‘Data Privacy’: Our Tech Experts Share Their Insights | Part II

January 29, 2024 | Blog

In the Forbes article, written by Kara Dennison, she shared the importance of cybersecurity for businesses, explaining that it’s imperative, especially for companies handling big chunks of data, to take the lead in securing their data. “As businesses continue storing and utilizing vast amounts of information, it’s become critical to ensure robust data protection measures. Now is the time for business leaders to understand the importance of cybersecurity and how organizations can adopt proactive strategies to safeguard data privacy,” she said. This is relevant and timely, as we experienced data breaches in the Philippines and its government agencies, PhilHealth, and PSA. 

Also read: ‘World Data Privacy Day and the Importance of Securing Your Data  (Part I) 

It is why IT Group, Inc., one of the leading IT Solution partners in the Philippines and in the ASEAN region, and its Tech Experts rally over and support data privacy and security for its clients and business partners, especially as we celebrate World Data Privacy Day. Recently, we heard Ryan Ching, our Head of Enterprise IT Infrastructure Solutions, that security means being open and transparent, while Rommel Bernabe, our Head of IT Management Solutions, shared the other side of the spectrum, saying that security in business should always start from the inside out.

Proactive Data Security for Business Operations

To ITG Indonesia’s Head of Business Management Solutions, Fivda Harry, security means trust and integrity to protect what’s important to their business—their clients. Harry explained that data privacy and security can make or break the relationship between the integrity of a business and the trust of their customers. “If we have data security in our businesses, we’re making sure to our customers that all of the information is safe with us, ensuring that their personal and financial data are handled responsibly and securely,” he said.   

But more than confidentiality of sensitive information, Harry gave us the bigger picture of the story–a 360-degree view–as to why data privacy and security are interconnected in the overall business ecosystem. “Business operations depend on accurate and trustworthy data, so data security measures such as encryptions help maintain the [data’s] integrity, preventing unauthorized modifications. Unauthorized access to the information can lead to serious consequences, including financial loss and damage to the company’s reputation and integrity,” he said. 

Also read: Streamlining Financial Operations: How to Apply for BIR CAS in the Philippines 

Harry further explained that data security can be categorized into three: personal data, public data, and business data security, which are all equally important. In terms of enterprise resource planning or ERP and Business Management Solutions, Harry highlighted that personal and business data are the most critical.

“So data security extends to the entire supply chain. Data security ensures that critical business data is available when you need it. It also ensures there’s protection against data breaches, cyber-attacks, or threats and helps prevent the destruction of business operations,” he said. “We need to ensure we adhere to strong security practices to prevent vulnerabilities in the overall systems. There is also compliance. Data security also means we have to meet the laws and regulations. We are avoiding the legal consequences, financial penalties, and the [lack of] customer trust.”

Indonesia’s Head of Business Management Solutions Fivda Harry during the The New Approach of Forward-Thinking CFOs and COOs Lunch and Learn event

According to Harry, the best way to have a secure line of business operations and ensure continuity is to have a proactive approach when it comes to data security. “There is risk mitigation to this. By considering data security, we identify and mitigate potential risks. We prevent breaches and minimize the impact of cyber threats and other security incidents on business operations. We proactively prevent [data] security incidents. In the event of security incidents, having a good security strategy for incident response will ensure we can recover quickly,” he said.   

Harry emphasized that when choosing the right partner to help you to secure processes, Oracle NetSuite, ITG’s solution partner, has some of the best features and practices to protect your business from cyber-attacks, such as data encryptions, audit trails and logging, two-factor authentications, IP address restrictions, data centers security, and data back-up and recovery, to name a few. 

He also mentioned that businesses should always go for software providers with the highest certifications and distinct credentials that comply with data security, like ITG and Oracle NetSuite. “We don’t want what we have worked on the next day to be already out there in the market. Data security, of course, it’s viable. We need to protect [our] innovation to maintain our competitive edge,” he ended. 

Let’s Venture Together in Celebration of World Data Privacy Day  

For over 20 years in the industry, ITG has continued to provide excellent customer service to our clients with our technological partners, rallying over the importance of data privacy and security as one of our top priorities in promoting digital transformation. In celebration of World Data Privacy Day, ITG encourages you and your business to be cyber-ready in this modern time. Learn more about how ITG can elevate and fortify your security and data privacy today.