Data is the lifeblood of modern companies that drives innovation and strategic growth. However, this interconnectedness poses significant security risks as companies strive to maintain privacy, trust and compliance at a large scale. Secure data sharing allows companies to share data and collaborate while protecting sensitive data from unauthorised access.
In a world where cyber threats are commonplace and awareness among consumers is increasing secure data sharing within businesses isn’t only a best practice, it’s a requirement. Data breaches can have devastating implications on the company, and also undermine consumer confidence. This could result in lost revenue and market shares. Additionally, regulatory penalties and fines can have even more serious consequences for companies.
A unified and efficient data sharing environment is crucial to enabling the sharing of business data. This requires the establishment of a clear and transparent data governance system, and implementing dynamic controls. Attribute-based authentication is one such control, which allows organizations to provide access controls that are more flexible than role-based authorizations. It also lets companies observe activity and keep user information to be used for audit purposes.
Another key feature is end-to -end encryption to ensure that data is protected from the point of origin until the destination you want to reach. This helps reduce the risk of theft of data and tampering with it, which is essential to maintain the strict data security regulations.