Why Does Your Company Need Panoptic Today?

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The answer is obvious: Your company bears the significant brunt - from both an economic and brand perspective - when one of your merchants has a data breach.

Here's some interesting research you may or may not have seen about the impact on companies who experience data breaches:

  • 77% of 2,750 consumers polled said they would stop shopping at stores that suffer data breaches and 74% of merchants surveyed reported a loss of customers as a result of data breach
  • 85% of consumers will reward merchants who are perceived as security leaders with increased purchases
  • Visa International found in a 2007 survey that 50% of consumers surveyed about cybercrime say they refuse to use their credit cards online and that really slows the growth of ecommerce
  • TNS PLC, a market research company, found that 75% of online shoppers surveyed say they have abandoned a retail site at one time or other due to security concerns
  • When those customers who admitted to site abandonment were questioned further, 90% said they would have gone ahead with the sale if they had seen a recognized security market (certificate)

Additionally, 3 data breach notification bills are currently in front of Congress, and 29 state have already produced legislation relative to protecting consumers against data breaches.

Why Is This Happening To You Now?

Well, it has been happening, and will continue to happen because you and your merchants today are gulping for air from the rising tide of information security requirements and compliance demands.

However, your company has the resources to manage this rising tide either through in-house expertise or outside consultants. The problem isn't with your security policy: the problem is pushing your security policy throughout your extended enterprise - down to your merchants, who do not have in-house expertise, nor the budget to hire outside experts.

What Can We Do To Help You (and your Merchants)?

Panoptic can provide your merchants the expertise to implement your security policy and prevent data breaches or mitigate the effects of them. Our expert system will guide you through the most efficient and cost-effective route to bringing your business environment quickly into compliance.

If you wish to discuss how your company and customers can benefit from our products and services, please contact one of our compliance specialists at 801-362-8455