Why has Managed File Transfer become a “Must-Have”?

The rise and rise of interconnected business and cloud data storage has made it more challenging than ever for organisations to secure their electronic perimeters.

It’s no longer enough to monitor on-premise systems and internal networks. For the value of data to be unlocked, it must be active. 

However, the very act of transmitting your valued data exposes it to increased risk of interception, hijack and exploitation. Any electronic exchange with business partners, suppliers and customers is at risk.

Storing and retrieving data with cloud providers further exacerbates that risk.

Cyber Crime Wave

In 2024, cybercrime cost Australian organisations an average $4.2M per breach, a significant increase from previous years. Small businesses reported an average cost of $49,600 per cybercrime incident, while individuals reported losses averaging $30,700. The Australian Signals Directorate (ASD) received over 87,000 cybercrime reports during the year.

It’s generally easier to build cyber security defences around static, on-premise data.  However, that leaves the majority of business data interactions vulnerable. This is where a Managed File Transfer (MFT) solution – enabling more secure and more efficient data sharing – plays a crucial role.

MFT in the Defensive Line

MFT protects the movement of messages, data and files inside and outside of an organisation.  And as a bonus, it also makes that movement more efficient and reliable, outpacing and outperforming applications such as file transfer protocol (FTP), hypertext transfer protocol (HTTP), and secure file transfer protocol (SFTP).

When you consider the advantages MFT offers modern, data-driven enterprises, it’s unsurprising that its popularity continues to surge past its 2024 estimated global value of $12.6B.

Encryption: MFT employs robust encryption algorithms, reducing the risk of data breaches during transit. Features like Access Controls, and Multi-factor Authentication, safeguard sensitive information from unauthorised access.

Efficiency: MFT automates repetitive tasks. This not only reduces human error, it saves significant employee time. Through scheduling of file transfers, monitoring of progress, and automatic error-handling, it enables a significant boost to operational efficiency.

Compliance: In industries with strict regulatory requirements, MFT helps companies meet compliance standards (e.g. HIPAA and GDPR) by automatically maintaining detailed logs and audit trails.

Scalability: Through its ability to handle large file transfers and an ever-growing number of users, MFT is able to grow in sync with an organisation's needs, while maintaining superior performance.

Collaboration: In addition to improving business processes within an organisation, MFT facilitates seamless collaboration with external partners, suppliers, and customers, fostering strong relationships built on shared trust and reliability.

Local MFT Experts

At Generic Systems Australia we have decades of experience installing and customising MFT solutions to suit the needs of Australian and New Zealand businesses. 

If you’d like to explore how MFT can boost your organisation’s security and efficiency, please feel welcome to get in touch.  I’m always ready to have a broad-ranging, no-obligation discussion.

If you’d like, I can even organise a quick proof-of-concept to demonstrate how MFT can be easily tailored to your organisation’s specific needs.

At Generic Systems Australia, we’re your local experts in Managed File Transfer.