Business Integration

Stretching the IT Spend: Address Pain Points and gain Competitive Advantages with an FSI-specific Platform

data-security

Welcome to the first of our series of seven posts on choosing an FSI secure data transmission platform!

Over the last 5 years, banking infrastructure decision makers are increasingly being faced with new legislation and compliance regulations that change how IT systems are managed and monitored. IT budgets are expended managing these changes and although projects that create value for clients are required for business agility, IT is under pressure to do more with less funding.

The costs of running legacy environments, especially with an increased data exchange volume, further eat away money budgeted for value add IT projects. These changes mean IT infrastructure investors are requiring more out of their IT investments – with considerations for scalability and flexibility at the top of list of requirements.

At the same time, with the ability to switch banks vastly simplified, current and potential clients are informing themselves about the advantages and disadvantages of service providers. The speed at which banking can be integrated with a business can be a major factor in standing out – and ahead – of the competition. (more…)

SEEBURGER not vulnerable to Heartbleed

Here is a short Q&A about SEEBURGER products and services in response to the recently announced security threat called Heartbleed:

Are SEEBURGER products affected?
No. SEEBURGER products are not directly affected by the Heartbleed Open SSL issue. But we do recommend that your company review any use of Open SSL to ensure your system’s security.

Are SEEBURGER platforms or cloud services affected?
No. SEEBURGER products (except BIS5) do not use the OpenSSL library for network servers and we also do not ship or require the library in standard operation. SEEBURGER BIS5 Client Adapters P7 and FTP are not using a version of OpenSSL affected by the Heartbleed bug.

SEEBURGER’s Secure Edge, as well as SEEBURGER BIS6, PI adaptors, SEEBURGER Web-Applications (E.g. IMartOne) and our secure file transfer solutions MFT/SEEFX are based on the Java platform which protect against programming errors common to implementations in the C or C++ programming language.

So is my company totally safe?
Although we can confirm that our products and services are not affected, systems which connect to SEEBURGER products and services may have vulnerabilities and we encourage you to perform your own security audit.

Where do I go if I want more information?
Customers can login to our knowledge base for more detailed information. Visit our homepage under hot topics: www.seeburger.com for our official response from our team, or for more information specific to the heartbleed bug visit heartbleed.com

Onboarding: How to Capture Your ROI After the Deployment

business meetingby: John Applegate

So you’ve done sufficient due diligence during the software acquisition to have confidence that the solution will meet your technical requirements and the solution has been deployed.  Now what?  Job #1 is to focus on meeting business objectives.  Here are three motivating factors that should drive your focus.

Focus on Business Objectives

  1. Capture Revenue:  You want to do business with your customers in new ways but your legacy platform(s) are preventing you from on-boarding them or supporting the business model effectively.  You need to get them on the new platform …fast.    The new system must provide rich features and capabilities.  For example, direct support for all data formats, dynamic routing capabilities, communication protocols available allows you to say ‘yes’, we can do that…today. This translates into faster time to revenue.  And ultimately, this agility will make you more competitive to win more business.
  2. Mitigate Risk: Your new platform provides security that ensures data is protected from loss and that sensitive data is protected.  It enforces compliance with external and internal security controls for transparency and visibility, and industry compliance standards like PCI-DSS and customer SLAs. It also supports business continuity. In a 24/7 financial world, your business needs to be up and running at all times.
  3. Reduce Costs: The solution you choose should not only improve operations, but should also help cut costs.  The new platform will make you more efficient in how you support customers.  For example, you should be able to offer self-service value-add capabilities such as track-and-trace visibility for internal business users (or even customers themselves to eliminate delays, improve customer relations, and cut down on laborious support activities that are a bottleneck.  Additionally, shutting down the legacy platform saves operational and license/maintenance costs.

Accelerating the migration off of your legacy platform and building a methodology for on-boarding will make this promised ROI a reality.  During the vendor selection process, the vendor’s solution for migration is equally as important as the technology itself.  It’s imperative that the vendor has the tools and experience to *finish* your migration….not just start it.  And be skeptical; not all vendors can deliver on their promise.  Without the ability to actually conclude your migration, the shiny new platform will sit idle and your customers are stuck on the old platform with continued costs, risks and bottlenecks.

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BYOD Is Not Going Away—in fact, it’s going to explode.

BYOD-imageBring Your Own Device (BYOD) is basically an official, unofficial or unwanted policy of employees bringing their own mobile devices to work to use for work purposes. They use their devices to access confidential company applications, data and files. BYOD exposes companies to significant risk. But it also offers companies significant opportunities. As far as the trend goes, employers are finding it next to impossible to stop it. When it comes to how you approach BYOD, you essentially have two options.

Ignore it

1)  What can happen?
You’re exposing yourself to data breach risks, as well as potential regulatory non-compliance. You are also inadvertently sending a strong message to your employees that you find them too untrustworthy for BYOD and they should just accept the burden of managing multiple devices.

2)  Next steps:
Self-explanatory

Deal with it

1)  What can happen?
BYOD offers the potential to cut costs on the money you spend on mobile devices, including smartphones, laptops and tablets. You also increase employee morale by telling them you trust them to use personal devices for the benefit of the company. You are a flexible employer.

2)  Next steps:
Put a solution in place that will ensure company data is secure from unauthorized data breach.

