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Information sharing is at the core of any businesses process today. To run a business, you have to constantly exchange data with remote employees, customers, suppliers and even external partners. Unfortunately, any instance of file sharing potentially exposes your organization to the risk of data loss, theft or fines due to missed service-level agreements or non-compliance with data protection regulations.
In case any of these really happens, there is a significant impact on your bottom line. This underscores the need for companies to deploy a secure managed file transfer solution which is a sure way to strengthen the file transfer process.
Here are three ways in which your file transfer system can impact your bottom line.
Data breaches can be costly in terms of response and containment
While a secure managed file transfer solution will prevent data breaches from occurring, using any regular shadow IT solution can allow serious data losses or security breaches that are downright costly to respond to or contain.
With the potentially devastating impact of a data breach on a business, there’s no specific measure to how much it can cost to handle even minor lapses in security. Not to mention the reputational damage it can have on the brand – hurting its market standing in the process.
As Ponemon Institute reports, companies lose millions of dollars in data breaches every year.
Your file transfer system can help keep file transfer costs in check
Processes that require human interaction or input are generally prone to errors, and errors decrease efficiency while creating unnecessary costs along the way. Additionally, as businesses grow, their information needs also grow. Unless your business has a scalable file transfer solution, managing the increasing volumes of data can be an expensive process.
On the brighter side, implementing a scalable managed file transfer solution such as from https://www.ipswitch.com/secure-file-transfer can help your organization minimize its file transfer budgets and cut the overall impact that such costs have on your bottom line.
These managed file transfer solutions are designed to handle increasing volumes of data as they come in while providing better security, improved reporting and a great level of responsiveness to changing business and technology landscapes.
With its single integrated interface, the solution gives you complete control over all aspects of the system. This means it is easier for your staff to manage even the largest amounts or disparate chunks of data.
Avoid compliance related costs
Perhaps one of the greatest things about a secure managed file transfer solution is how it helps you meet risk, governance and compliance related mandates.
Non-compliance is any industry can normally attract huge fines that obviously hurt your bottom line. That is why many organizations strive to implement stringent data handling rules. Still, such rules would not amount to much if the solution in place leaves certain loose ends untied.
With a managed file transfer solution, however, your organization can consolidate all its data transfers in a single, central system with automated management, visibility, auditing and reporting capabilities.
There are various costs associated with problematic file sharing systems. By implementing a solution that handles these costs, you effectively take care of the impact that they potentially have on your bottom line.