Why is data encryption important for businesses?

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Data encryption is a fundamental element of any company digitalization strategy or process, as well as its security and privacy policy. It is a requirement much more than an added value, even if you think about it solely from a mere financial point of view: globally, in 2022 each data breach cost companies an average of 4.35 million dollars.

This need to have a robust data encryption system is especially relevant in the case of services that, by their very nature, depend on a large flow of data processing, whether internal (from the company itself) or external (from customers or users).

What is data encryption? Data encryption is a system through which information is encoded in an unintelligible format, only accessible through a decryption key.

Thus, if a malicious actor, such as a hacker, manages to access an internal network or an external server where important data is stored through a cloud service, even if he accesses the files and documents, he will not be able to read them at all. unless you have the decryption key.

The advantages of data encryption for companies

Protecting the company’s reputation and brand image, the integrity of its internal and external data flow and, in turn, its long-term financial health, are the main advantages of adopting a data encryption system.

Cybersecurity is one of the technological sectors with the greatest potential for the future and the reason is that most companies are already digitized, that use cloud services and that focus on collecting and processing large amounts of information through internal networks and services. outsourced.

Just as it is essential to train all employees of a company in good cybersecurity practices, so that they can answer more complex questions than My IPSo is the implementation of complex data encryption systems.

Data encryption is a fundamental element of protecting the private information of a company, its processes, users and customers. It serves to protect sensitive information with greater security that, if leaked, would have a strong impact on the company’s reputation and finances.

In addition, today many countries require companies to adopt encryption systems to reduce the risk of massive data leaks, especially private data and, even more, sensitive data such as bank accounts, passwords, postal addresses, etc. phone numbers etc

The best thing is that these are not expensive or complex systems in terms of their implementation. The reality is that most of the services that offer storage in the cloud, as well as the internal network connection systems, offer the possibility of having different levels of data encryption, so, in most cases, it is Just a matter of requesting it.

Going back to the beginning, it is easy to understand that encrypting data in a company is simply cheaper than not doing it.

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Written by Editor TLN

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