How Encryption as a Service Can Protect Your Digital Assets
Applying Encryption to Digital Assets Appropriately and Strategically
With all the ongoing buzz about security breaches and protecting sensitive data, encryption is frequently misunderstood. The common perception that encryption is essentially sensitive data converted into a bunch of inaccessible, cryptic nonsense is relatively accurate, but there’s a greater benefit it delivers besides scrambling information.
A healthy encryption solution can serve as a reliable last-defense security tool, while meeting a multitude of security-related data needs for your business. The key to reaping optimal benefits is not simply using encryption, but using it appropriately and strategically based on your unique needs and risks.
Here’s the thing—encryption works as a last line of defense when it comes to protecting sensitive data. It does not stop cyberattacks from happening or identify specific holes in the network; its purpose is served if a malicious actor is already accessing your data. We’ve said it before: attacks are no longer a potential threat; they’re an unfortunate, but certain part of storing, receiving, and transmitting data. The best thing your business can do to protect itself is invest in a strong security program that addresses all areas of risk.
Using encryption will make your data-at-rest indecipherable, which is particularly advantageous if your business deals with sensitive data (and most do), if that data becomes compromised. It’s well-known that keeping up with malicious actors will never cease to be a moving target. So, at a minimum, adopting encryption as a critical component of your security strategy is crucial to staying up-to-date on changing risks.
It’s worth noting: organizations with sensitive data may want to evaluate the option of encrypting all data. Here’s why: if your security team encrypts everything, there is nothing to be missed. If you encrypt all data, you are no longer subject to data classification, but the moment you begin making judgment calls as to what to encrypt, the risk of missing something increases. While not a practical option for all businesses, this is certainly a strategy worth considering for some.
Four Primary Areas That Will Benefit From Solid Data Protection Implementation
There are a lot of risk situations that can be effectively mitigated by proper implementation of encryption. Here are four main areas in which your business will benefit by implementing Encryption as a Service:
- Compliance regulation—HIPAA, PCI-DSS, and other industry and government mandates require organizations to maintain a certain amount of security controls in order to be considered compliant. It’s important to understand that compliance is the minimum requirement a company must meet. Employing encryption will complement your compliance efforts.
- Your company’s and customers’ proprietary data and intellectual property—The two most important digital assets to protect are your data, and your customers’ data. Without it, you wouldn’t be in business.
- Breach laws—If your data is encrypted, your business may not have to disclose a breach, since the data a malicious actor has stolen is effectively useless. This prevents financial and reputational damages to business that you otherwise may not be able to recover from. However, in some states, data breach laws are changing, so be sure to verify state laws to confirm what sort of regulations apply to your business.
- Data residency requirements –If your data needs to remain within a specific territory or country, encrypting it ensures that the data is protected if it is moved to a location outside the specific territory or country.
Executing on Your Key Security Needs
Implementing a reliable encryption as a service solution that fits the needs of your business will give you peace of mind in the security of your data without losing control or visibility. If your security group isn’t quite sure where to start, we highly recommend speaking with a trustworthy security expert to help identify risks and determine if encryption is right for you.
Peak 10 encryption experts are available to discuss your organization’s encryption needs, whether your organization is unsure of whether you have correctly implemented encryption or you have a new security initiative on the horizon. We invite you to reach out to us with questions at www.peak10.com/contact-us or (866) 473-2510.
The Peak 10 Encryption Video Series
The results of Peak 10’s Encryption Study yielded commentary from IT security decision makers related to compliance, how encryption is being used, why encryption is important and how technology budget concerns impact security decision making.
We have created a five-part Encryption Video Series so that your security team and IT decision makers can understand the concerns of their peers and how to address them. You’re invited to continue watching the Encryption Video Series to learn more about how encryption can protect and bring value to your business.