Data security has become a major concern in today’s digital landscape. Data stored in our devices can be compromised by cyber actors who may hack, alter, or even delete it. Even worse, they could use the information to commit fraud. If you run a business or store clients’ sensitive data, you must protect it well using encryption that relies on cryptographic keys.
Cryptographic keys are used in data encryption. These keys change plain text into something hard to understand. Hackers who manage to access your data won’t be able to read or understand it because it is encrypted. Hence, they cannot use it in any way. When used well, cryptographic keys help prevent fraud and improve data security in your business.
Despite their importance, managing the keys can sometimes be challenging, mainly if you handle many. Managed key services are here to simplify encryption at scale. Keep reading for more details on key management services and how they can be helpful.
Understanding Key Management Services
A key management service protects your data encryption keys. The service is offered by a provider who securely manages them and provides regular updates if they need to change any of them. The provider manages the keys while giving you full access to them should you want to use them.
Generally, cryptographic keys are required to prevent unauthorized persons from accessing your data. Key management services ensure that remote hackers don’t gain access to the keys, thus protecting your data. They offer safe storage, which includes backup and possible revocation or destruction when no longer in use.
Benefits of Key Management Services
Below are the main reasons you may consider a key management service.
1. Better Security and Monitoring
Key management service providers have great security controls of data keys. They are well-versed in the main tactics that hackers use and, thus, offer the utmost security. Besides, the centralized services for many keys make the monitoring process easier. The key management providers can easily monitor what happens to the keys since they are kept in a centralized location. Their focus is on key storage only; hence, they offer proper security and monitoring.
2. Reduced Overheads
You can save substantial money by working with a great key management services provider. The management frees you up the costs of setting up the initial hardware and software for the keys. Also, you don’t spend up on the keys storage maintenance, which includes hiring a team. If you need proper key storage and your business is struggling financially, consider a managed service to save and get an affordable service.
3. Better Compliance
Sometimes, the industry guidelines and policies regarding the use of cryptographic keys change from time to time. The most common procedures include HIPAA, PSI DSS, and SOX. Every business that uses such keys should abide by the policies to avoid potential risks and legal troubles. In business, getting busy with other activities and paying less attention to compliance guidelines is possible. A managed keys services provider keeps up with the industry policies to ensure you remain compliant with your data encryption strategy!
4. Time Savings
Time is the essence of business, and you should save it whenever possible. Seeking key management services is a great way to save time. Usually, managing the cryptographic keys isn’t easy, as you have to monitor for any threats and safeguard them continuously. If you are busy and your team isn’t enough, you may not get enough time for managing the keys. Key management services free you of key management tasks, allowing you to carry out other equally important activities in your business.
5. Scalability
When your business grows or downsizes, your key management needs may also change. A key management services provider offers scalability, allowing you to choose a service that suits you. When your business grows, for instance, they can scale up your keys to keep up with the changing needs of your business. However, everything is done with your go-ahead.
How to Find the Right Key Management Services Provider
Many providers are offering managed services, and finding one can be challenging. If you are looking for a company you can trust, consider the tips below to make the process more successful.
1. Check Resources
Most providers use key management service software to manage the keys. Before outsourcing the service, check the types of tools they use and their effectiveness. The right provider will gladly let you know the tools they use.
2. Terms of Service
Every provider has its terms and conditions for the services it offers. As such, you should carefully check them to know if they are the best fit. The ideal provider will be available 24/7, transparently, and offer seamless access to your keys whenever needed.
3. Experience
An experienced managed key services provider will most likely offer helpful advice due to their rich experience. Cheek the number of years they have been in the industry and their skills to know if you can entrust them with your encryption keys.
Conclusion
Cryptographic keys play an important role in cybersecurity. They keep unauthorized persons from assessing your data because no one can read it without the keys. Working with key management services can be great if you run a large business or store customers’ sensitive data. The provider understands your business needs and helps you manage the keys, depending on your unique needs.
