5 Benefits of Investing in Cloud File Encryption!

Trying to stay current with privacy laws and regulations can be challenging. Still, with the right measures, companies can remain compliant and protect their data from hackers and cyberattacks. Cloud file encryption is a solution worth exploring as it offers key benefits for supply chain companies looking to protect their sensitive information.

Regardless of the size of your business or its industry, there is much to be gained by investing in cloud file encryption. Here are five reasons why supply chain companies should start using cloud file encryption.

1) Improved data security

With encryption, you get a higher level of security for your data as it travels from one point to another. It is an additional protection against unauthorized access by third parties and data manipulation. Cloud file encryption protects sensitive information such as accounting records, product data, and customer information. Keeping confidential information safe can also help prevent identity theft and other financial losses.

anchor, creates a zero-knowledge cloud storage environment that turns any cloud storage option like OneDrive or Dropbox into a highly secure data layer. They automatically encrypt files before uploading them to the cloud provider and keep private keys to unlock the files on their own highly secure server.

2) Better compliance

You can avoid regulatory issues by using cloud file encryption. By using a cloud storage solution with encryption, you can ensure a high level of data protection without having to invest in additional IT infrastructure.

The main benefit is that it reduces compliance risks and the time required for security updates. Let’s say your business is subject to the EU-US Privacy Shield. In this case, using cloud encryption is even more important as it offers your customers a higher level of protection of personal data.

3) Improved efficiency

Reliable cloud file encryption gives you access to more convenient storage options that simplify your supply chain management processes. For example, you can easily access your cloud storage accounts from a single location. This makes it easier for everyone in your small to large supply chain to get the business intelligence they need to make timely decisions.

Additionally, with cloud file encryption, you can easily access your files and share them as needed. This means you don’t have to worry about hosting your applications in the cloud as you can manage your sensitive data from a single place.

4) Lower costs and better return on investment

Cloud file encryption helps achieve a lower total cost of ownership (TCO) for cloud storage. For example, you could use your savings to set higher budgets for IT improvements or add a team of new employees who all need access to cloud storage. It is estimated that encryption can help reduce your total cost of ownership by up to 50 percent compared to traditional data storage solutions.

Cloud file security with Anchor ensures compliance by providing users with secure data backup, data loss prevention, and multiple levels of encryption. The lower costs and improved efficiency mean you can more easily maintain your competitive advantage in the marketplace.

5) sustainability

Cloud file encryption reduces the physical infrastructure you need to support your business needs. For example, you don’t have to store your sensitive information on-premises to use cloud storage. That means your data is more accessible and less prone to theft.

Cloud encryption also helps you save on fuel costs as it reduces the bandwidth you need to run your cloud storage applications. Cloud file encryption helps reduce energy costs while providing an environmentally friendly solution.

About Cloud File Encryption

When it comes to privacy, sales, marketing and other departments within your supply chain need the right information to do their jobs. Cloud file encryption can help increase productivity by conveniently and centrally backing up important business data.

For example, you can keep your accounting records privately encrypted in a secure cloud storage account while ensuring they are accessible to the employees who need them most. You get an extra layer of protection against insider threats. This means you can be more proactive in protecting sensitive data by encrypting your files more heavily before they leave the office.

With the right tools and technology, your supply chain can range from average to exceptional. If you’re interested in learning more about your supply chain, contact an Anchor representative to learn more about how it can help your business. If your business is looking for other ways to improve efficiency, data security, and compliance, consider moving to a cloud storage platform like Anchor.

Article and permission to publish here provided by Janis Thies. Originally written for Supply Chain Game Changer and published on November 17th, 2022.

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