Healthcare/Legal/Financial industry verticals have one thing in common: they work with huge volumes of mission-critical proprietary data, that they preserve and update all the time. It is very easy for businesses to lose data through accidental deletion, or even through malafide activities. Businesses are extremely vulnerable when they lose critical data files. The loss of valuable information can cause enterprises to lose millions of dollars worth of business and affect business continuity. 7 out of 10 small firms that experience a major data loss are out of business in one year.
You have decided to backup your company data. The next question would be where will you backup and who will you trust to protect your data? Confidentiality of your data is critical. No companies would like their information available to anyone outside the organization, especially if it is organizations dealing with medical, legal or financial markets. Your business will need some robust data protection mechanism where the data gets encrypted before it leaves your system and stored in a format, which only you can access. Let’s see the different industry verticals and how online backup addresses them.
Backup Healthcare Markets: HIPAA Compliance
When you outsource your data to a trusted third party online backup solution provider, you must ensure that they have a framework in place to comply with HIPAA regulations. HIPAA (The Health Insurance Portability and Accountability Act) defines rules and regulations on privacy and security practices of health care information.
A HIPAA compliant online backup provider should encrypt the data before it is sent over a secure SSL connection to the server, so that the data is not accessible to anyone – not the backup provider, or employees who are not authorized to access the data. The backup provider must also ensure that the local backup which is taken is also encrypted prior to transmission to the remote systems. An effective solution in this case would be to devise an Encryption Key, which will be generated by the customer and is kept confidential only to the customer.
Any covered entities, health plans, healthcare clearing houses, such as outsourced billing companies and community health information systems and health care providers who transmit health care information should abide by the compliance stipulations as mandated by HIPAA. February 2009 HITECH Act has significantly raised the HIPAA compliance bar for medical offices across the United States. Penalties for a single violation can total $250,000, with a maximum of $1.5 Million for repeated or uncorrected violation. If you operate a medical practice, the Security Rule specifically requires that you put safeguards in place to remain compliant with Electronic Protected Health Information [ePHI], including Data Backup and Data Storage Plans. SOS is the expert in online data backup for medical offices and any business that deals with ePHI for disaster recovery, data backup and off-site computer backup. We make your critical business data HIPAA compliant.
Backup Financial Markets – Sarbanes-Oxley Compliance
Majority of organizations today use e-mail services to communicate internally for correspondence and exchange of documents between businesses and outside consultants. Many of these communications contain information about business transactions and business decisions. It is mandatory for such organizations to retain this vital information to comply with the provisions of Sarbanes-Oxley.
The Financial Services sector accounted for 94% of all the compromised records in 2009. Violations of data protection regulations (such as Sarbanes-Oxley, SEC 17 a-4) can cost your firm fines of up to $5 Million and 20 years in prison.
A SOX compliant online backup solution should ensure:
- Sophisticated encryption system
- Unlimited version archive
- Redundant backups
- Multiple global SA 70 Type II audited data-centers
SOS Online backup ensures complete privacy protection & mandatory data retention. It uses military-strength encryption to compress and encrypt your data throughout the backup and restore process. SOS Online Backup uses a three-tiered encryption system which encrypts data on your computer, again during transfer, and finally when it’s stored in the data centers which are all SAS 70 Type II audited.
Backup Legal Markets – IBA Compliance
The legal industry, similarly, has issued a federal recommendation through the IBA (International Bar Association) and many of the State Bar Associations have issued recommendations that all law firms and the clients of law firms use offsite backup or online backup solutions.
Law firms deal with a wide range of legal documents, and maintain libraries of legal statutes, forms, rules, case laws, and reference books. Legal Compliance mandates all law firms keep copies of both existing matters and closed cases. An IBA Compliant Online Backup Solution from SOS addresses that.
Online backup is the best way to make sure that you never lose any piece of information. Once you have an online backup system in place, you do not need to waste time on backing up the data each time manually. The system will do everything for you. All you have to do is schedule when to automatically store the information. You can backup your data on a weekly, daily or hourly basis. You can also backup your data on a real-time basis so that all your data is backed up as and when it is created or modified.
To stay compliant, when you would like to choose the best online storage provider, you should pay detailed attention to all the features that are offered by the provider. It is extremely important that you are able to reach the provider 24×7 in case of any disaster. Your online solution provider should give users access to their data on demand. Additionally, historical versions of a file should be stored to compare and contrast document revisions. You should be able to restore your files within minutes if it is maliciously or inadvertently destroyed in your local system.
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Business users contact us for some fabulous offers!