Running a small business means having to quickly get yourself and your team up to speed on many different skills that are often outside of your wheelhouse. While most small business owners aren’t data security experts at first, there’s nothing stopping them from learning the basics to make well-informed decisions about their business.
The protection of sensitive information is vital to retaining the trust of your customers. One data breach can ruin the reputation of your business and can potentially lose you customers for life. Additionally, a significant breach can leave your business liable for costly damages. To protect yourself from these risks, it is important to understand exactly how data is stored and protected especially when it comes to payment processing for your company. So, what’s the difference between common buzz words like “tokenization” and “encryption”?
Learn some of the unique terms that are most important for understanding the basics of data security and establishing digital infrastructures for small businesses.
Data Security Glossary for Small Business Owners
- Encryption is a common term in data security that describes the translation of plain text into ciphertext using a unique algorithm and key. Encryption is an important element in the storage of intellectual property and large data files of varying types. In this method of data storage, data can be accessed externally. However, without the unique algorithm and key, the data cannot be read or understood, rendering it valueless.
- Tokenization is a technique used to protect sensitive information like credit card or social security numbers. Unlike encryption, which uses a mathematical algorithm, tokenization assigns each character a random “token” value that is mapped out and stored in an encrypted database or “token vault.” In short, this system keeps sensitive information secure by disguising the information using random codes, the key to which is protected in an internal, dedicated digital database.
- The Payment Card Industry (PCI) is the information security standard in place to protect businesses and consumers alike from common credit card schemes. PCI compliance is a necessary element when looking for any secure payment gateway for online transactions.
- The Automated Clearing House (ACH) is a digital network for processing online transactions between participating financial institutions. The ACH can be used for transactions using both credit transfers and direct debits. Probably the best-known example of an ACH payment would be a payroll check that is delivered to a bank account via direct deposit.
- Software Assurance (SwA) refers to the level of confidence a company has over its protection against vulnerabilities in its software. Software assurance is a security must-have for any small business owner looking for a new piece of business software.
- Enterprise Resource Planning (ERP) is business software that integrates and streamlines essential business management processes using digital systems. To fully understand the value of ERP, it is important to break it down into its many security components and capabilities, including integration to online payment processing.
Ultimately, it can be challenging to find a system that incorporates all the must-have elements to payment processing while seamlessly integrating with the rest of your digital infrastructure. With the height of data security in mind, the team at Attivo has designed Attivo All-in-One, an integrated accounting and ERP software solution built to streamline business processes while promoting secure payment processing through EBizCharge.
Choosing the Right ERP Software for Data Security
Businesses need a software solution they can trust with sensitive customer information and valuable intellectual property. Attivo All-in-One is the solution that comes at an affordable, fixed, monthly price that will continue to support your business as it grows. The Attivo team designed this software solution specifically with the security of intellectual property and customer data in mind, minimizing the potential for liability and enabling your growth and long-term success. Equipped with state-of-the-art data encryption and credit card tokenization through EBizCharge, Attivo All-in-One provides the ultimate solution for secure payment processing.
Attivo All-in-One is configurable to your specific needs and comes with unlimited, ongoing support, leading-edge security, and personalized online learning systems at no additional cost. Additionally, Attivo All-in-One can be fully functional in a matter of weeks with a specially designed, automated implementation process. Learn more about how Attivo All-in-One can solve your business’s unique challenges and provide leading-edge security and dedicated cloud hosting: CLICK HERE.