Management of Confidential Data Exchange

In the worlds of cybersecurity, there is much focus given to protecting sensitive data against loss or exposure. However many organizations fail acknowledge that the data they handle is also vulnerable in the process of transfer. This is often the case when information is shared with customers and partners or business associates.

Controlling the exchange of confidential information is essential to prevent breaches and maintaining trust with customers, stakeholders as well as business partners. Security breaches that reveal confidential data can have devastating effects on the reputation of a brand and trust. This is use of digital data rooms for trials especially true for the healthcare industry in which HIPAA mandates that facilities are able to share patient records electronically.

This is also true for other types of industries. Retailers and online stores must protect the personal data of their customers when they buy products online. Educational institutions are required to safeguard student records to prevent identity theft. In addition, the financial industry must ensure that sensitive documents are protected when they transfer files with business partners.

While protecting specific locations on servers, systems, and even in the cloud is a crucial aspect of handling confidential data however, this method can be inflexible for businesses who regularly collaborate with third-party companies and need to share 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.

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This post was written by vladeta