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Management of Confidential Data Exchange

In the cyberspace, a lot of focus is given to the protection of sensitive data from being stolen or exposed. Many organizations are unaware that the data they manage is at risk in the process of transfer. This is especially relevant when data is shared between partners, customers, and business associates.

The protection of confidential data exchanges is crucial to avoid breaches and maintain confidence with stakeholders, customers and business partners. Security breaches that expose confidential information can cause irreparable damage on brand reputation and customer trust. This is especially true for healthcare in which HIPAA demands that hospitals provide secure ways to share patient information electronically.

The other industries aren’t any different. E-commerce platforms and retailers must ensure the security of their customers’ personal information when they http://dataroomhk.com/the-importance-of-a-data-software-in-regulation-and-compliance/ purchase goods online, while education institutions need to keep students’ records private to prevent identity theft. Financial institutions must ensure that sensitive files are protected when they send files to business partners.

While safeguarding specific locations on servers, systems, and even in the cloud is a critical aspect of handling confidential information but this approach is unflexible for companies that frequently collaborate with third-party companies and must 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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