Management of Confidential Data Exchange
Management of Confidential Data Exchange

In the worlds of cybersecurity, there is an emphasis paid to safeguarding sensitive data from exposure or loss. However many organizations fail to acknowledge that the information they handle is also vulnerable during the process of transfer. This is particularly relevant when data is shared between partners, customers, and business associates.

Management of confidential data exchange is essential to prevent breaches and maintaining trust with stakeholders, customers, and business partners. Security breaches that expose confidential information cause irreparable damage brand reputation and customer confidence. This is especially relevant in the field of healthcare which is where HIPAA demands that hospitals be able to transfer patient records electronically.

Other industries are not any different. Retailers and ecommerce platforms must secure their customers' private information when they purchase goods on the internet, while educational institutions must keep student records private to avoid identity theft. Financial institutions must ensure that sensitive files are protected when they send files to business partners.

While safeguarding specific locations on servers, systems, or the cloud is an important aspect of handling confidential information, this approach may be inflexible for companies that work regularly with third-party companies and have 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.

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