The role of data is evolving in every industry. Not only is the sheer amount and variety of information increasing, but so is the extent to which firms rely on these resources. This means that businesses are using data in ways that were never before possible in order to remain competitive in their given sectors. To this end, data sharing and access are essential.
However, there are other considerations, as well. Notably, federal and state governments have recognized these trends and have passed a variety of compliance regulations to ensure that customer data remains safe at all times. Failure to abide by these guidelines can lead to fines, audits and other sanctions.
It is therefore imperative for businesses of all kinds to take steps to ensure that they achieve compliance when it comes to handling sensitive data. And a high-quality, reliable managed file transfer (MFT) solution can play a key role in this regard.
Data for all
One of the most significant recent developments in the way that firms leverage data is the rise of self-service. In the past, it was standard for virtually all data processing and analytics to take place within the IT department, which would then distribute the results to the appropriate personnel. Now, however, tools are available which enable these personnel - including salespeople, customer support representatives, managers and more - to utilize the data themselves, gaining valuable insight immediately. This is far more efficient than the less direct strategies of the past.
Another key development is the growing utilization of unstructured and semistructured data. Until the advent of modern analytics and business intelligence (BI) tools, this data was essentially unusable to businesses. Now, it can serve as the source for powerful industry and consumer insight. Consequently, firms are eagerly accumulating as much big data as possible.
The combined effect of these trends is a tremendous increase in the need for numerous individuals throughout a given business to send, receive and access a wide range of data, including sensitive customer information. To mitigate the risk to consumers, state and federal governments have instituted rules which demand that firms take strong steps to ensure that this information remains safe at all times, including while it is in transit.
If a data breach occurs and an investigation uncovers lax data security policies and practices, that organization may be fined thousands or even millions of dollars. Furthermore, the relevant government agency may subject the firm to regular audits, which will be time-consuming, costly and a drain on employees' energies. Furthermore, all of these consequences are on top of the negative publicity the organization will receive in the event of of a breach.
To avoid both experiencing a data breach and the investigations and fines which are likely to follow, it is imperative for firms' decision-makers to make data security a major priority throughout their organizations. And deploying the right tools is a key component of any effort in this capacity.
This is where high-end MFT solutions enter the picture. MFT tools represent a fast, easy way for employees to send and receive files of all kinds throughout and beyond the organization. MFT tools are easy to deploy and feature a high degree of advanced automation, thereby maximizing efficiency and speed.
More importantly, best-in-class MFT offerings feature robust data security that enables firms to meet and maintain all relevant compliance measures. The risk of experiencing a data breach and subsequent fines diminishes, while the ability to effectively share data with employees who need to leverage these resources is greatly increased.