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Why Your Business Needs a Digital Vault

Updated on
août 13, 2022

In this article

Data breaches are becoming more and more prevalent. Hackers are getting better at finding ways to steal sensitive information, like credit card numbers, social security numbers, and even health data. The good news is that there are ways to protect yourself and your business from these threats by using a digital vault. A digital vault […]

Data breaches are becoming more and more prevalent. Hackers are getting better at finding ways to steal sensitive information, like credit card numbers, social security numbers, and even health data. The good news is that there are ways to protect yourself and your business from these threats by using a digital vault.

A digital vault will help you meet the requirements of government regulations for protecting customer data, help with compliance issues within your organisation, and reduce costs associated with keeping records safe from prying eyes or malicious hackers alike!

So how do digital vaults work? What are they suitable for? And why should every business use one? Let's find out!

What are Digital Vaults?

A digital vault is an online filing cabinet for all of your business information and documents. It's a secure space where you can store, share, and manage data.

You can use a digital vault to store files on various topics like login credentials, personnel files, client records, and marketing materials. You can even collaborate with coworkers or onboard new employees if needed!

A digital vault keeps everything organized in one place so you can access it anywhere. You can share files with different people from one central location and set up user rights and roles so that everyone who has access to the vault does not necessarily have access to everyone else's files at the same time.

Each person can only see the files they have access to. This makes sharing easy because everyone knows where they store their important documents!

How do they work?

A digital vault is a secure way to store your sensitive digital assets. It's a broader solution than password managers and much safer than spreadsheets or other shared online tools.

A digital vault keeps your critical data safe by storing it in the cloud. The vault stores only encrypted versions of your files. It automatically syncs them with a device you specify when accessing the files.

It ensures that even if someone steals or hacks into your computer—which is rare but possible—they won't be able to access any information stored on it unless they also have access to your private key (which only you know). In combination with 2FA, your data becomes inaccessible to unwanted guests.

What makes a Digital Vault convenient to use?

From day one, you should keep all of your essential business data and documents in a digital vault. Never use a filing cabinet or the back of your truck. Why? Because it's easy to do, no matter where you are.

A digital vault keeps your documents:

Safe:

A digital vault offers security features like strong encryption et zero-knowledge protocols, making it difficult for outsiders to access your information. It means less worry about stolen laptops or unauthorised access—all without having to hire an expensive security team or spend hours setting up complicated passwords for every document on your computer!

Organised:

By using a cloud-based solution, you can use the same secure login information across multiple devices with ease—so if someone wants to access their files from home on their laptop, then they can do so seamlessly from their phone, too; plus, if multiple people are working in different locations who need access simultaneously from any place around town.

How are these vaults good for Businesses?

Businesses are increasingly challenged by the ever-changing landscape of regulations and compliance. One way to help these businesses win is by using digital vaulting.

Digital Vaults make it much easier to ensure that everything is up-to-date and accurate. Hypervault is a digital vault that will suit your businesses in the most optimum way possible!

These digital vaults offer several advantages over traditional storage methods, including convenience and security. By keeping critical information in one central location, businesses can ensure that all relevant data is readily available for review.

Furthermore, digital vaults provide businesses peace of mind by ensuring that vulnerable data does not fall into the wrong hands. So yes! It is a win-win situation!

Here are a handful of reasons why your business should have a digital vault in place:

Reason # 1: It helps you organise your business and allows you to share information securely with others.

A digital vault helps you organise your business and allows you to share information securely with others. You can create specific templates that can store assets in your digital locker, for example for sensitive client information, signed contracts, or network connection settings.

It means that if someone else needs access to detailed data, they'll need to request it from the person who entered the information in the vault.

Reason # 2: Digital vaults are better than spreadsheets and shared solutions.

Spreadsheets are one of many tools businesses can use to organise and track data. Spreadsheets vary in features and capabilities, but most offer basic functionality for creating spreadsheets, performing basic calculations, and editing data.

While spreadsheets are not the most sophisticated tools out there, they are instrumental in organising your life because they let you to keep all your essential information in one place. That's why many businesses turn to these solutions, but these tools aren't the best ones to store confidential data in. If you store your company's data and sensitive information on a spreadsheet and the spreadsheet was stolen, hackers could use it to steal your data.

Reason # 3: Keeping sensitive information safe is critical.

It's essential to protect your business' data. Data breaches have become increasingly common, and the consequences can be large. You may lose customers or even face lawsuits due to such an incident.

You need to know how much sensitive information is online and what kind of encryption techniques are in place so that you can make sure it stays safe from breaches.

Reason # 4: Your customers are concerned about data security.

It's no secret that your customers are concerned about their data security and how your company can guarantee data protection. The public is aware of data breaches. And your company doesn't want to leak Personal information and credit card information.

The good news is that among the various ways to protect yourself against these risks—the best one is digital vaulting. Digital vaults let you to protect not just your valuable information but also any other sensitive data (like medical records).

Reason # 5: You need to protect your employees' personal information.

One of the most common reasons why businesses suffer a hack is because they lack a digital vault. Your employees are more likely a target by hackers or make careless decisions that expose their personal information. They may share their passwords with others, use weak passwords and not update them regularly—all things that can lead to data breaches.

