Data is the fuel that fuels innovation and strategic growth in modern enterprises. However, this connectivity poses serious security risks as companies strive to protect security, privacy, and compliance at a large scale. Secure data sharing allows companies to share data and collaborate while protecting sensitive data from unauthorised access.
In an era where cyber-attacks are commonplace and consumer awareness is on the rise and data sharing is secure within businesses isn’t just a good practice, it’s an absolute necessity. Data breaches can have devastating repercussions on the business, and also undermine consumer confidence. This can lead to reduced revenue and market share. In addition, regulatory penalties and fines could have more severe repercussions for companies.
A cohesive and effective data-sharing environment is the most important factor in enabling business data sharing. This involves establishing clear data governance and creating dynamic access controls. Attribute-based authorization is a type of control, which allows organizations to offer access controls that are more flexible than role-based authorizations. It also lets companies monitor activity and log user information to be used for audit purposes.
End-to-end encryption of data is another important feature, since it ensures that all data is protected from the origin to the destination. This protects against the possibility of data theft and tampering, which is essential to maintain compliance with strict data security laws.
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