No surprises there – business valuation delves into some pretty sensitive information. Think about it – generally no public record of a private company financial performance, let alone its value exists. Business owners are not usually ecstatic telling the world how much they are worth.
If a private business is put up for sale, business sellers usually require a non-disclosure agreement or NDA to be signed by buyer prospects before they can see the offering memorandum. Most business sale deals fly under the radar with the details of such deals a closely guarded secret of business owners, the investment bankers, lawyers and tax authorities.
Proclaiming the values of your assets to the world has serious risks. Just think of some interested parties: your competitors would sure like to know the details of your company’s financial performance, value drivers, list of valuable assets, especially trade secrets, and the like. Worse, disclosing the details of your business assets exposes yourself and your loved ones to potential extortion by unscrupulous crooks. Business valuation reports contain all the details about yourself, your business, and its valuable assets. Just the type of information scammers would love to get their hands on in order to hold you at ransom when the opportunity presents itself!
Needless to say, safeguarding your business critical information is key. Business valuation should be conducted under the lock and key with only those with the genuine need to know being allowed access. But dangers of unwanted business valuation information disclosure can creep in when and where you least expect it.
Business valuation environment you control
To be really sure, you are well advised to protect your own data. The most obvious way is to never let a Web service vendor collect such information in the first place. If you do your business valuation on your own computers and networks that you control, your data security measures apply. No need to worry about the shady Web service vendor selling your crown jewels to the highest bidder.
Business valuation software such as ValuAdder gives you full control over your business critical data. You run your business valuation on your own computers, behind the security shield you have implemented. There is no third party with a dubious motivation to sneak in and pilfer your closely guarded secrets.
Data security steps taken by Apple and Microsoft to protect your computers
In addition, your Windows PC or Mac computers are equipped with the state of the art security technology. Microsoft Windows provides the SmartScreen that seamlessly verifies and authenticates the software before you install it on your PC.
ValuAdder is signed by the extended validation (EV) code signing certificate issued by DigiCert. Before any company can obtain such a certificate, it must be independently vetted for good corporate standing, its officers and directors checked out. Microsoft white lists software apps from verified publishers such as ValuAdder as safe and secure to use on your computers.
Apple goes to considerable lengths to protect its Mac customers from unwanted malware and rogue software peddlers. All modern Macs feature the GateKeeper technology that checks for the Apple ID signature on any software app before it is allowed to be installed on your computer.
Apple issues such ID certificates only to the software development companies that have been accepted into its Apple Developer Program. We at ValuAdder had to provide Apple with the official copies of corporate records signed by our Secretary of State. The records have been verified to ensure the company is in good corporate standing and its officers and directors are known.
In addition, Apple now requires that all software apps for Mac be notarized by Apple independently before being allowed to run on any Mac computer. This additional security requirement stamps the software product with a ticket that acts as your assurance that the software app is free from malware.
No such security measures are present if you type your business critical data into somebody’s website pages or Web app. Once the information you enter leaves your browser, it is handed off to the vendor’s server systems. Your data is in the hands of the Web services provider and their IT staff.
Do you know what measures they take to ensure your business data is safe? Are they on the ball 24 / 7 to prevent cyber criminals from breaking in? Do you think they are resourced or equipped to match the likes of Apple or Microsoft?