Many companies handle gigabytes of data every day, and these data are transferred and shared with other employees, suppliers, business partners, or even customers.
It’s an essential part of day-to-day business operation, more so for companies in the 21st century—the era of big data.
These data can contain sensitive information, so securing data transfer should be de rigueur for companies.
Unfortunately, that’s not sometimes the case. Data breaches all too often occur, which can be financially disastrous for companies.
According to IBM’s Cost of a Data Breach Report 2021, the average cost of a data breach worldwide is USD$$4.24 million.
File transfer isn’t something that should be taken lightly. Something like a managed file transfer solution is needed.
An Overview Of Managed File Transfer
As a business grows, so does its need for a more secure and better file transfer protocol. At its core, managed file transfer (MFT) makes data transfer secure.
It’s a piece of software that provides a reliable and secure platform for companies to transfer or exchange data.
MFT uses encryption standards and file transfer protocols such as SFTP (secure file transfer protocol) or HTTPS (hypertext transfer protocol secure).
To learn more about MFT, click here: https://www.goanywhere.com/solutions/managed-file-transfer.
MFT includes technologies that make electronic exchange of information not only secure, but also automated, centralized, and streamlined.
For organizations, MFT is a much simpler method of transferring files, which in itself is a huge improvement over the other methods.
With MFT, safe and secure file transfers, whether internal or external, of both unstructured and structured data are possible.
These can include high-volume data, as well as compliance-related data.
Ways That Your Business Can Benefit From A Managed File Transfer
Certainly, MFT, in terms of security, is better than other popular but unsecured internet file sharing methods, such as e-mail, standard file transfer protocol (FTP), and others.
Moreover, choosing the right MFT software can provide you with a wide range of features that can meet everything you need for a secure, reliable, and efficient file transfer.
Some MFT programs can also satisfy your EDI (electronic data interchange) requirements with your external and internal partners.
Below are other ways that a streamlined MFT can benefit your business.
Stronger Encryption
An MFT solution uses compression and encryption methods that easily meet industry standards for data security.
These methods include SSH (secure shell), SSL (secure sockets layer), AES (advanced encryption standard), and Open PGP (pretty good privacy).
Moreover, MFT is scalable; it can handle an organization’s file transfer requirements, securely and dependably, regardless of the number of files.
As a result of various encryption protocols involved, MFT solutions meet the standards for file transfers that comply with regulations required in various industries, such as healthcare and finance.
Improved File Transfer Efficiency
Other file transfer solutions need manual scripts, which can take a lot of time. Some can also be expensive.
An MFT solution, on the other hand, doesn’t need custom scripts or programming. MFT is capable of processing large amounts of files using automation.
This means your team won’t have to spend time doing manual tasks that can be prone to errors, thus making file transfers efficient and reliable.
Some MFT solutions can let you attach large files to e-mails. MFT can provide a secure link to the recipient where they can download the data.
You can also see how many times the files have been downloaded, and who has viewed them.
A managed file transfer solution can also help you keep track of the files in your system; you’ll know where the files are from, who’s viewing them, or who’s editing them.
You’ll be notified of failed transfers, if any, as well as auto-retries. With these features, you won’t have to waste time looking for reasons for file transfer failures.
Robust Data Security
Robust security is among an MFT solution’s strengths, so it can prevent data breaches and failed transfers.
Data breaches, especially, can cost your company not only money but reputation as well.
Using MFT, your data are constantly monitored, and some controls protect them during the transfer process or even if they’re just sitting at your drive.
A managed file transfer program’s security makes sharing files to other stakeholders safe and straightforward.
This means MFT’s security protocols can secure files inside your organization and outside of it.
It makes sure that your connection is secure, and that your data are received safely by the intended recipient.
Cost-Effective
File sharing solutions, the free and open types, won’t cost you anything.
Sure, they can transfer files, but they don’t have the features that an MFT program has.
And if a data breach occurs, then it’ll cost you. The potential loss that can happen would blow up your budget.
When it comes to securing sensitive files, an MFT solution is worth every cent. In the long run, using MFT software can save you a pretty penny.
Most of all, your enterprise doesn’t have to deal with a devastating data breach.
Centralized Control
With an MFT solution, any file transfers, monitoring, automation, including access rights management, are controlled by an admin.
You can assign roles and give access rights, with user authentication to select employees, thus preventing unauthorized people from accessing sensitive data.
Final Thoughts
A streamlined managed file transfer solution is an important partner for any modern enterprise. At a time when data breaches from cyberattacks can cost businesses millions of dollars, MFT solutions can be a big boon.
While there are free file-sharing programs, they don’t have the features and functions that MFT can offer.
When it comes to compliance, control, ease of use, and security, the MFT solution is a better fit for any company’s file-sharing needs.