As more companies shift toward digital transformations, proper security measures become vital. From storing employee data to processing customers’ financial information, your business handles a wide range of data types, and it’s essential to keep them protected. In 2022, it’s estimated that cybercrime cost entities around $8.4 trillion worldwide, making them drastic threats to your company’s well-being.
One way to protect your data is with encryption. This process keeps sensitive information from unauthorized parties by transforming it into an unreadable code. Only those with a special decryption key can view or alter the data. Encryption shields your data from potential attacks and is a crucial feature in security strategies.
Encryption: Defined
Encryption is a cybersecurity procedure that protects data from being stolen. It scrambles data into a secret code that masks its true meaning. Only authorized users can access the genuine text — to other parties, encrypted information appears as a random string of letters, numbers and symbols called ciphertext.
You can use encryption in many different settings or purposes. You might apply encryption to saved data on a computer while it rests, or use the method when sending data to another sender. A wide range of encryption forms is available to meet specific industry needs or applications.
How Does Encryption Work?
Encryption works by transforming readable text, known as plaintext, into ciphertext, which is the encoded message. This process involves ciphers, which are mathematical algorithms. Ciphers disguise the message’s meaning by encoding data into ciphertext. While ciphertext appears random, it’s actually organized in a logical way. The order allows the receiver to unmask the original message.
To decode the data, you need a decryption key that corresponds with the scrambled information. The key is a set of mathematical values that allow you to unlock the real message. All authorized parties should understand and agree on the key before encoding information, or they might have trouble accessing the data later. Then, you use the key to transform the ciphertext back into plaintext.
Many modern encryption tactics use long strings of encrypted letters and multiple decryption keys. The more complex your encryption is, the more challenging it becomes to break through it. For instance, many hackers use brute force attacks to break through cybersecurity defenses. This type of attack uses trial and error to determine password combinations. Complicated encryption strings make it nearly impossible to determine the message without the authorized key.
What Are the Types of Encryption?
The two most common forms of encryption are symmetric and asymmetric. Here’s a closer look at the two major encryption types:
Symmetric Encryption
Symmetric encryption uses one key for encoding and decoding. One widely used symmetric cipher is the Advanced Encryption Standard, which was developed by the National Institute of Standards and Technology. All authorized users need the same code to access the encrypted data.
Symmetric ciphers are usually less expensive to create, making them ideal for mass quantities. They also take less time to decode, allowing users to access information more quickly.
However, the single code also poses a security risk — if an unauthorized person obtains the key, they can view any encrypted data or messages. It’s critical to keep the code within trusted circles and use the proper security measures to avoid unsafe access.
Asymmetric Encryption
Asymmetric encryption involves two separate keys. The public key is used for encryption and is shared with all authorized parties, while the private key works to decrypt messages. Anyone with the public key can send encrypted messages, but you can only read them if you possess the private one. The Rivest-Shamir-Adleman cipher is one of the original forms of asymmetric encryption and is still widely used today.
Because asymmetric encryption contains two keys, the encryption process takes longer. Public encryption codes are usually long and require more computing power to generate. This method is typically best for smaller data quantities.
Some businesses use a hybrid form of both symmetric and asymmetric encryption, adding extra layers of protection.
Why Is Encryption Important?
Encryption is essential for protecting sensitive data. From securing devices like smartphones to keeping emails private, encryption allows you to manage data securely. You can ensure your information remains private and reduce the risk of cyber breaches.
These are other benefits of encryption:
- Increased security: As cyber attackers create more innovative schemes, companies need robust security plans. Encryption adds a strong layer of security over your sensitive data, messages and all other business information. The method can protect resting and moving data. Even if someone steals a company device, they can’t access the internal data without the encryption key. You can lower your business’s risk of encountering a data breach or other serious cybercrime.
- Enhanced privacy: An important feature of encryption is confidentiality. It keeps message contents secret until they reach the intended user. That way, no one can read communications or access sensitive data unless they have the proper decryption key. You can send private messages or important company information without worrying about hackers intercepting them.
- Improved data integrity: Encryption also ensures integrity. It verifies the information’s origin and makes sure the contents haven’t been altered during transmission. Data integrity is essential for company procedures — damaged information or errors can lead to significant lost time and resources. If a hacker with malicious intent changes information during transit, it could have long-lasting impacts on your company. With encryption in place, you can ensure data remains genuine.
- Easier to meet regulatory standards: All companies must meet data privacy and security regulations. Many regulations require encryption to protect user data, especially when handling personal or financial information. You can reduce the risk of your clients’ data being compromised or stolen.
Contact Optimal IDM Today to Optimize Your Data Security
In the age of cybercrime, companies need thorough security measures. Encryption is an excellent option for securing your stored and transferred data. You can lower your chances of experiencing data breaches and other malicious attacks.
If you’re seeking a robust security solution, choose the OptimalCloud today. Our comprehensive solution provides optimized security with features like Single Sign On and multi-factor authentication. It also includes cloud-based directories, instant syncing capabilities, user management systems, compliance assistance and other crucial features.
The OptimalCloud integrates with many existing applications, making implementation simple. You can transform user experiences for customers, employees and IT personnel. To get started with the OptimalCloud, contact Optimal IDM today.
