Data security is arguably one of the most important parts of running a business, especially when personally identifiable or confidential information is being shared across your network. Yet, some businesses continue to ignore security in favour of a “more convenient” approach which doesn’t hinder operations. When implemented properly, your security not only augments operations, but secures your company's data infrastructure.
One of the key ways that businesses secure information is through encryption. Encryption is when data is obfuscated so that hackers who steal information cannot read it. Encryption is best used combined with other security measures like a firewall and antivirus software--solutions designed to prevent data from being stolen in the first place.
Here are three data encryption benefits for your business’s data.
Encryption Improves Security
As we just mentioned, encryption is absolutely necessary, regardless of what kind of data your business dabbles in. You can’t take any risks, and encryption is just another preventative measure to take against the never-ending horde of cyber attacks. You can consider encryption a failsafe mechanism for your business’s data. In other words, even if hackers manage to get around your security measures, the encryption protocol will scramble your data so that it can’t be read. At this point, it becomes a matter of whether or not the hacker deems your data worthy of the time it would take to decrypt it. It’s safe to say that most hackers would rather go for data that garners a higher ROI.
Encryption Augments Compliance
You might be surprised to hear this, but encryption is actually not required for compliance with the various compliance laws like HIPAA. For the most part, compliance laws only call for the implementation of preventative solutions like firewalls and antivirus. However, it’s still important to consider encryption, as it’s certainly better than letting unencrypted files get stolen and sold on the black market.
Encryption Isn’t Necessary--It’s Expected
When you work with services that require sensitive information, do you expect that your information will remain secure? After all, it makes sense for a service like PayPal or Amazon to keep your payment credentials encrypted and secure from hacking attacks. Now, apply this to your own clients. They likely expect the same for credentials and data that you store. It would be a shame for you to report to your clients that their data has been stolen because your infrastructure lacked encryption. This is a situation that could cripple your reputation and lose you valuable clients.