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Intangible capital & The management of sensitive data

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Sensitive data protection

In the heart of business valuation, there is necessarily a flow of strategic, technical, commercial and financial, as well as organizational data. Among them, some are considered “sensitive” given that their value depends almost exclusively on the privacy, or confidentiality, which is assigned to them.

Effective management is necessary for strategic data

Businesses (and organizations) have a value that can be linked to information protection. And especially when the latter is at the heart of particularly competitive innovations. Likewise, the competitiveness of companies may depend on a certain sharing of information between commercial and financial partners. The performance of organizations is therefore centered around the concepts “say too much “Where “ not say enough which constitute business strategies.

In addition, the communication that takes place within companies and organizations must integrate and manage sensitive (or confidential) information, while paying attention to the public context which requires transparency for all stakeholders. It is therefore in the face of these different challenges that companies must base their information management and protect their confidential data.

This management, therefore, allows companies to take legal action in the face of potential criminals who are spying on their strategic data.

A five-step process

Confidentiality can be managed by respecting five steps.

Identifying sensitive information

Before organizing data protection, it is essential to identify this information within the businesses, the life cycles of products and services and the pursuance of various projects.

Data classification

Once identified, data must be classified according to the level of protection it requires public information, internal information, internal and confidential information and internal and private information.

Risk analysis

Risks must also be analyzed if a correct assessment of sensitive information is to be achieved. The analysis focuses on several criteria, including how important this information is (or its usefulness) and how serious a possible breach is (what threat to the company?).

Protection of confidential data

The protection granted to them must take into account several elements:

  • The physical means and information that ensures the security of sensitive data;
  • The establishment of a management system and management of this data.

But it is also important to:

  • Perform audits of existing resources;
  • Have operational strategies recommended if necessary;
  • Deploy the device to current suppliers or research new ones.

Promote the development of managerial culture

In addition to all the systems that must be allocated to protecting and securing data, the management of sensitive information must be able to generate a strong company culture. It is not intended to maintain a type of cult of secrecy in the company, but to allow updated sensitive information communications.

I'm a passionate full-time blogger. I love writing about startups, how they can access key resources, avoid legal mistakes, respond to questions from angel investors as well as the reality check for startups. Continue reading my articles for more insight.

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