Low-cost file transfer tools allow mid-market businesses to make simple data exchanges both internally and externally. As your company grows, however, trading partners demand enterprise-level systems to improve reliability and data security.
Managed File Transfer (MFT) emerged to reduce the cost and programming skills required for you to meet customer requirements and stay competitive in the marketplace. According to an Info-Tech Research Group report on selecting and implementing an MFT solution, there are five signs that indicate your organization could benefit from this technology.
1. A need for transparency and traceability in file exchange activities
2. New business relationships mandate adherence to compliance laws and privacy regulations
3. Traditional methods of sending data, such as FTP, aren’t secure
4. Processes need to be more agile and adapt to changing network conditions
5. The inability to comply with government reporting requirements
MFT provides comprehensive audit trails and monitoring to document all file transfer activity. Reports generated from this data show every interaction with the files on your server in great detail and allow you to better serve customers by responding quickly when problems do arise.
When security and reporting tools are needed to meet strict regulatory compliance standards of even highly-regulated industries, MFT delivers. These include the data protection and integrity requirements found in PCI DSS, GLBA, SOX, Dodd-Frank and state privacy laws.
In light of recent high profile data breaches, many organizations have chosen to reduce their risk by seeking alternatives to unsecure FTP. MFT gives you the flexibility to connect with trading partners using secure protocols and popular encryption methods like SFTP, FTPS, HTTPS, AS2, Open PGP and ZIP with AES.
In addition, automation and simplified workflows offered in many MFT solutions streamline the process of adding and onboarding trading partners. Companies can reduce or eliminate time spent on manual file exchanges and interrupted file transfers, thus reducing administrative costs and assuring the timely delivery of mission-critical data.