Actively Using Encryption Builds a More Secure Business

Encryption has become one of the most dynamic cybersecurity tools available for individuals and organizations. In today’s blog, we will define encryption and how it helps professionals thwart potential cyberattacks.

What is Encryption?

Encryption transforms readable data into an unreadable format using a specific algorithm and an encryption key. This ensures that even if a hacker gains access to the data, they cannot decipher it without the corresponding decryption key. This added layer of security is crucial for small businesses that manage sensitive customer information, financial records, and proprietary data. Encrypting this information ensures it remains confidential and secure from unauthorized access.

Advantages of Encryption

One major advantage of encryption for small businesses is the protection of customer data. Personal information such as names, addresses, credit card numbers, and Social Security numbers are prime targets for cybercriminals. Encrypting this data helps protect customers' privacy and maintains their trust in the process. When customers see that a business prioritizes their privacy, they are more likely to engage with the business and be more pleased with their experiences.

Additionally, encryption is vital for complying with legal and regulatory requirements. Many industries are subject to strict regulations that mandate the protection of sensitive data, such as the Health Insurance Portability and Accountability Act (HIPAA) for healthcare or the Payment Card Industry Data Security Standard (PCI DSS) for businesses handling credit card transactions. Encryption helps small businesses meet these standards by ensuring data is properly protected. Non-compliance can result in severe penalties, including fines and legal action, making encryption both a security measure and a legal safeguard.

Data breaches can devastate small businesses, leading to significant financial losses and irreparable damage to their reputation. Encryption adds a strong barrier that makes it much more challenging for hackers to access and misuse data. In the event of a breach, encrypted data is far less valuable to cybercriminals, as they would need to invest considerable resources and time to decrypt it. This deterrent significantly reduces the likelihood of cybercriminals benefiting from the breach.

Encryption also enhances overall data security by protecting it across various platforms and devices. Employees often access business data from multiple devices, including laptops, smartphones, and tablets, and through various networks, some of which may be insecure. Encryption ensures that data remains secure regardless of where or how it is accessed.

For small businesses with limited IT resources, utilizing all available tools to ward off hackers is critical. Encryption provides a straightforward method to maintain data security and protect against potential vulnerabilities in their systems.

At XFER, we are dedicated to protecting our clients and their IT by encrypting their data both in storage and during transmission. Contact us at 734-927-6666 / 800-GET-XFER to learn more.