How To Protect Trade Secrets of Your Organization?

The Internet of Things (IoT) refers to a system of devices that communicate with each other via the internet, and share data without human involvement. The technology holds the potential to completely transform our personal, social, political, and professional lives.

The IoT industry was valued at an estimated USD 212.1 billion in 2018 but is expected to grow up to USD 1,319.08 billion by 2026.

Such growth is only possible because of the wide variety of areas where IoT technology is applicable. IoT holds the potential change everything; the way we work, communicate, socialize, and even how we live inside our homes.

How IoT can help your business:

Businesses are beginning to realize the importance IoT can have in improving their bottom lines. With Internet of things, companies can gather data from each employee, each device, each piece of equipment, even every customer and seamlessly integrate it into a system where everything can be analyzed. 

This holds immense potential as it allows businesses to cut back on time wastage, improve customer services, lower production costs, and improve efficiency.

While it may appear that only larger businesses will gain the most from IoT, smaller companies can also extract maximum value from the technology to improve their productivity and use rapid innovation for growth. 

More and more organizations are now beginning to recognize the value of allowing remote working.  Similarly, most organizations are now dependent on customers or clients based in another part of the world. Communication and seamless exchange of data are highly important for business growth.

Threats Posed by IoT:

However, while IoT can present many opportunities for large and small organizations, there are also threats that you may want to recognize.

Because of the rapid communication and exchange of data, there is a possibility that policies, strategies, and technologies that you may have developed in-house can potentially be copied or stolen by your competitors. According to a study, the value of trade secret theft was estimated to be between 1-3% of the US GDP. That represents a massive figure of USD 200-500 billion each year.

IoT can potentially magnify this threat because of the increased reliance on communication and data sharing. Critical insights that you have gained can be stolen by your competitors. While you can use advances in recent spyware technology to protect such data, you also need to ensure that your employees do not deliberately or accidentally share valuable information. 

You can use an application like XNSPY to keep track of your employees.

Here are some of the features that XNSPY offers:

Protecting Your Data:

You can use the XNSPY mobile app to make sure that valuable data of your organization remains safe. The app offers a range of features that you can use to monitor your employees and protect valuable information from leaking out. You may have invested heavily in both time and money in creating your organization’s policies, strategies, business plans, or customer data, but all of that can be lost in moments and give your competitors a powerful advantage over you.

Call Tracking: 

You can use XNSPY to record all incoming and outgoing calls and listen at your convenience. If you suspect an employee has access to sensitive information and is acting suspiciously, you can use the call monitoring feature. It also offers a complete log of all calls with timestamps – incoming, outgoing, and missing.

Social Media and Text Monitoring:

You can use the social media and text monitoring feature to keep track of communication your employees make – whether it is on text or popular social media sites such as Facebook. You can also add certain words that XNSPY will look out for and alert you if they are mentioned. You can select some keywords from an important document and add it to XNSPY. The app will notify you if those words are mentioned in a text message or on social media.

Location Tracking:

You can use the GPS tracking features to keep track of employees engaged in the transport of sensitive information or materials. Furthermore, if there is an important event where someone from the organization is going to, you can activate the geofencing feature so you will be alerted if the employee leaves the event. It’s a useful feature if you suspect someone may leak sensitive information, but you are not very sure.

Online Activity Report:

XNSPY offers an online activity tracker that gathers information relating to the online activities of your employees. If you are suspicious of someone, you can check which websites they are visiting or which keywords they are searching for, online. Information like that can be important in helping you protect your company’s valuable data. As with text messages, you can also add certain keywords so XNSPY will alert you if they are used within a phone. These keywords can be related to sensitive information that an employee may be planning to leak.

It is also important to acknowledge the importance of maintaining open communication between the employees and the management at an organization. Obtain the consent of your employees before installing monitoring apps to ensure transparency. Help them understand that protecting the organization’s data should be an important goal.

Conclusion:

IoT technologies are expected to reshape the way we live our lives. Consumer habits are expected to undergo a shift, as are professional working cultures. Quick and detailed communication will be linked with a network of devices that gather all kinds of data. 

This means that your organization will collect data that can be used to create company policies, operational goals, customer habits, and even list your organization’s weaknesses.

IoT will enable the collection and analysis of this information. Competitors at home and abroad will attempt to gain access to this information. This is where monitoring applications such as XNSPY can help protect your organization.

Also Read Internet of Things Features and Success