Russell Grant | DealerVault | Vice President | Vice President, DealerVault Russell Grant Russell Grant | DealerVault | Vice President |

Mitigating Data Risk: 5 Simple Steps

Russell Grant | DealerVault | Vice President | Ask Yourself… If you knew your DMS was going to be attacked tomorrow, would you change the way you did business today? If you would want to change your plan, would you know where to start or where to turn for guidance?

Russell Grant | DealerVault | Vice President | What We Know… Each cyber attack has had immense repercussions and led to world-wide attention being focused upon the issue of data security. Recent national news events emphasize the need for all to take the necessary steps to protect the data they’re responsible for now.

Russell Grant | DealerVault | Vice President | What Would Happen if Your DMS was Hacked? Your dealership DMS contains inventory, sales and service data but may also contain your customers’ birth dates, Social Security numbers, corporate financial statements, employee payroll data, VIN numbers and inventory cost. Do all vendors have access to all of this information? What happens to the reputation and future sales of your dealership if your customers’ private info is compromised from your DMS?

Russell Grant | DealerVault | Vice President | Five Simple Steps… 1. Have an Understanding of Applicable Law Similar to the DOJ and FTC, the reality of private rights of action (lawsuits) demand attention and consideration. Ensure a staff member is up-to-date on all applicable laws.

Russell Grant | DealerVault | Vice President | Five Simple Steps… 2. Have Control Over Who Has Access to Your Data Currently, an innumerable amount of unmonitored vendors have access to dealerships DMS data. Generate a list of all usernames and passwords that grant access to your DMS and verify that all are tied to valid data recipients.

Russell Grant | DealerVault | Vice President | Five Simple Steps… 3. Have Control Over How Your Data is Moved Best practice and NADA recommendations agree that all dealerships should push DMS data to their vendors. Reconsider how you send data to your vendors.

Russell Grant | DealerVault | Vice President | Five Simple Steps… 4. Have Binding Agreements in Place It is best practice for a dealership to have pertinent agreements in place prior to any and all data movement. Confirm that you have a valid contract with each data-receiving vendor and be sure to review all contracts annually.

Russell Grant | DealerVault | Vice President | Five Simple Steps… 5. Have a Fail-Safe No plan can sufficiently address all potential risks and the protection DMS providers, OEMs, and vendors have may lack dealer focus. Discuss your plan with a professional and independent third-party consultant.

Russell Grant | DealerVault | Vice President | Contact Info Full Name: Company: Job Title : Russell Grant DealerVault Vice President