Why Your Internal Contract Security Measures Probably Aren't Enough

A strong data security strategy is crucial to ensuring that valuable, confidential company information, including contract data, is protected. Plenty of companies implement internal contract security measures, but things like user pins and password protected accounts likely do not go far enough. Given the alarming increase in hacks, even on seemingly secure networks, companies have a duty to ensure that both their data and any client data are adequately safeguarded. Here is why your internal contract security measures probably aren't strong enough:

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Don't Use Contract Management Software That Can Access Your Data

Data security has to be one of the most important components of a company’s technology systems. There have been countless data breaches over the last few years, and they will likely only grow in frequency and scope. One of the ways that companies can avoid succumbing to a massive data breach is by investing in purpose-built software solutions that not only meet their business needs but consider the security of the data stored within it a high priority. This is important for any and all types of company data, including the information that is contained within a company’s contracts.

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Contract Security Isn't Just About the Technology

Security and privacy are hot topics in the data world. These words may sound like they mean the same thing, but they actually address slightly different areas with respect to data protection. Although some people may be aware of the distinction, just to be clear, security relates to how data is protected whereas privacy relates to the appropriate use of data. So, data security is focused on things like firewalls, authentication procedures, and encryption, but it is these security measures that enhance data privacy, meaning private information does not fall into the hands of someone who should not have access to it. Thus, it is clear that you cannot really have one without the other. 

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How Contract Management Software Will Help Your CFO Sleep Better at Night

CFOs have a lot on their plate. And, contrary to the second word in their official title, they do not just oversee a company's finances. The dynamic nature of business requires leaders in any capacity to understand and make decisions regarding various matters. Fortunately, there are business solutions available that can make the life of a CFO a lot less stressful. Here is why contract management software (CMS) will help CFOs sleep a bit better at night:

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