How to Avoid the Costly Headaches of a Data Breach

In the wake of eBay's recent data breach, many consumers and security professionals have been extremely vocal in their protest of the company's response to the situation; some are calling it one of the worst corporate crisis responses they've ever seen. eBay's stock price in the days after the breach took a major hit, dipping to the lowest since December 2013. When considering the costs of a data breach, damage to company systems, loss of intellectual property, remediation and forensic costs are usually what come to mind. Some organizations also factor in the cost associated with reputation damage, which may harm revenue, as well as industry fines or possible prosecution. Thycotic, a provider of privileged account management solutions for global organizations, has compiled the following list of best practices for mitigating data breaches and avoiding the costly headaches associated with them.

Thycotic Software deploys smart, reliable, IT security solutions that empower companies to control and monitor privileged account credentials and identity access for administrators and end users. An Inc. 5000 company, Thycotic is recognized as the fastest growing privileged management vendor in IT security and one of the top 30 fastest growing companies headquartered in Washington, D.C.