In the world of cybersecurity, lots of attention is placed on the protection of sensitive data from being lost or exposed. Many organizations don’t realize that the information they manage is vulnerable when it comes to transfer. This is usually the case when data is shared with partners and customers or business associates.

The protection of confidential data exchanges is crucial to avoid breaches and maintain trust with customers, stakeholders and business partners. Security breaches that expose confidential information can have a devastating effect to the brand’s reputation and trust. This is particularly true for healthcare in which HIPAA requires that healthcare facilities be able to transfer patient records electronically.

The same is true for other types of industries. E-commerce platforms and retailers must protect their customers’ personal information when they buy products online, and educational institutions must keep students’ records private to prevent identity theft. Financial institutions must ensure that sensitive documents are protected when they transfer files to business partners.

While protecting specific locations in servers, systems or the cloud is an important aspect of managing confidential information, this approach is not always http://dataroomhk.com/benefits-of-virtual-data-rooms-in-life-sciences/ flexible for businesses that frequently work with third parties 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.