For many business owners and managers, improvements in workforce productivity and reduction in print-related costs are what come to mind when speaking about managed print services.
But managed printing has much more to offer your business and the improvement in security is a major benefit.
The Importance of Securing your Printers
There was a time when printers were capable of just one thing: print data…. Nowadays, with the advancement in technology, printers do more – from printing and scanning to storing data. The improved technology means that a built-in memory can hold very large amounts of data.
No question – these progressive, multifunction printers make it easier for employees to accomplish their printing-related tasks. However, these devices can also pose threats to the entire organisation.
Printing devices can provide an unseen entry point to the company’s IT infrastructure. Once inside the system, unscrupulous cyber criminals can steal sensitive information and wreak havoc on your entire IT system.
In 2018, a report by Quorcica found that 60% of companies based in Germany, France, the United Kingdom and the United States experienced a print-related data breach. These breaches have an immense impact on organisations – tarnishing their reputation and causing them to lose business.
Following a data leak incident, companies experience a significant drop in their trust rating. This can impact their client base, weakening trust and reducing new customer acquisition. Ultimately this means one thing – loss of business.
A piece of IBM research released in 2018 stated that a data breach incident was estimated to cost companies an average of €3.5 million. This is 6.4% more than in 2017. Of all the components that contribute to data breach cost, the largest percentage comes from loss of business. It accounts for €1.31 million of the €3.5 million.
Meanwhile, for companies handling EU citizen data, because of the GDPR they also have to contend with regulatory sanctions on top of the business penalties. Just last year, British Airways suffered an attack which compromised 500,000 customers data. As a result, that company was slapped with a €2.07 million fine because of the GDPR.
Without a doubt, data breaches due to insecure printers can hurt a company financially. Worse, it may even cause your business to fold, especially if you are an SME.
Regardless, if you handle confidential information, be it employee or customer data, you need to ensure the security of your print infrastructure.
How to Secure Your Print Environment
Reputable managed print services providers recognise that organisations do not just need a highly efficient print infrastructure. They also require one that has robust security that can protect them from malicious attacks. Hence, one of the key features of MPS programs these days is secure printing.
As part of its print audit, the MPS firm conducts a security assessment of the company’s print environment. Here, the provider looks for vulnerabilities in the organisation’s printing process and devices.
Once the gaps are identified, measures are proposed on how the company can minimise its risk of suffering a data breach. These may include using printers with advanced security features like user authentication, data encryption and auditing software.
Determining the right solutions, a company needs to enhance its print security is only possible when all vulnerabilities are correctly identified.
This is not an easy task. It requires expertise and sophisticated tools. So, make sure that you carefully select your MPS provider. Pick one that is not just an expert on managed printing but also on data security.
In need of a reputable secure managed print services provider? You’ve come to the right place! Call us today at 1890 987 900 or request a callback from our print specialist…