A Secure Online Data Repository (SODR) is a huge database infrastructure that consists of several databases, that collects and manages sensitive data for analysis and report generation. Users with authorization can access and retrieve data using search and query tools. Repositories also offer a complete view of organizational data through the integration of data from multiple sources.
Centralization of data within a repository minimizes the possibility of structural discrepancies across different datasets. Repository sites can be designed with built-in validation mechanisms that ensure data conforms to certain standards prior to when it’s consumed or updated. This allows governance guidelines to be consistently applied to ensure that the quality of data is maintained and security protocols are adhered to. It is also easier to monitor access and security protocols in a central system instead of across multiple locations.
Many data repositories have the option of encrypting both at rest and in flow, preventing delicate information from being read, altered or modified by unauthorised users. This feature collaboration between accountants and their clients reduces the possibility of sensitive information being released accidentally and could be a major security issue for companies. In addition regular backups are a popular feature that can secure data from malicious attacks which could destroy databases of vital information. In addition the majority of repositories allow versioning of data – so that when information changes or is modified, previous versions are retained to track and revert the changes. This helps to prevent the loss of critical information in the event of an attack on the system or a hacking attack.