How do Companies Store Sensitive Information

I am not a security expert and I work for an organization with 100 users that incorporates M365 Business Premium licenses for its users. My manager is looking for find alternative methods for storing sensitive employee information.

I am looking for a service that lets us securely store documents internally in our organization and hope to prevent file downloads, emailing sensitive documents or having to screenshot important information. I am curious to see how big companies do this.

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