Organizations invest heavily in securing their physical premises with locks, surveillance cameras, swipe cards, biometrics, motion sensors, alarms and scores of security personnel. Do they do as much for their digital data and content as well? Is a digital back up enough? Certainly not.
With the current explosion of data and growth in business ecosystems, the exchange of data has grown in volume, velocity, and variety. In addition, the data is scattered across multiple networks and channels. When sensitive files are transferred within our ecosystem over legacy file transfer systems, they are vulnerable to several threats, both internal and external. The result: regulatory consequences, legal action, public embarrassment, brand erosion and loss of business. The need of the hour is a managed file transfer (MFT)system. MFT provides organizations the security and confidence to exchange data and collaborate without the worry of risk, regulatory penalties and business loss.
The cost of file transfer practices that have lagged behind changes in the technology spectrum, especially cloud systems and mobile data exchange, can be severe. According to the Ponemon Institute’s 2015 Global Cost of Data Breach Study, the average consolidated total cost of a data breach is $3.8 million representing a 23 percent increase since 2013.At the core of the problem are legacy FTP systems and multiple home-grown solutions, many of which are slow, inflexible and expensive to maintain. Today, they need an urgent refresh. A robust and secure MFT solution is needed to deliver end-to-end secure file transfer that is integrated across applications and third party systems. Some of the crucial security/compliance features in your MFT system should include:
- Data Leak Prevention (DLP) to ensure the highest level of compliance
- Protection for data ‘at rest’ and ‘in motion’
- Role based authentication
- Visibility and control over file movements
- Alert and notification mechanisms
A quick examination of your file transfer systems will show that there are several gaps you need to plug. In addition, a careful cost analysis is important to see if the costs associated with file transfer be brought down. If the only way in which your file transfer system has advanced is age, it is time to give your business a new MFT system that allows you to respond to business opportunities faster.