Protect your company's data from cyberattacks from today. It's essential for you as an owner/manager to take steps toward educating your staff about how best practices should be followed. As well as protecting sensitive information from internal threats (employees) as external ones (the public).

Reason # 6: A digital vault helps in the event of a lawsuit.

The digital vault is a secure, encrypted storage space for your customer data. It's essential to remember that this isn't just about protecting your data from hackers or identity thieves—it also helps you meet the requirements of government regulations for protecting customer data.

For example, under the Health Insurance Portability and Accountability Act (HIPAA), it's a must that providers protect their customers' PHI (Protected Health Information), which includes their medical records.

To comply with HIPAA regulations is a daunting task. Many countries have other laws requiring businesses to keep certain types of personal information secure during storage and transportation between locations within their state or beyond it.

Reason # 7: It helps with compliance and regulations.

It's no secret that governments are constantly increasing their scrutiny of businesses, leaving you with fines or worse.

That's why having an effective digital vault is so essential—it helps you meet the requirements of government regulations for protecting customer data, employee data, business data, and even personal information like credit card numbers.

Reason # 8: Ensure data protection.

Here's why your business should have a digital vault to protect and store your data:

  • To manage data governance.
  • To protect data
  • To comply with regulations, such as GDPR
  • To improve data access and security for employees, consumers, partners, vendors, and other stakeholders that access your information online or on mobile devices.

Reason # 9: One of the biggest problems with passwords is that they're hard to remember.

Like most people, you have several different accounts with each of your companies and services—each has a different password.

That's why we recommend using digital vaults: they'll store all of your passwords in one place so that when you need them, they're easy to find and use without having to think about them too much.

Reason # 10: Every business needs a secure way to manage its digital assets.

The digital vault is a secure storage solution for your company's most important data. It can help you:

  • Create and manage credentials for every employee and contractor
  • Store confidential data such as financial information, customer records, personal health records, and more.

Reason # 11: Millions of people store their information, logins, and passwords in digital vaults or lockers.

Millions of people have passwords they don't remember, can't remember, and need to remember. These people use multiple sites on their phones and computers.

Millions more have small pieces of information that someone may use to access someone else's accounts. It is especially true for businesses that store their customer data in digital vaults or lockers.

Reason # 12: With no need to remember passwords, you may find that you can make more complex logins for your accounts.

With no need to remember passwords, you may find that you're able to make more complex logins for your accounts. It can be a huge advantage for businesses that have many users and need access to a variety of different systems.

Reason # 13: When your password manager is in the cloud, it's accessible from any device.

Cloud storage is an excellent option for businesses. It's advantageous in large companies with multiple employees who simultaneously need access to the same data.

Cloud storage allows you to store your passwords, credit card numbers, bank information, and other confidential data in the cloud to be accessible anywhere you use any device.

Reason # 14: Digital vaulting is not just for passwords anymore.

Digital vaulting is not just for passwords anymore. Businesses can use it for all kinds of information.

Passwords are just one of the ways you can use digital vaults to protect your business. Other options include storing sensitive information like financial records or HR information about an employee.

Digital vaults aren't just good for keeping sensitive information safe. They also make it easy to share that information with people who need access. Suppose an employee needs access to their company's private cloud storage account to download files from their computer at home or work. In that case, digital vaulting makes this simple process possible without worrying about losing their password or having another person delete essential documents from the server where they're stored—because those things won't happen with digital vaulting!

Reason # 15: Vault Keeping became accessible for Small Businesses.

For small businesses, a digital vault is a valuable tool to help protect their data and keep it secure.

  • A digital vault can help you avoid data breaches. Your business must have the proper security measures to prevent unauthorised information access.
  • A digital vault provides an extra layer of protection against hackers trying to get into your system or steal sensitive data from employees using social media accounts or email addresses they use on the job.
  • With a digital vault, all types of sensitive information come into storage, even if someone gets access to one piece of information (like an employee's name). They won't be able to access anything else about them unless they have physical access as well—and then only if those two pieces happen together simultaneously!
  • The best thing of all: a digital vault isn't only for big corporations anymore. Nowadays there are solutions that make it easy for small businesses to start using them too. The threshold became very low, which makes the basic implementation of security very cost-friendly!

So, an excellent digital vault can help individuals and businesses alike keep everything in one secure location.

If you're not using a digital vault, you should be. A good one can help individuals and businesses keep everything in one secure location.

An excellent digital vault will automatically generate complex passwords for all sites that use the same username or email address as another site, so they don't have to be different every time.

It also helps users remember their passwords by storing them in an encrypted database on your computer or mobile device—you never have to type them out again!

Running your own business gives employees peace of mind knowing that they aren't sharing sensitive information with anyone else (including hackers).

Endnote

The bottom line is that you need a digital vault because it helps you to protect your and your customer's data.

If your company suffered a breach or if there's another security incident, having a safe place to keep your sensitive information will be essential in helping you recover quickly and mitigate any damage from the breach.

We hope this post has helped you understand a little more about digital vaults, how they work, and how they can be helpful in your business.

If you're interested in learning more about the benefits that come with having one of these tools at your fingertips, please reach out! We'd love to help you to make sure all your information is safe and secure.

We're excited to hear what you think, so please comment below and share your opinion on which digital vault best suits your company's needs.

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