The digital revolution has come about astonishingly quickly, as many businesses across a range of different sectors are now operating exclusively online. This means that many business owners are now in possession of a range of digital assets that they might not have even thought about. Keeping your digital assets safe and protected can help you safeguard your organization’s long-term potential.
What are Digital Assets?
Digital assets are similar to other business assets, as they offer value and are owned by your business. However, what differentiates digital assets from other assets is that digital assets exist online. Examples of digital assets include:
- Customer data
- Business photos
- A mobile application
- Intellectual property
- Business process
- Company website
- Digital content
- Social media accounts
Your digital assets can be hugely valuable for a number of different reasons. Your digital assets can be claimed as a business expense in your tax return. The digital assets that are owned by your business can also be traded and sold. Your digital assets can also be very valuable to a potential investor or an individual interested in buying your business. Some digital assets, such as customer data, can help to inform upcoming campaigns and development processes.
How to Protect Digital Assets
A businesses’ digital assets can offer a wide range of benefits and should be valued just as highly as traditional assets. However, understanding the importance of digital assets is only half of the battle. Once you have realized how valuable digital assets are, you then need to learn how to protect them.
Create an Inventory
The first step to protecting your digital assets is to create a comprehensive inventory of all your digital assets. You should try to think outside the box during this process. Anything that exists online and that offers your business value can be considered a digital asset.
Use Support and Security Services
If you are not already using IT support and security services, now is the time to enlist the help of an expert team. Ensure that all of your security measures are up to date and able to support your digital assets. This will help to protect against the threat of a breakdown or cybersecurity attack.
Limit Access to Digital Assets
It is not necessary for everyone working in your company to have access to your digital assets. You should limit access to only the most relevant parties. This will help you to keep your assets secure and mitigate potential risks.
Educate Your Employees
You will need to train your staff on the best practices to ensure that your employees understand how to keep your digital assets safe. This can help to prevent the risk of human error and accidental damages.
Invest in Cyber Insurance
You might also want to consider investing in some form of cyber insurance to protect your digital assets further. Although security measures should protect you against the consequences of a cyberattack, it is worth considering cyber insurance, especially if your digital assets represent a substantial amount of your company capital.