When you choose to begin or maintain a business process outsourcing (BPO) relationship, concerns about security are common. Companies are increasingly aware of the risks associated with the management and transfer of data, and bringing in another party can lead to reservations. However, there are methods for securing your information while still enjoying the benefits of a BPO provider. Consider these few points to ensure that security is a top priority.
Your first step in securing information is to understand who has access to what. This gives you a full picture of what is at stake with each BPO supplier and makes it easier to evaluate the overall risk. Ideally, third parties should only have access to the data they need to perform their functions, with everything else remaining restricted. By limiting your overall exposure, you can lessen the impact if anything becomes compromised.
When security is a concern, it is important to ensure all parties involved understand the risks and are taking proper precautions. This means speaking directly with your BPO supplier regarding the proper handling, storage, and transmission of any data that would cause an issue should it be compromised or intercepted. Collaboration and communication are key to ensuring everyone has the proper systems and procedures in place to look out for the interests of your company, employees, customers, or other who would be affected by failing security.
To ensure all agreed upon security measures are in place, all parties need to monitor their systems for potential shortcomings on a regular basis, especially if the supplier is considered high-risk. While this can feel like a fairly involved process, it is still much less of a commitment than managing the outsourced services internally. So, take the time to create policies and procedures designed to outline how these tasks are to be completed and make sure everything is handled accordingly.
Regulations and guidelines are changing in the area of data privacy and security, making it critical for all businesses to stay apprised of emerging developments. For example, the State of California released new standards regarding security controls for businesses operating in the area, and New York proposed regulations that target the data protection activities of companies operating in the financial services sector.
Federal level procedures associated with the Department of Defense have also gone through changes recently, and are expected to affect DoD contractors in the near future. Companies that do business internationally are also feeling new pressure as countries like Canada and Australia, as well as the European Union, issue new requirements regarding data privacy and security. It is critical for all organizations to be aware of these changes and to be prepared to act accordingly.
Validity Solutions is a BPO partner that always considers security a high priority. If you are looking for valuable, cost-effective, and secure solutions for your company, contact us today to see how our services can improve your operations.