Many manufacturing companies depend on technologies to safeguard their sensitive data. Yet, as you will possess many trade secrets, as well as growing consumer data, you could be at risk of a devastating cyber attack, which could signal the end of your business.
Rather than allowing your business to become an attractive target for a cyber attack, find out how to effectively protect your manufacturing company’s critical data.
Understand Your GDPR Requirements
Many manufacturing companies are acquiring a substantial amount of data from their product orders, even after it has been shipped to their customers. They are then using this data to identify how their products are being used, which can help them to make alterations to the next model.
However, it is important to realise that if select data can be connected to an individual, this will be classed as personal information, which must be managed in accordance with GDPR regulations.
A manufacturing business must, therefore, state the data they possess and why they have it. Plus, they must be able to prove they have received a customer’s permission to hold onto their data.
If you fail to comply with your GDPR requirements, you may face:
- A maximum fine of €20 million (£17.5 million) or 4% of your global annual turnover
- An audit
- The erasing of data
- Limited data transfers to other countries
Effectively Defend Your Intellectual Property
Intellectual property is the cornerstone of modern manufacturing businesses, as they will rely on their product design data and production plans to power their operations. Unfortunately, the exposure of your design data could lead to your ideas being stolen by your competitors, which can ruin your company’s market advantage.
For this reason, you must find ways to defend your intellectual property. For example, you could seek legal advice from hjsolicitors.co.uk on how to protect your IP.
It is also vital to protect your business from a potential cyber attack, which can prevent your design data from falling into the wrong hands. To do so, adopt a higher level of encryption to store all company information safely, and limit admin control on sensitive data.
Limit Use of Design Data
Every manufacturing brand must maintain firm control of their intellectual property. To effectively do so, you must ensure all partners sign an agreement to limit the use of your company’s design data. For example, Digital Rights Management (DRM) can now restrict how many times they can use your set of data, which can successfully protect your copyrighted work.
Stay Up-to-Date on Cybersecurity
Adhering to the Data Protection Act (2018) and GDPR might seem like a tough challenge, but it is essential for your company’s reputation, finances and longevity.
To avoid a data breach, you must not only gain an understanding of various data regulations, but you must stay up-to-date on the latest cybersecurity threats and technologies to safeguard your business and data each day.
What’s more, you must provide all members of staff with cybersecurity training to ensure your business never falls vulnerable to a hacking due to an internal mistake.