Financial Cost of a Data BreachData breaches are an increasing issue for companies. Even small organizations are not safe from attacks, and cyber security has become a major investment. The Federal government is in the midst of passing laws to protect and better facilitate direct action on behalf of affected organizations.

But, what is the actual cost of a data breach?

As of 2014, it is estimated that data breaches cost companies an average of $3.8 million. Some companies are even forced to shell out $30 million or more in updated security measures, damage control and other areas. Companies such as the Target Corporation were forced to pay more than $100 million after hackers stole consumer information. (Read more at Docupace’s CyberSecurity Newscast->)

Docupace is the Single-Vendor, Straight-Through Processing Platform for All Your Back Office Needs. Docupace Technologies provides Broker-Dealers and financial advisors with easy to use business software to satisfy all your back office books and records including Rule 17a-3 and Rule 17a-4 processing needs, delivered in one SEC and FINRA compliant platform. The ePACS© Productivity Suite is popular among financial services professionals because of its simplicity. All ePACS© software integrates quickly and without hassle into any pre-existing system, and the results are almost immediate. Getting started is simple and straightforward, and account specialists are assigned at no extra charge to help you along the way. ePACS© is Straight-Through processing in a box, built for financial service firms. True Straight-Through processing means that all steps along the way are workflow-enabled, decreasing the likelihood of errors and delays.

Back to the Blog