In the world of cybersecurity, there’s an emphasis paid to protecting sensitive data against loss or exposure. Many organizations are unaware that the data they control is vulnerable during the transfer process. This is often the situation when information is shared with partners and customers, or with business associates.

The security of confidential data exchanges is vital to ensure that breaches are not made and keep trust with stakeholders, customers and business partners. Security breaches that reveal sensitive data can have devastating effects on brand reputation and customer trust. This is especially applicable to healthcare in which HIPAA requires that facilities be able to share https://dataroomhk.com/why-do-ma-deals-fail patient records electronically.

The same is true for other industries. Retailers and ecommerce sites must secure the personal data of their customers when they buy products on the internet. Schools are required to keep student records confidential to prevent identity theft. And, the financial sector must ensure that sensitive documents are safe when they exchange files to business partners.

While securing specific locations within servers, systems, or the cloud is an important aspect of handling confidential information, this method may be inflexible for companies who regularly collaborate with third parties and 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.