In the world of cybersecurity, there’s much attention given to protecting sensitive data against exposure or loss. Many companies do not realize that the data they handle is at risk in the process of transfer. This is particularly true when information is shared between customers, partners and business associates.
Controlling the exchange of confidential information is crucial to preventing data breaches and maintaining trust with stakeholders, customers and business partners. Security breaches that expose sensitive information can cause irreparable damage to brand reputation and customer confidence. This is especially true for the healthcare industry where HIPAA stipulates that healthcare facilities must have a secure method to share patient data electronically.
This is also true for other types of industries. Retailers and ecommerce sites must secure the personal data of their customers when they buy products online. Educational institutions are required to keep student records confidential to prevent identity theft. And, the financial sector should ensure that sensitive documents are safe when they exchange files with business associates.
While securing specific locations within servers, systems, or the cloud is a key aspect of managing confidential information, this approach may be inflexible for companies who frequently collaborate with third parties and must share confidential documents. Alternatively, businesses can https://dataroomhk.com rely on encrypted software solutions like those from Anjuna, CanaryBit, CYSEC, Decentriq and others that use encryption and zero-knowledge proofs to allow for confidentiality-preserving sharing.