If you’ve ever been involved with new product development, then you’re well aware of the copious number of files required to get the job done. If you work in IT, then you probably know of the risks associated with handling this mass of documents. With every document produced, there is more risk, and with it the potential for cybercriminals to get their hands on your institution’s intellectual property. For this reason, cybercrime tends to be one of the foremost fears for many organizations.

A recent study by Cybersecurity Ventures shows damage related to cybercrime is projected to reach $6 trillion by the end of this year, while worldwide spending on cybersecurity is estimated to reach $133.7 billion by the year 2022. Although necessary, cybersecurity can be costly and can sometimes feel like a monumental waste of money. To understand how your organization can save on cybersecurity costs, you must first have a fundamental understanding of where the majority of threats are coming from.

In the media, cybercrimes are usually depicted as attacks by experienced hackers, foreign entities, and large-scale criminal organizations. Evidence suggests; however, this is not usually the case. What many people don’t realize, is the majority of cyber-attacks aren’t brought on by large criminal enterprises, but rather, by smaller groups attacking the organizations lack of basic security protocols. In many cases, cybersecurity threats even come from within an organization.

A survey by The Ponemon Institute shows roughly 70% of employees have access to files and documents they don’t need, making it easy for rouge agents to steal the company’s intellectual property if they wish to do so. The same study claims 80% of all companies don’t give their employees access to information on a need-to-know basis. While we can assure you not every employee has a hidden agenda, we’re well aware it only takes one bad employee to cause irreparable damage to a firm.

Further Reading: What is a Document Management System?

Engineering and manufacturing companies are among some of the most vulnerable when it comes to intellectual property theft since these organizations manage large volumes of files and documents that are important to the design and production of their products and buildings. One of the easiest ways to prevent cyber-criminals from accessing proprietary information is to implement a formal document management system. (Large standards setting organizations such as NIST and ISO highly recommend the implementation and maintenance of formal file management solutions.)

ImageSite is one of the most advanced document management systems on the market. With it, system administrators can control functionality, downloads, and revision capabilities of users and specific files, while document security can be applied at the group, user, file, and file metadata levels.

With ImageSite, you can ensure only the workers who need access to a specific document have it, making it extremely difficult for those with nefarious intentions to get to files or documents without authorization. In addition, it’s an excellent tool for managing files and documents in compliance with NIST regulations, particularly all 14 Security Categories specified in NIST SP 800-171.

Security begins from within an organization, which is why companies like General Dynamics are using eQuorum’s products to protect their assets from both internal and external threats. ImageSite not only provides access control but also utilizes powerful, commercial-grade security provided by AWS.

For more information visit www.eQuorum.com, or schedule a demo here.