Data is the lifeblood of modern companies that drives innovation and strategic growth. However, this interconnectedness presents significant challenges in terms of security as organizations try data security to maintain the privacy and trust of their customers while maintaining compliance. Secure data sharing permits companies to share data and collaborate while protecting sensitive data from unauthorised access.
In an era where cyber-attacks are commonplace and awareness among consumers is on the rise secure data sharing in business is not only a best practice, it’s a requirement. Data breaches can have devastating effects on the company, and also undermine consumer confidence. This can result in losses in revenue and market share. Additional regulatory penalties and fines could have more serious consequences for businesses.
The key to enabling secure data sharing in business is to implement a coordinated and efficient data environment. This includes creating a clear data governance and using dynamic controls. One such control is attribute-based authorization, which enables organizations to offer more flexible access control than role-based permissions. It permits organizations to track user data and monitor activity.
End-to end encryption of data is a second important feature that ensures that all data is protected from the moment of entry to the destination. This helps to reduce the risk of data theft or tampering and is essential to ensure compliance with strict data protection laws.