You could say that secure file sharing is foundational to a modern enterprise's ability to thrive in a competitive and interconnected digital landscape. At least, that’s what I am convinced of.
Any company that wants to expand in this digital landscape, which revolves around uninterrupted communications, needs to take proper security measures into consideration. An idea is one thing, and a great crew and leadership is another. But if the company is not built on a secure foundation, the success that the company greatly expected will not happen.
It’s actually very easy for a company to break down completely if this is not taken into consideration from the start. And it goes quickly too. Just one single data breach, or documents ending up in unauthorized hands, may result in an escalating downhill breakdown of the entire company.
“Ensuring the integrity of backup data is critical when faced with a cyberattack. Backup needs to evolve to support comprehensive scanning of files and databases to ensure it is clean from corruption and reliable when a restoration is required. Adding this layer of resiliency, organizations can detect corruption sooner and, in the event of an attack, these verified backups serve as your first point of recovery,” said Jim McGann, VP of Strategic Partnerships at Index Engines.
I agree.
There are several encryption software solutions for this out there. AxCrypt is a universally used encryption service with over two decades of experience. By continually adding new layers of protection to stay one step ahead of cybercriminals, they have won several awards and have remained one of the most popular encryption solutions in the world.
In this blog, I will talk about why secure file sharing is so important:
Data Breaches: This is usually the main reason why companies think they should apply encryption as part of their security strategy. Data breaches seem destructive to newly started companies, and they are, but it’s just one of many areas where encryption helps a business to secure and expand. Actually, there are many areas, and I will list them below.
Malware Infections: Talk about ruining one’s reputation. The fact is, shared files without proper security measures are not only damaging to your company but also to anyone who is a recipient of the file. Encryption erases all possibilities of infected malware and ensures that both your company and your fellow companies stay clean.
Loss of Confidentiality: Unauthorized access to files can result in the exposure of confidential business information, personal data, and intellectual property. This is another area that would be devastating for the company. Loss of confidentiality will also result in a decreased reputation and neglected connections.
Financial Loss: There is a lot of information that is valuable to cybercriminals. It’s not just the direct attack that is the devastating aspect. The initial data breach is usually only the beginning. With the information they gather from the company, they can expand their attack, increasing the financial loss. They may use the information to commit fraud. Additionally, the company may experience even more financial loss due to the cost of remediation efforts.
Reputation Damage: Reputation is key to a successful company. No customers initiate contact with a known unsafe company. Encryption is not only for the customers but also for potential partners and stakeholders, who are just as important to keep the company running. Encryption will encourage customers and partners to get involved with your company.
Loss of Competitive Advantage: Exposure of strategic business information can undermine an organization’s competitive advantage.
Ensuring secure file-sharing practices is crucial to mitigate these risks and protect sensitive information from unauthorized access and exploitation.
AxCrypt is a critically acclaimed encryption software designed to protect sensitive files and data. Its core functionalities include:
These functionalities make AxCrypt a comprehensive solution for file encryption and secure file management, suitable for both individual users and companies.
1. Download AxCrypt: Use this link to download AxCrypt. Choose between the Mac or Microsoft download options.
2. Setup an Account: After downloading the software, you need to set up an account. For this tutorial, I set up a new account to ensure everything works as expected. The information required for the initial setup is your email.
3. Verify AxCrypt ID: After providing your email, you will receive an AxCrypt ID Verification email. Follow the instructions to verify your AxCrypt ID.
4. Choose a Password: After verification, you will be directed to the AxCrypt user website to decide on your preferred password. At this step, you can use AxCrypt’s password manager to generate a unique, secure password.
5. Log In to the Application: Once your account is set up, you can log in to the application. However, you need to select a plan to fully use the product. You can choose between Premium, Business, and Password Manager. As an individual, choose Premium, and as a business, choose Business.
5. Log In to the Application: Once your account is set up, you can log in to the application. However, you need to select a plan to fully use the product. You can choose between Premium, Business, and Password Manager. As an individual, choose Premium, and as a business, choose Business.
6. Select a Payment Plan: To use the application, you need to select a payment plan. AxCrypt offers a one-month free trial. I chose the one-month trial and could easily cancel the plan without having to pay for the month.
7. Enter the Application: After selecting your payment plan, you can enter the application by entering your email ID and password.
8. Secure Your Files: Once logged in, click on the “Secure” option, second to the left, to start securing your files.
Select which file you want to encrypt.
Now, in order to share the secured file you can right click on your file and select Share Keys.
You can also Key Share an unsecured file directly without encrypting it first. Just use the same right-click and select the file. AxCrypt will prompt you that it will encrypt the file first and then share it with the intended recipient(s).
You can Key Share multiple files by bulk selecting them.
Add the user you want as your trusted recipient by entering their email.
After you have clicked on “Add,” you can see all the recipients listed below.
Then click “OK”.
Now your file is secure to share with your trusted recipient. IMPORTANT! You still have to send the actual file to them. You can do this via email, Google Drive, WhatsApp, etc.
The great thing about Key Sharing is that you don’t have to share your password with the recipient for them to access it. All they need is AxCrypt themselves.
9. Decrypt: Once they log in to their own account, they will be able to access the file using their own password.
Lastly, for the recipient to decrypt the file, they can either double-click on it or use the “Open Secure” option.
Imagine a leading software development company in the process of merging with a prominent tech hardware manufacturer. This merger is expected to create a tech giant capable of offering comprehensive hardware and software solutions. Given the complexity and sensitivity of the merger, secure file sharing is crucial.
Consider all the parties involved: CEOs, CFOs, and COOs from both companies. It doesn’t stop there—attorneys handling contractual agreements, HR departments responsible for managing employee data, finance departments handling asset evaluations and financial audits, and IT departments ensuring cybersecurity and data migration.
With all this data being shared among the departments, there is a significant risk of data breaches. These breaches can lead to financial loss, reputational damage, and legal repercussions.
Another challenge is ensuring compliance with data protection laws such as GDPR, CCPA, and HIPAA. They also have a responsibility to maintain data integrity and completeness during the transfer process.
This is why encryption and data security are so important for a leading business. By implementing AxCrypt’s AES-256 encryption system, the two merging companies will have these challenges under control.