MFT has emerged as the strategic solution of choice for moving large files internally and/or externally, securely, and at whatever scale is required. End users in any organisation want an easy way to transfer files and if one is not provided they will find a workaround on their own.
More often than not, that workaround is a consumer-grade file-sharing tool, such as personal email, consumer file-sharing sites, remote devices, and cloud-storage services, all of which present unique and significant security and compliance risks to organisations.
MFT brings security, order, structure, and visibility to any organisation. How file transfers are accomplished, managed, monitored, and reported is critical to every aspect of business operations and extends beyond the company to reach and affect customers, partners, and other stakeholders. Confidence comes from knowing that the data was properly processed, reported, and analysed. The right MFT solution achieves the following:
A major issue with consumer-grade services is that they have a much higher cybercriminal profile. Cybercriminals are wise to the number of businesses storing and transferring sensitive information with these systems, making them a more popular target. In addition, the privacy policies of some of these tools allow them to gather information from files transferred within the service. It is often unknown what these providers are using the data for, but it is a significant concern for businesses sharing confidential information through these systems.
Enterprise level MFT solutions combat this shortcoming by putting the full control of data transfers and data security in the hands of the business user through various technical features, ensuring that encryption and proper compliance standards are met.
2. Centralisation & Automation
Reliance on a consumer grade file-sharing tools results in the decentralisation of data. Once data has left locally managed systems, the IT department cannot accurately manage or control it. When an employee uses a file-sharing tool like Dropbox, they will typically use their own account. This leaves the data transfer, which could be contracts, sensitive emails, or even proprietary company information, in the hands of the employee, not the IT department.
Beyond management of the data, is the fact that in this situation the IT department also has little to no control over the security of the individual’s personal account. The employee could have something as simple as ‘password1’ as their password, adding even more risk to this type of file-sharing. In this type of situation, when the IT department loses management and control over the data being transferred, it presents the potential for a breach of the Data Protection Act.
Enterprise level MFT solutions centralise the management and control over file transfers, allowing IT and business leaders to enforce policies to track the movement and security of sensitive files. They also provide an added layer of protection against the potential for an employee-caused data breach.
Automation is another main driver of why an enterprise should adopt an MFT solution. Many organisations are looking for better ways to automate their data processes. They sought a solution to expand their automation capabilities, enhance data security, and take control of their own workflow changes. By implementing an MFT solution organisations can lower the total cost of ownership automating the process of receiving a file, decrypting it, processing and encrypting it, and transmitting it again. This automation not only improves employee efficiency, it helps to codify security policies to protect confidential information.
For organisations that are required to satisfy a level of regulatory compliance consumer-grade file sharing solutions just don’t cut it. This is especially important for organisations in heavily regulated industries like finance and healthcare. An enterprise level MFT solution will guarantee that an organisation will remain compliant with the necessary laws, as they relate to the location and security of their files.
Implementing an MFT solution is a lot simpler for businesses than it might sound. Internal, external and ad-hoc file transfers can be conveniently managed simply by working with an existing email service. A good MFT solution will ensure the highest level of compliance such as PCI-DSS, DPA, Information Commissioner’s Office (ICO), and FSA, and will include a number of flexible deployment options.
4. Reduced Cost
MFT products allow companies to automate processes, saving labour, time, and effort throughout workflow processes and inherently less IT infrastructure. By integrating into the existing business processes, companies can frequently introduce the new security and compliance capabilities without drastically changing the way their users conduct business, thereby improving adoption rate of the new functionality.
For any organisation, retaining full control of their data, properly securing their data, and staying in compliance are all high priorities. By implementing an enterprise-level MFT solution it help will in controlling and centralising of your data, automating your business processes and keep you compliant with laws and regulations.