Whether you are an executive, a member of IT staff or a user in a line of business, it is likely that you’ve securely shared files or collaborated with others using an Enterprise File Sync and Share (EFSS) solution.
So what is an Enterprise File Sync & Share (EFSS) Solution?
Enterprise file sync and sharing (EFSS) is a software service that allows users to securely share and sync files, documents, photos, and videos with employees, partners, or customers across multiple devices. EFSS services allow organizations to use on-premises or cloud storage depending on their security or compliance needs. Many organizations adopt EFSS technologies to prevent employees from using consumer-based file sharing apps, which IT can’t manage or control.
EFSS services sometimes include workflow features that allow users to edit files, make comments, and track document versions. Security capabilities include authentication, data encryption, and containerization. Some services even allow IT to set granular access policies to control who’s allowed to access what.
So why should my business use an Enterprise File Sync & Share (EFSS) Solution?
#1: To Secure Work-from-Anywhere Environments
Here’s the issue businesses are facing now: it is harder to detect potential IT security issues in our current work-from-anywhere world. Employees collaborate in remote locations that often lack the comprehensive security protection of traditional corporate networks. As a result, organizations need to track user access and sensitive data across hundreds or even thousands of locations, rather than the limited number of offices or office they previously had to secure.
With an Enterprise File Sync and Sharing (EFSS) Solution like Egnyte for example, your users can collaborate securely on sensitive data in the cloud. They can access content from anywhere, using their preferred type of device. Your employees and their colleagues can edit documents, create financial proposals, or manage legal contracts—activities that are critical to getting work done and keeping workflows moving. You can also amplify employee productivity through integration with key business applications like Microsoft Outlook and Microsoft Teams.
#2: To Combat the Pervasive Threat of Ransomware
According to a Performance Improvement Partners study, 94% of cyberattacks on businesses utilize social engineering techniques to trick employees into sharing information or installing malware. Once a cyberattack is launched, malware such as ransomware can quickly spread and encrypt sensitive files across a firm, crippling organizational productivity by making mission-critical data inaccessible.
Ransomware attacks have become so prevalent that all organizations must recognize that no company is safe from being targeted by ransomware, regardless of size or location. Realistically, it’s only a matter of time before a company is impacted by ransomware.
To combat ransomware, Enterprise File Sync and Sharing (EFSS) Solutions like Egnyte for example combine machine learning-based behavioral analytics with signature-based protection to identify malicious activity like file renaming, deletions, and changes in file entropy.
For maximum success, technical solutions for ransomware need to be combined with user education on the importance of not clicking on potential phishing emails or visiting suspicious websites on company devices.
#3: To Maximize Operational Efficiency
Enterprise File Sync and Sharing (EFSS) Solutions’ secure collaboration technology provides businesses with a completely hybrid platform, so they can modernize their data governance capabilities, while preserving the company’s existing hardware investment. For that reason, businesses can maximize IT spending with a predictable, SaaS-based deployment model, while maximizing their end users’ collaboration capabilities.
Make sure to supplement secure collaboration solutions with end user education. Explain why it’s important to store and share files within officially sanctioned platforms, and why they should avoid ungoverned shadow IT solutions that can jeopardize your sensitive data.
#4: To Navigate Evolving Compliance Requirements
Compliance regulations are evolving rapidly, and global data privacy mandates continue to expand. Businesses need a practical way to automate compliance efforts and maximize productivity.
Enterprise File Sync and Sharing (EFSS) Solutions like Egnyte automatically identifies and inventories sensitive data wherever it resides using hundreds of built-in data patterns and proprietary AI. They help to provide a convenient dashboard that allows you to review potential organizational risk, so your team can prioritize remediation and manage threats more effectively.
You can even determine how much of your sensitive data might be subject to regulatory requirements by using automated compliance and content classification policies that meet data privacy and industry mandates.
Complement your technical compliance activities with end user education that reinforces which regulations your company is subject to, and teach users about their role in storing and sharing data securely.
#5: To Reduce The Risk of Insider Threats
According to a Verizon Data Breach Investigations Report, organizational insiders accounted for 44% of threat actors in the financial and insurance sectors. Insiders include disgruntled employees who steal data to bring a competitive edge to their new employers, contacts who sell compromised data, and end users who inadvertently make careless mistakes.
Overall risk is amplified especially for firms who hold several active portfolio companies, as this greatly increases a cyberattacker’s potential attack surface. Insider attacks can also be particularly difficult to identify, since perpetrators generally have legitimate access to the sensitive information, and such firms routinely store sensitive information across a broad range of portfolio companies.
These businesses therefore use Enterprise File Sync and Share (EFSS) solutions like Egnyte as their data governance solution because it enables them to effectively monitor abnormal user behavior, including uncharacteristic downloads of large volumes of sensitive company files. These file sharing solutions platform also has content safeguard features that reinforce secure file-sharing best practices, including only sharing sensitive information on a need-to-know basis.