Prediction 4: Companies will be asked about data security standards in RFPs
Companies looking to partner with third-party vendors (contractors, vendors, outsourcers, lawyers, consultants, etc.) will ask what security protocols the partner has in place with greater frequency prior to signing on the dotted line. It will not be sufficient to protect the servers and network; companies will be asking third-party vendors to ensure their specific files are controlled and that they are able to delete/revoke access to the files when the relationship ends. As well, the companies will require the third-party to prove control over files through regular audit reports.
As such, data security will become a competitive advantage for outsourcers, virtual data room providers, and suppliers of services in an increasing number of deals.