European businesses not protecting customer data

Businesses across Europe are compromising their customers' personal details by failing to implement security policies that protect confidential data that goes to print, according to a recent study.

Only 46 per cent of financial institutions have a document security policy in place to restrict the printing of customer information, according to research undertaken by printer manufacturer Ricoh. Meanwhile, just 43 per cent of organisations in professional services and 48 per cent in the telecommunications, utilities and media industries have a fully implemented document security strategy. Public sector organisations are the biggest culprits, with just 33 per cent implementing such a strategy.

However, the company claims that the majority of business leaders in Europe have a strong understanding of the need to protect printed information, and almost half of all respondents (49 per cent) are equally concerned about the risks from digital and printed information.

The failure to implement adequate security measures can be attributed to decentralised document governance, claims Ricoh. With no single function accountable for this responsibility, it is often managed by several people across the business or delegated to department heads or individuals.

Duplication and inefficiency are a result of this decentralised approach, which also impacts productivity and sustainability, according to David Mills, CEO at Ricoh UK.

"The most effective way to manage the challenges and gain return on investment is to ensure that a business's document assets are managed as an integral part of an organisation’s overall information management and security strategy," he explained.

"Also, by implementing a centralised and strategic document governance strategy that assigns clear responsibility and accountability for the document workflow, businesses will reduce the risk of confidential data getting into the wrong hands, and critically drive down cost and process efficiencies across the whole business.”