Data is a vital part of every firm’s workflow. As a rule, companies must keep detailed records on staff, clients, suppliers, and partners that are packed with personally identifiable information (PII). For example, names, dates of birth, email and postal addresses, telephone numbers and financial details like account and credit card numbers may all be retained on file.
They will also store information on company processes and activities which employees can access to perform their roles effectively or impart to customers and clients upon request. Along with keeping data on servers, devices and in cloud-based storage, enterprises may need to move, share, and send this data to other locations, entities, and individuals. At times this may involve internal data flow, however it will sometimes require information to be transferred or emailed beyond the secure perimeter of a firm’s network.
As the data handler, companies have a responsibility to ensure that all data, whether it is in transit or at rest, remains trackable, accessible, and secure. To answer this challenge, data encryption was created, and, in this blog, we’ll explain its importance for firms.
Encryption protects information
Encryption is a solution that encodes data files and emails ensuring that only authorised parties can access or read the information included in them. Encryption software utilises complex algorithms to effectively scramble any data being transmitted. Once received, the information can be decrypted by using a dedicated key provided by the data or message sender. The effectiveness of any encryption technology is always determined by how strong the algorithm used is, the length of the encryption key, and how appropriate the encryption system selected is.
As encryption renders data unreadable to an unauthorised individual, the information stays private and confidential, whether it is being transmitted or retained on a system. Unauthorised entities will view nothing but an unorganised series of bytes. Additionally, encryption technology can offer assurance of integrity for data files, as many algorithms provide protection from tampering and forgery.
Encryption does not impact processes and productivity
Unlike many ways of securing data, encryption software adds protection to the data itself rather than a secure location. As a result, data does not have to be kept in one place to stay safe and does not lose its protection when it is moved.
Once encrypted, information can be moved internally to a fresh file location without becoming unsecure. However, it can also be emailed or transferred to a specific recipient outside of the company’s secure system while remaining protected.
Being able to send, share and move digital information securely and easily allows companies to work flexibly and ensures that protective policies never hamper business processes.
Encryption keeps companies compliant
Data protection regulations insist that personal data held and used by enterprises must be protected and remain trackable and available to access upon request. Encryption software is designed to help businesses keep compliant with legislation and fulfil their responsibilities outlined by regulators like the UK’s Information Commissioner’s Office (ICO).
By encrypting data, companies can ensure that information remains private and retains its integrity. As a dedicated decryption key is required to access or alter information, a clear record of reporting is always available for regulatory inspections or investigations, ensuring that data can be kept track of and firms stay on the right side of the law.
Encryption helps firms avoid data breaches
If private data is exposed either inadvertently or on purpose, such an incident is classed as a data breach. If a firm is found to have taken inadequate measure to protect the information involved, it can face fines worth millions of pounds. It will also need to pay for expensive forensic investigations and remediation measures. Furthermore, companies will sometimes need to pay reparations to any data subjects whose information was disclosed and foot the cost of data credit monitoring services when financial details are involved.
The costs of data breaches are extensive. Along with the expenses mentioned above, the disruption of a data leak impacts business productivity and often involves substantial downtime. Negative press also follows a breach leading to loss of reputation for firms reducing custom and impacting stock values. In some cases, data breaches can be devastating and result in companies having to fold entirely.
Fortunately, by using cutting-edge encryption software for the information they hold on file, share and send, firms can avoid unnecessary data breaches. Whether data files are stolen by a malicious threat operator, posted online by accident, or transmitted by email to an incorrect recipient, the information contained remains undisclosed and secure.
Using data encryption also ensure that in the event of such incidents, companies can prove to data regulators like the ICO that they took sufficient measures to protect the information in their care, and did so in accordance with UK law,.
End-to-end encryption for emails and data files
If you require a comprehensive encryption solution that allows you to secure the emails you send and store and the digital assets you share and save, Galaxkey can help. Our powerful encryption has been approved by the National Cyber Security Centre (NCSC) and is based on the onion model recommended for use by the US government.
As a result, you can wrap your communications and documents in three robust layers of protection making certain that only those issued the appropriate decryption key can interact with them. Our system is exceptionally user-friendly so that your staff can quickly learn how to apply encryption with a single mouse click to ensure correct usage. Providing complete cover, our solution will encrypt files of unlimited size and when used with communications will protect both the body copy of emails and any attached documents.
Our encryption solution has also been engineered to answer all data regulatory demands like the General Data Protection Regulation (GDPR) and keep companies compliant.
If you understand how important encryption is for you company and the data it uses, shares and stores, get in touch today to book your free two-week trial from Galaxkey.