Digital Vault: secure storage for digital documents

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Digital Vault: secure storage for digital documents

Digital Vault: secure storage for digital documents 1920 653 keydok

Thanks to the digital transformation of companies, the management of files, files, contracts, etc., becomes a process system whose objective is the safe protection of each document. But, how is it that organizations can avoid unauthorized access, modification, or loss of information from said files or contracts? The use of a Digital Vault is the best alternative to these problematic situations.

“A digital vault will help you meet the requirements of government regulations to protect customer data, help with compliance issues within your organization, and reduce costs associated with keeping records safe from prying eyes or hacker and malicious computer scientists alike.” hypervault.com


What is a Digital Vault?

It is an electronic document storage tool, whose objective is to allow members of an organization to create, store, access, download and manage their documents from anywhere.

A digital vault can include contracts, documentation, whether they come from collaborators or clients, design files that can be logos, advertising banners and videos, among many other digital assets.

“It has been reported that from 2019 to 2024 the digital vault market will increase by around 12%, a very significant increase. However, this is not surprising, as the amount of information we store online has only increased over time. It is common for many people’s personal documentation to be stored online. If this stored information were to be hacked, we would be in a dangerous position, adding unnecessary stress and complications to our lives. Digital vaults help provide an extra level of security to keep our sensitive information safe, which is why there has been such a surge in demand.” trustandwill.com


Characteristics of a Digital Vault

The digital vault will allow files to be recovered, which, even if they are deleted, are saved in a backup against this type of loss. It allows the safe protection of documents and the prevention of losses. It also offers document management, that is, the creation, consultation, and management of any file. At the same time, it is capable of saving versions of the same file, for example, if a contract is signed by parties, each version of the modified file is saved. The latter is extremely important to maintain traceability at key moments of files that are changing.

This vault guarantees that the information within the documents that are safeguarded cannot be modified and, access to said vault is controlled and secure, seeking the well-being of all those involved. Likewise, both the sending, receiving and storage of data is done in an encrypted manner.


What can be stored in a Digital Vault?

Basically any important file for the company. Generally, invoices, deeds, contracts, intellectual property, processes and even secret formulas are stored. May also include cryptocurrency records, tax records, bank accounts, investment accounts, other service accounts such as utility, cable and streaming services, contracts, settlement information, online medical and healthcare accounts, professional credentials and personal, cell phone accounts, emails and a host of other data, just to give a few examples.

To make best use of the digital vault, it is advisable to include an inventory of all assets, both online and offline.

It is also essential to update this inventory and digital vault whenever an online account is added or removed or digital assets are acquired or removed.

Advantage

  • Secure backup of all versions of the same file or file.
  • With the traceability of the file, it allows having a backup before compliance and legality.
  • You do not need to install applications or have your own servers.
  • It guarantees that the content of the documents cannot be modified or deleted.
  • Access to the vault is controlled and secure.
  • The data in the vault is fully encrypted and protected.
  • Compliance with regulations and standards established by both industry organizations and government authorities.
  • Organization and conservation of information.
  • Reduction in the loss of documents.
  • Savings in physical space and costs for its use.
  • Savings in printing and filing costs.
  • Access at all times for inquiries.
Digital vault and digital wallet


Vault vs digital wallet

A digital wallet is a place which is just as secure as a vault, and in this place you can store all digital documents, that are considered useful and that are also required for the day-to-day life of people or businesses, for example, this can be a debit or credit card, some type of license such as a driver’s license, public transport tickets or some confidential code. Therefore, the e-wallet, as it is also known, allows people and companies to share, if necessary, and use the different documents that are stored within it. Although, if the device on which this information is stored is lost, it can become inconvenient, however, this digital wallet can be easily added to a new device. Therefore, the different security measures it has made it very safe.

Now, although the e-wallet is becoming more and more positioned and has an increasingly important role for carrying out day-to-day transactions, in the digital world, digital vaults enjoy greater flexibility. For today’s companies, which are always in constant change or movement, the digital vault allows them that all the information related to identity data and critical sensitive data, is always at hand, together in the accurate place and time so that they can be consulted and used if required. The digital vault has high security and offers optimal results for hosting and storing highly confidential digital information, whether it is for opening a bank account or information to apply for a loan, such as data to present a valid birth certificate to carry out procedures in another country. This type of data is usually stored inside the vault, because it contains sensitive information and must be protected at all costs.

Thanks to all this, it can be determined that digital vaults have a higher level of security. In this place, a user’s original information, such as verified and authenticated documents, are stored securely online, and can be accessed and shared, at various levels, by and with authorized individuals, companies, or institutions.

These types of documents are typically those used to support the main identifications, or official documents of supreme importance, such as a digital birth certificate, or to house information of a professional nature such as medical records or monthly bank data summaries, lists of employees, etc. The fact of losing or mixing this type of documents, or that someone else has access to them and can steal them, is a big problem for companies and puts the well-being and digital trust of all those involved at risk, for this reason, in addition Instead of using encryption, as in the case of digital wallets, a vault in the digital world will always require a much higher level of permissions to gain access, using various authentications.


Importance of this tool

If you are still not convinced that these systems are the best option to protect your information, here are some points that help you better understand the importance of digital vaults.

  • High security

This is a point that has been touched on throughout this blog, and here we emphasize on it. One of the main reasons that make a digital vault so important is that it is highly secure. This system that stores digital documents has its own processes and procedures and is specific to ensure that the information stored within is private and well protected. In general, different forms of encryption and authentication are involved.

  • Protection against vulnerable situations and hackers.

Because digital vaults are stored entirely online, all documents and information within them are in no danger of being destroyed by weather conditions external to the users, such as natural disasters such as fires, tornadoes, etc., hurricanes, or for theft of your business or home. There is also the risk that hackers seek to steal user information for their own purposes, and this has become an increasingly frequent and threatening risk over time. With all of your most important documents safely stored online, you can rest easy knowing that your most critical information is safe.

  • Understandable and easy to use

Since all data is stored in one place within the vault, it is incredibly easy to access all information when needed. Without a digital vault, you can go with the option of saving login details and sensitive documents in different locations, with different encryption to help keep them private. The problem that results from this is that the user can forget the paths where this information was stored, he can forget the security ciphers. Within a company, this could result in wasted time and money for those involved. Therefore, safeguarding all this information in a digital vault is highly convenient and necessary.

  • Helps comply with regulations

Due to the constant change that exists in the rules and regulations for companies by different governments, a digital vault becomes highly effective as it helps users and organizations to comply with the requirements of government regulations to protect all information from customers and people within the company, commercial data and even personal information, such as credit card numbers, thus avoiding fines or sanctions.

  • Accessible to all types of companies

For small, medium and large corporations alike, a digital vault is a valuable tool that helps protect your data and keep it safe.

This tool can help users prevent data breaches. In the specific case of companies, regardless of their size or sector, they must have all the necessary security measures to prevent external unauthorized access to information. A digital vault provides an extra layer of protection against hackers trying to break into your system or steal sensitive data from employees using social media accounts or email addresses they use at work. Therefore, currently, there are solutions that make it easier for small, medium and large companies to start using this type of system efficiently in the digital world.

In general, we can say that the risks that your documents or digital assets face, such as loss of information, modification of data or physical damage, can be avoided with the use of digital vault services. If your organization has a breach or if a security accident has occurred, having a safe place to store sensitive information will be essential to help you recover quickly and mitigate any damage caused.

Currently, there are solutions on the market that offer a fully customized solution according to what the company needs. Find out how Keydok Suite can help you in these processes. Send us a message if you want more information.

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