European banks failing on document security

The findings show that the financial industry is the least likely to have a policy in place to restrict the printing of customer information with just 46 percent confirming that they have implemented a formal policy. Just 33 percent of public sector organisations have a fully implemented document security strategy. The number rises to 43 percent in Professional Services and 48 percent in Telecommunications/Utilities/Media.
Ricoh (NASDAQ: RICOY) attributes the lack of security measures to decentralised document governance, where no single function is accountable for this area. In many cases, it is being managed by several people across the business or responsibility is devolved either to department heads or individuals.
 
Says 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’ document assets are managed as an integral part of an organisation’s overall information management and security strategy.  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 cost and process efficiencies across the whole business.”