The way in which modern businesses function has changed to a great extent compared to earlier days. Companies now resort to file collaboration and file sharing for performing tasks efficiently. The primary advantage of this is the ease of sharing new ideas among team members in real-time, but there are also drawbacks associated with it. As data is shared online, there is a threat to data security. Therefore, it is essential to secure sensitive data when sharing and collaborating.

With each passing day, collaborating on files and sharing with staff is a vital part of the business. Team members need to share various files, such as financial documents, client records, and other sensitive information; therefore, enterprises must prioritize the security of this data and prevent unauthorized access to it.

Companies must also be aware of the security risks associated with the process, such as data breaches and data tampering. To effectively mitigate risks, companies must implement robust security measures to safeguard confidential and sensitive information when sharing and collaborating.

This blog will help you gain insight into the importance of securing confidential documents while collaborating and sharing the files. Moreover, after reading this blog, you will understand the best practices for maintaining the confidentiality, integrity, and availability (CIA) of an enterprise’s confidential data.

Important of Security Sensitive data:

Different industry verticals have their own sets of sensitive data, such as financial documents of various companies; the healthcare segment contains personal identifiable information (PII) and confidential business data of a wide range of companies. Moreover, cyber attackers keep a close eye on all such data, as it is susceptible to security threats. If such information falls into the wrong hands, the company incurs huge financial losses and penalties, which in turn harm its reputation.

While collaborating and sharing documents, confidential data is susceptible to security threats and risks, like:

  • Data Breach: Unauthorized users often gain access to confidential documents, leading to data theft and breaches.
  • Losing data: At times, data is accidentally or intentionally deleted by staff, resulting in data loss. Moreover, data is also modified many times, and essential parts of documents are unable to be retrieved.
  • Unauthorized access of data: Whenever the data is accessible to unauthorized users or entities.
  • Data tampering and data manipulation: This includes unauthorized modifying  data by different people.

Best Practices to Follow for Sharing and Collaborating Data:

For prioritizing security of confidential data while collaborating and sharing, you must consider the following best practices:

  • Encryption method: 

All the sensitive data in a company must be encrypted using a key. It is easy to practice using SSL, TLS or AES. When enterprises use a key to secure data during rest and transit properly, only the authorized person can decrypt the information using the key.

  • Access control feature:

Organization staff must execute role-based access control, MFA (multi-factor authentication) to keep in mind only authorized users are able to access the confidential data.

  • Secure collaboration platform: 

It is a good practice to leverage highly secure collaboration platforms, such as virtual data rooms, end-to-end encrypted document-sharing software, and safe messaging tools for efficient communication among team members.

  • Auditing and reviewing logs: 

It is also crucial to regularly audit and document activities carried out within an organization. It will provide insights into suspicious incidents that can be addressed promptly with proper measures.

  • Provide training to employees:

You must also provide proper training sessions to employees on secure collaboration and sharing best practices. It will guide them in warding off any data breach, data corruption, data duplication or data loss in the process.

Cutting-edge tools for secure collaboration and sharing of data:

  • You must integrate encrypted file-sharing tool in your system:

There are multifarious file encryption tools available to choose from, such as Dropbox, OneDrive, ShareFile, etc. These future-ready tools are diligently designed to provide encryption features to easily secure sensitive data.

  • Secured Messaging tools:

It is also recommended to use apps that offer end-to-end encryption of messages, such as Microsoft Teams platform, Signal, or WhatsApp.

  • Using Cloud security gateways in the system:

There are high-end cloud security gateways that are thoughtfully curated to provide secured and controlled access to numerous cloud-related collaboration platforms, Different types of cloud security gateways are Netskope, or Skyhigh Networks, to name a few. 

  • Virtual data rooms is also a good practice: 

Meticulously designed virtual data rooms also provide a secure platform for ease of collaboration and sharing, for instance, tools like Intralinks or Merrill DatasiteOne.

Conclusion: 

Now, you have learnt the importance of securing all sensitive data when sharing and collaborating with various team members to simplify tasks. It is essential to follow recommended best practices, utilize an advanced secure collaboration platform, and raise awareness among employees through training sessions. By following these steps, you will be moving towards securing confidential and sensitive information within an enterprise. 

Moreover, it is essential to recognize that security is an ongoing process, and an enterprise must be able to research and incorporate innovative security technologies into the organization. In this way, a company can effortlessly focus on data security, gain the client’s trust and boost the company’s reputation in the market.