How Does Digital Rights Management Enhance Your Company's Security
As technological advancements create new, innovative ways for businesses to reach consumers with their content, this has also presented new challenges in content protection. Unlike traditional forms of media, digital content can be easily replicated and distributed without permission. The issue is compounded by difficulties in monitoring internet activity to prevent unauthorized distribution, sharing, and modification of sensitive data and content. As a result, digital rights management has come to the forefront as a means to set up effective barriers that protect intellectual property against misuse.
Digital rights management solutions involve using technologies to control access to copyrighted material. This can be done by restricting content to specific IP addresses, encrypting the material or setting expiry dates for digital content. Businesses can also limit the use of the content, such as printing or editing, and assert content ownership through watermarks.
Benefits of Digital Rights Management for Business Security
In the Philippines, which ranked fourth among Kaspersky Security Network’s list of nations most targeted by cyber threats, companies may find digital rights management solutions instrumental in helping them mitigate risks and maintain business security in various ways:
Revenue Protection
When companies use a digital rights management software, they can deter individuals from accessing and using copyrighted material. Digital rights management solutions can also prevent unauthorized users from copying and profiting from this content.
Reputation Protection and Ensuring Business Continuity
With weak data protection, bad actors can easily access a company's systems and wreak havoc on business operations. On an internal level, the impact of data breaches can range from minor inconveniences to a debilitating blow to business continuity when strategic information is wiped out or abused. On an external level, companies may face legal liabilities when malicious actors abuse their systems to commit crimes.
Companies that fall victim to hacking or ransomware attacks may also attract negative press that damages their reputation, affecting their ability to retain and attract customers. This is a concern in the Philippines, where it was found in a Unisys Security Index survey that one in five consumers will stop dealing with a company that has experienced a data breach. However, when digital rights management solutions are adopted, sensitive files will be encrypted such that they cannot be opened without the right software or devices. This provides assurance to companies that confidential information remains inaccessible even when unauthorized users obtain these files.
Digital Rights Management Applications in the Finance Sector
As digital transformation gains traction in the corporate world, digital rights management has been widely adopted by companies across all industries. One sector that has seen a lot of interest in digital rights management applications is the finance sector. This is because the financial sector deals with large amounts of money and personally identifiable data daily, and such information is of high interest to bad actors who often launch attacks for financial gains. When critical information from financial institutions is breached, suffering a loss of reputation and customers is only a part of the equation for these companies.
As one of the most heavily regulated industries in the world, data protection is a vital part of compliance for firms in the finance sector. Thus, regulatory bodies may also impose costly penalties on financial institutions for failing to safeguard the data they are entrusted with adequately. This penalty is in addition to the revenue loss and costs of implementing appropriate responses to manage the breach. Based on IBM’s findings, the cost for a breach averages US$4.35 million in 2022, which is a hefty sum of money. By adopting digital rights management solutions and software, businesses in the finance sector can avoid significant monetary loss and protect the interests of both the company and their customers.
How Digital Rights Management Solutions Benefit the Healthcare Services
In the healthcare sector, there is also a greater appreciation for the benefits of implementing a digital rights management solution. From patient medical records to personally identifiable data, the healthcare sector holds a rich database of medical information. When this information falls into the wrong hands, it can be abused to file fraudulent insurance claims, obtain medication, or used to exploit individuals and harm them. Moreover, as medical information can sell for an amount 10 to 20 times higher than credit card numbers on the black market, this further sets the sector up as a prime target for cyberattacks.
By implementing digital rights management solutions, organizations can set up barriers that prevent the theft of confidential information, thus protecting patients and healthcare providers from grave consequences. Additionally, by having sound data protection measures in place through digital rights management solutions, companies in the healthcare sector can also ensure compliance with regulatory requirements.
Why Digital Rights Management is Critical in the Media & Publishing Sector
Beyond the finance and healthcare sectors, digital rights management is also vital for the media and publishing sector, particularly with the rise of digital media. The popularization of digital technology and media has increased consumers’ ease of illegally accessing content for free. With a few clicks, copyrighted material can be copied and distributed without permission. This results in both a loss of revenue for content creators and a serious impact on the subsequent economic value of copyrighted works. For example, unauthorized copies of songs or movies can quickly proliferate online, making it difficult for the copyright holder to sell authorized copies.
When digital rights management solutions are implemented, files can be configured to block all means of copying and recording. Content creators can also limit the number of devices used to open or play purchased content. Meanwhile, watermarks stamped on written works serve as a distraction for readers, which encourages them to buy a legal copy instead.
Lastly, digital rights management software can be used to embed tracking IDs in all content, enabling copyright holders to track when and where their works are being used effortlessly. This increases their ease of enforcing their rights. Digital piracy is deterred through these layers of protection, ensuring that content owners can see returns on the effort, time and resources they have invested in creating the content.
Kickstart Your Digital Transformation Journey Safely with FUJIFILM Business Innovation
In today’s digital age, where data can be collected easily, every business holds some sensitive information. Thus, the importance of adopting robust security measures that adequately safeguard sensitive information against risks extends to all industries. By implementing these solutions, businesses can ensure that their stakeholders and the organization are well protected as business operations go digital. At FUJIFILM Business Innovation Philippines, providing the right tools and solutions to help companies safely embark on their digital transformation journey is at the heart of our business. This is why we offer document protection devices and security solutions, including the Digital Rights Management solution, to provide companies with a systematic approach to track, control and safeguard their data against threats.
With rich knowledge and years of experience in the industry, FUJIFILM Business Innovation is well-equipped to provide your business with reliable products and solutions to protect your most valuable assets. Reach out to our team today to learn how you can integrate our digital rights management solution into your business workflow seamlessly.
