In the world of cybersecurity, there is a lot of attention paid to protecting sensitive data against loss or exposure. Many companies do not realize that the data they handle is vulnerable during the transfer process. This is especially true when information is shared between customers, partners, and business associates.

The protection of sensitive data exchanges is essential to prevent breaches and keep trust with stakeholders, customers and business partners. Security breaches that reveal sensitive information can have a devastating effect on the reputation of a brand and trust. This is particularly relevant in the field of healthcare where HIPAA requires facilities to have a secure method to transmit patient records electronically.

This is also true for other industries. Retailers and ecommerce platforms must protect their customers’ personal information when they purchase goods online, and educational institutions must ensure that the student’s records confidential to prevent identity theft. And, the financial sector needs to ensure that sensitive documents are safe when they exchange documents to business associates.

While securing specific locations on systems, servers, and in the cloud is a crucial aspect of handling confidential data, this approach can be inflexible for businesses that regularly work with third parties and require sharing of confidential https://dataroomhk.com/benefits-of-virtual-data-rooms-in-life-sciences 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.