Management of Confidential Data Exchange

In the cyberspace, a lot of focus is given to protecting sensitive data from being stolen or exposed. However many organizations fail recognize that the data they manage is also susceptible in the process of transfer. This is usually https://dataroomhk.com/the-importance-of-a-data-software-in-regulation-and-compliance the case when data is shared with customers and partners as well as business associates.

The management of confidential data exchange is essential to prevent breaches and maintaining confidence with stakeholders, customers, and business partners. Security breaches that reveal confidential information can inflict irreparable damage to the brand’s reputation and trust. This is particularly true in the case of healthcare in which HIPAA demands that hospitals be able to transfer patient records electronically.

Other industries are no different. Retailers and ecommerce sites must protect the personal data of their customers when they purchase products online. Education institutions are required to secure student records to avoid identity theft. The financial sector must ensure that sensitive documents are secured when sharing files to business associates.

While securing specific locations on servers, systems, and even in the cloud is an important aspect of handling confidential information This approach can be unflexible for companies that frequently work with third parties and require sharing of confidential documents. Alternatively, businesses can 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.