The Need for Data Auditing
Enterprises have never been more dependent on their data. For most, data is the lifeblood of the organization. So when data is compromised, business is at risk. Consequences of improper data use can include damage to brand and company reputation, loss of value in stock purchase price, customer attrition, fines, and even lawsuits. Enterprises that manage the inherent risks associated with the access and use of data mitigate their exposure for business loss and assure data integrity.
Demands for Accountability
More accountability to assure the integrity, security, and privacy of data is demanded by stakeholders including customers, partners, auditors, and regulators. Demonstrating accountability has become a boardroom issue for corporations, the burden of which is reaching beyond the offices of the CEO and CFO to the CIO and the IT organization as a whole.
More & more organizations are requiring their vendors to be 3rd party audited, while it is yet to be mandatory, it is highly suggested as media buyers continue to insist on working with only Trusted Partners.
Human Error & Fraud
According to IAB figures, fraudulent impressions, infringed content and malvertising cost the U.S. digital marketing, advertising and media industry $8.2 billion annually. Consider the following scenarios. An employee keys an incorrect selling price into the database that feeds the price list of a national retailer. The incorrect price is published before the error is discovered and, as a result, the company must honor the advertised price. In scenario two, an employee steals money from her employer by setting up a fictitious employee ID and payroll, which deposits directly into her own bank account.
The consequences of either scenario can be dire and very public. Data misuse, loss, or corruption from human error or fraud can be a disastrous event resulting in financial losses, damage to reputation, even lost customers.
BPA iCompli Tech Assurance engagements protect brands from these challenges. Reducing risk is a competitive advantage in the marketplace.
It's a brand solution and a business solution.