Find the Best Data Loss Prevention (DLP) Software

What is Data Loss Prevention Software?

Data loss prevention (DLP) is a set of methods, tools, and processes to prevent the loss of sensitive data such as user information, passwords, bank information, etc. It is governed by a regulatory framework such as HIPAA, PCI-DSS, or GDPR worldwide.

Keeping sensitive data susceptible to exposure can bring in many unnecessary troubles, which is why the data loss prevention software market is growing exponentially. More and more companies are tightening their cybersecurity from any data loss and breaches.

Benefits of Using Data Loss Prevention Software

With growing data volume in your business, monitoring and protecting all the files manually via staff might still be time-consuming and energy-wasting. An automated data loss prevention software can help you work out things in a much better way instead. Here's how:

1. Personal Information Protection

If you own an e-commerce store or any B2C business for that matter, you would be collecting information about your customers, such as their card numbers, phone numbers, addresses, etc.

Your customers wouldn't want a third party body to know their financial or personal information. Data loss prevention software can help keep all of this information safe and keep your customers' faith intact.

2. IP Protection

Has your organization created a formula that might have the chance of being patented? Or perhaps your business has trade secrets that would affect the brand if they are stolen and made public property?

With the proper definition of this data and the right data loss prevention software, all of your sensitive information can be protected.

3. Data Visibility

Would you like to have more insight into how data moves within your organization and how an individual, a team, or department interacts with any given data of your company? A proper data loss prevention solution can help you gain this insight.

4. Automation

Some of the features can automatically be put in place when new information is entered, so the data loss prevention software helps automate some of the processes.

Features to Look for in a Data Loss Prevention Software

There are tons of cybersecurity or data breach security software in the market. Most of these software systems will have some standard features and some customizing ones to cater to your requirements.

Here are some of the most common features of data loss prevention software that you should look for:

1. Content Analysis

Content analysis is one of the most basic data loss prevention software features. Data is stored in the form of content – files containing graphs, tables, numbers, and prices.

Most DLP software can crack open files. For example, the software should be able to read an image attached to a word file that has been archived and encrypted.

2. Data Loss Prevention During Motion

The software should be able to read data anywhere through its cycle – in motion or at rest.

For example, if someone is sending confidential information through an email to someone in the organization but doesn't have clearance, the DLP software should detect this transmission and alert the authority.

3. DLP of Data at Rest

Another feature is "content discovery," enabling the software to look for a specific file across all email services, networks, workstations, document servers, etc. at the same time. This means you can impose a single policy across all data even when it is in different systems.

4. DLP of Data in Use

Data in use is any data currently being viewed or is open in an application. If this data falls under the sensitive information category, it should be detected by the data loss prevention software.

5. Administration

A right DLP solution would ideally provide a central administration control (preferably in the form of a dashboard), which should allow the owner to change who controls which policy, what kind of information is sensitive information, the penalties for any type of breach, etc.

The admin should also be able to define who can access which data and control the access of others to the same kind of information.

6. Policy Management

This is an essential feature of data loss prevention software. It helps you control your entire organization's security by enabling you to create policies and decide what constitutes sensitive information.

With policy management, you should also determine what transmission channels are protected, endpoints, destination devices, etc.

As you evolve your organization over time, the business operations evolve and create new requirements for protecting information in new ways. This is where policy management comes in.

7. Real-Time Analytics

The DLP software should be able to provide real-time notifications; that is, it should detect unauthorized access to data and prevent its loss as it happens.

The admin or controller should immediately be notified, through features such as push alerts, email notifications about the occurrence of data loss so that the appropriate action can be taken at once.

Wooh! That's a lot of information, but the bottom line is, you need good data loss prevention software to protect sensitive information. So, let's talk about what you need to look for while purchasing one.

Things to Consider While Purchasing A DLP Solution

There are four questions that you need to go through step-by-step while checking out different data loss prevention software from multiple vendors.

1. What business information do you need to protect?

Think about what information you need to protect, who has access to it, which devices have access to this information, and so on. Make sure to include company affiliates such as the HR department and the risk management team.

Also, make sure to consider external bodies that you have hired, such as a legal firm. What information do they have access to? Knowing this, it will help you purchase the software with the right features.

2. Does the software have all the necessary features?

In the previous section, we listed out the basic features of data loss prevention software that are almost common to ask from all DLP software providers.

Do the ones that you have shortlisted have these features? If they don't, what features can you choose to compromise on so as not to prevent your data loss?

3. Can it adapt to your business requirements?

Not all businesses require all the features; some companies would require a different kind of implementation of all the elements, and still, others would need only one. Is the software adaptable?

If there are possibilities of having new types of information, sources, or even modes of transmission someday with the expansion of your organization, the software should be able to scale along with you.

4. Is efficient cost-wise and in utility?

Last but not least, you should consider if your DLP software is efficient and has a proven track of successful data loss prevention. You can look at the user database of the software.

Another thing you might want to consider is how much the implementation of DLP costs and if the information in your organization is worth the money in the long run.

These are just some of the factors you should consider while purchasing a DLP solution. A good practice would be to have a meeting with the IT department and decide what's best for the organization.

Are All Industries Adopting DLP Solutions?

Yes, almost all industries are adopting data loss prevention software. In 2019, the DLP market was valued at USD 1.21 billion by a Mordor Intelligence report. It is expected to reach USD 3.75 billion by 2025.

The IT industry is a key "implementer" of DLP; however, many other industries, such as the healthcare industry, understand the importance of data loss prevention and are fast adopting the same. The manufacturing and logistics industries are some other examples.

Governments have taken these trends and have created regulatory frameworks such as the HIPAA, which continue to evolve as the industries demand.