good information management policies and practices are more likely to be trusted than businesses without these in place.
The research, which questioned around 3,000 business leaders, highlighted several important factors that can erode trust. A high number (77%) said they would lose trust in an organisation that had experienced a data breach, placing secure information management at the heart of maintaining trust between organisations and their customers and suppliers.
Once lost, trust and reputation can be hard to restore. The research shows that most (78%) business professionals believe trust can rarely or only sometimes be repaired once it has been broken, with a small number (2%) holding a view that broken trust can never be repaired.
Reputational considerations were important for many. The majority, for example, saw high value in positive media attention (86%), the strength of their organisation’s brand (88%) and how senior leaders are perceived (89%). Most placed high value on protecting business-critical information such as customer records (87%) and intellectual property (92%), emphasising the importance of managing critical information securely to minimise the risks of breaches, mitigate the risk of reputational damage and maintain good relationships with suppliers and customers.
Commenting on the findings Elizabeth Bramwell, UK Commercial Director at Iron Mountain said, “Secure information management has become a business differentiator. It is important to building and maintaining trust between businesses and stakeholders. With our study showing the important role that trust plays in business decision making, we urge organisations to put robust information management policy, process and practice in place. Policy and process, however, are nothing without the support of employees. Businesses need to measure how effectively they are managing information, address any shortcomings and make sure that employees understand and follow policy. Fail to keep information secure and your business risks serious damage to its reputation and its relationships with customers, suppliers and employees. All of which will ultimately hit the bottom line.”
For more on the information challenges facing businesses in Europe today, download the full guide on how to prepare for the General Data Protection Regulation from Iron Mountain.

FacebookTweetLinkedIn
Tags: CybergdprsecurityTechnology
ShareTweet
Previous Post

Financial services firms prepare for influx of new cybersecurity regulations, according to survey from Duff & Phelps

Next Post

Intercede and Centrify partner to streamline secure mobile access for highly regulated enterprises

Recent News

Guide to ransomware and how to detect it

Guide to ransomware and how to detect it

September 28, 2023
software security

Research reveals 80% of applications developed in EMEA contain security flaws

September 27, 2023
Cyber insurance

Half of organisations with cyber insurance implemented additional security measures to qualify for the policy or reduce its cost

September 27, 2023
Fraud and online banking

Akamai Research Finds the Number of Cyberattacks on European Financial Services More Than Doubled in 2023

September 27, 2023

The IT Security Guru offers a daily news digest of all the best breaking IT security news stories first thing in the morning! Rather than you having to trawl through all the news feeds to find out what’s cooking, you can quickly get everything you need from this site!

Our Address: 10 London Mews, London, W2 1HY

Follow Us

© 2015 - 2019 IT Security Guru - Website Managed by Calm Logic

  • About Us
No Result
View All Result
  • Home
  • Features
  • Insight
  • Channel News
  • Events
    • Most Inspiring Women in Cyber 2022
  • Topics
    • Cloud Security
    • Cyber Crime
    • Cyber Warfare
    • Data Protection
    • DDoS
    • Hacking
    • Malware, Phishing and Ransomware
    • Mobile Security
    • Network Security
    • Regulation
    • Skills Gap
    • The Internet of Things
    • Threat Detection
    • AI and Machine Learning
    • Industrial Internet of Things
  • Multimedia
  • Product Reviews
  • About Us

© 2015 - 2019 IT Security Guru - Website Managed by Calm Logic

This site uses functional cookies and external scripts to improve your experience.

Privacy settings

Privacy Settings / PENDING

This site uses functional cookies and external scripts to improve your experience. Which cookies and scripts are used and how they impact your visit is specified on the left. You may change your settings at any time. Your choices will not impact your visit.

NOTE: These settings will only apply to the browser and device you are currently using.

GDPR Compliance

Powered by Cookie Information