Cybersecurity is a business problem, and the frequency and severity of cybercrime is on the rise. In the age of cloud-based connectivity and remote work, business vulnerabilities to cybercrime are exposed, and the risk is increasing.
For the professional services industry, cybersecurity is mission-critical.
What’s at stake?
When it comes to cybersecurity, the cost of complacency is devastating, and the economic, reputational, and legal impacts can be terminal. For professional services, the average total cost of a data breach is US $4.65 million (IBM’s Cost of a Data Breach Report 2021).
For law firms and legal services professionals, the fundamental obligation to protect attorney-client privilege is on the line. In 2020, five law firms were hit by ransomware group Maze. Maze encrypted and stole data – including client information – and published it online to leverage ransom payments.
And who can forget 2016’s Panama Papers fiasco? A single attack on Mossack Fonseca, once the world’s fourth-largest provider of offshore financial services, became one of the most-publicised data leaks in history. Crippled beyond repair, Mossack Fonseca closed in 2018.
WiseTime takes cybersecurity seriously, and ISO/IEC 27001 certification proves a commitment to best-practice data protection and privacy in compliance with the International Standard.
What is ISO/IEC 27001?
The International Organisation for Standardisation (ISO) and International Electrotechnical Commission (IEC) jointly publish the ISO/IEC 27001; the International Standard for information security management systems (ISMS), and risk management. It specifies best practice for ISMS establishment, implementation, maintenance, and continual improvement. Certification necessitates passing a stringent, three-stage audit by an accredited external registrar, including frequent follow-up audits and re-assessments.
What does it mean?
WiseTime keeps digital information safe and secure for you, your business, and your clients.
- Data-in-transit is encrypted via Secure Sockets Layer (SSL)/Transport Layer Security (TLS)
- Independently-federated identity management using OAuth and SAML via Google Firebase
- Data is quasi-anonymised and segmented; activity and identifiers (e.g. email addresses and names) are independently stored
Bottom line, it’s a matter of trust. WiseTime’s data protection and privacy is cybersecurity you can count on.
Book your demo of WiseTime today to find out how you can increase your billable hours and decrease manual admin while ensuring your data remains safe and secure.