Organizations do spend huge amounts of money and a lot of time so as solve cybersecurity issues. In case you are a small or medium-sized enterprise, it will be an expensive exercise that you can undertake. To avoid such expenses, you can undertake data encryption. Although you might see it unnecessary, it can be a good initiative which can save you a lot of money.
One of the things that have affected many companies is data breaches. Many credit card companies have been forced to pay for millions of money stolen. In case you have not yet taken your time in implementing the data encryption mechanism in your company, then this is the best time that you should consider doing do. There are so many ways on how this software can be of great importance to your company, some of them are as highlighted below.
Data encryption will assist in protecting your sensitive information that you may have stored on a corporate network, email server, removable storage media, or laptop. Thus you can securely access all your vital data at any place that you are. Even if your device is stolen or lost your information cannot be accessed.
Offers your competitive advantage
Encryption software can assist in improving security mechanisms, expand your business and attract new clients. Some of the ways on how it enables you to achieve these are:
Assures your customers that they can securely deprovision without leaving any data behind.Minimizes hardware costs by cryptographic multi-tenancy.Satisfies privacy requirements and data residency.Protects the data of your customers from being accessed by unauthorized users.Expands revenue potential to customers who have regulated or sensitive data.
Enables you to secure your remote offices
Since many companies so have remote offices which by nature are not secure as they are supposed to be, they are exposed to physical theft. Also, these companies have sensitive data that is stored on unprotected servers. Take an example of service companies, tax accountants and financial planners that have sensitive data that is held in their offices. By encrypting the data and storing it in the cloud, they can be confident of the security of their data.
Enables you to meet regulations
Currently, the credit card industry has embraced strict guidelines in ensuring the data of a cardholder is protected. Since many of us use credit cards at one point in our lives, we wish to be assured that our sensitive information is safe.
Although not all international standards require its users to encrypt their data, itâs recommended that if you are using cards in your company you encrypt them. This is due to the high cost that you can incur if you breach the notification and also given that DLP technology always reveals sensitive data to where itâs not supposed to be. Donât you think encryption makes sense? Otherwise, we would not be confident when we are doing online transactions.
Finally, remember that as you encrypt your data do not give the encrypting company both keys. Ensure you keep the decrypting key or give it to another company that you trust.