As data breaches grow increasingly common and dangerous, another consequence of insufficient security is beginning to emerge. Data breaches are costing healthcare organizations and businesses more money than ever, meaning that not only does customer trust fall, but so do revenues.
For example, it was announced this week that Target will be lowering its earnings outlook for the second quarter due to costs incurred from the company's 2013 data breach where hackers stole the financial information of tens of millions of customers.
According to a statement released by the company, the breach cost nearly $150 million the Los Angeles Times reported. Costs from the breach include losses related to actual and potential claims, including those filed by the credit card companies.
Target has been struggling since the breach and took an especially hard hit when sales fell during the holiday season. The company also expects to earn less on shares than previously hoped as they try and regain the trust of customers and investors, another result of the breach.
For companies looking to implement technology to protect sensitive enterprise information, fax-over-IP is a secure and reliable solution. FoIP services allow companies to send faxes over the Internet and, in the process, create an encrypted database of information stored in the cloud.
When a message is sent with FoIP, the information within is stored on an organization's dedicated server and encrypted. The document's intended recipient is the only person with access to the code to decrypt the message, making FoIP the safest form of business communication. At the same time, all faxes sent with a FoIP service are saved to the cloud and can be accessed by authorized users from anywhere with Internet access. Records and other sensitive documents can be kept securely on the dedicated server, eliminating the possibility of physical records being stolen and greatly reducing the likelihood of a data breach.
Send online faxes safely and enhance enterprise communication, collaboration and compliance efforts with a proven FoIP solution from FaxCore. Contact FaxCore today to learn more about their 'Partly-Cloudy' fax solutions.