If you choose to accept the future of BYOD, you need a way to secure your data when it’s on employee’s personal devices. That’s where a solution like SEEBURGER SEE FX Mobile comes in. Considering we’re the recent Info Security Product Guide Awards gold winner in the BYOD category (our fourth award since its inception), you’d be hard pressed to find a better solution for mobile data security on employee’s devices. SEE FX Mobile allows users and the business to:

  • Access files on the SEE FX server on the go without a laptop
  • Subscribe to and synchronize the latest versions of files automatically
  • Enforce corporate and regulatory security policies for mobile users
  • Maintain a complete, integrated audit trail of all file exchanges

As a component of our SEEBURGER MFT solution (which is offered on a low monthly subscription basis or through a traditional license) SEE FX Mobile is a free downloadable mobile app—can’t beat that. And with clients like Keurig owner Green Mountain Coffee Roasters, the world’s largest investor-owned energy provider and the largest financial services firm in Northern Europe, it’s a tried-and-true solution that major companies know they can depend on. Learn more today by visiting our SEE FX Mobile and SEE MFT solution centers.

 

Taming TCO in the financial services industry

stairsFile transfer is more than a given at the average financial institution. The Financial Services Industry (FSI) thrives on information and devours it. In one day you might send and receive files in and out of the office, down the street and across the globe, and back and forth with agents, clients, brokers and more.

Combined with the amount of data flying around—the need for an efficient file transfer solution seems pretty clear. A solution needs to protect sensitive data while keeping a lid on costs. Unfortunately, legacy systems do neither. Weighed down by disparate FTP and script tools, and a lack of visibility and secure protocols, these systems become an endless road to nowhere once their last friend in IT retires.

A single, modern file transfer solution can resolve these problems. Modernization and consolidation go a long way towards improving security, and centralizing management and data transmission governance. They can also substantially reduce total cost of ownership (TCO). Factor in the costs of multiple toolsets, software licenses and maintenance agreements and the savings can quickly add up.

Visit our FSI Solution Center now to learn how a major insurance company modernized, consolidated and cut costs with SEEBURGER Managed File Transfer (MFT).

SAPinsider article sheds light on supply chain troubleshooting

lost expressionThings like locating a customer order or figuring out why it didn’t ship in an ERP or SAP system can be, well, pretty much a mess. It can take hours to answer simple questions, concerning customers, stalling supply chains, and costing a bundle in labor costs and missed SLA deadline penalties. A little Q&A will illustrate this a bit more.

Q. Can’t I just rely on my ERP system?

A. The reality is you can’t. In fact it’s estimated that IT and ERP staff likely spend as much as half their time troubleshooting B2B processing problems.

Q. Why do ERP systems cause problems?

A. They lack central B2B process visibility and store messages separately from business documents. Even SAP systems can store documents in up to 10 different applications.

Q. What are the real world consequences?

A. It can take hours to research problems, increase overhead, damage your customer relationships, cause you to miss SLA deadlines and create production outages.

Q. So what’s the solution?

A. You need to find a way to speed up the troubleshooting process and make it possible for non-technical users to resolve problems as well. A proper SAP add-on can do this.

As a longtime SAP business integration partner, SEEBURGER’s Monitor for SAP comes as an integrated, preconfigured add-on that provides centralized visibility into B2B processes. It’s easy to use even for the non-technical user, as it’s displayed next to your SAP screen and features the SAP interface you’re used to.

Read the SAPinsider article today, and make supply chain monitoring working for you—not against you.

Online security in the financial services sector is a risky business

Imagine hundreds of billions of dollars vanishing right before your eyes. Well that’s exactly what happened yesterday when someone caused the stock market to temporarily crash by hacking into AP’s Twitter feed and tweeting about a White House bombing that never happened.

Unfortunately, hacking, intrusions, phishing and Internet fraud are just some of the malicious activities that occur on a daily basis. To some extent we are so bombarded by them that we have become kind of ambivalent. This is exactly what we should not be doing. These malicious activities occur on an epic scale, probing for vulnerabilities in a highly-sophisticated manner. This is a 24/7 operation that never sleeps, takes vacation or sick days, or goes home on the weekends. It never takes a break when you do.

While many are talking about Twitter security concerns, financial institutions are obvious targets for those seeking ill-gotten gains, as well as those with anti-West and anti-capitalist political motives. And yesterday’s events proved that social media’s problem is also a business problem. It’s critical that financial services and insurance companies maintain ongoing security efforts, not only to defend against these kinds of attacks, but also to provide continuity in case of catastrophic events like Hurricane Sandy—which had a tremendous economic impact on businesses in the financial services sector.

Today, financial services institutions typically use data transmission platforms to move various data around geographically diverse entities, as well as to and from customers and partners. A burglar opening a safe that is a computer screenLegacy systems are not fit for this purpose. It’s a dirty little secret that openings exist which could be found by internal staff and malicious outsiders. The good thing is information security departments now have the budget to modernize and consolidate these platforms in order to eliminate any vulnerability, while also increasing agility and reducing costs. Learn more about SEEBURGER’s financial services offerings today.

 

 

 

Butterball is No Turkey When it Comes to EDI

gearsAmerica’s largest producer of turkey products takes business and technology pretty seriously. With seven plants and $2 billion in annual sales, Butterball doesn’t have time to mess around. That’s why the company decided it was time to give its legacy EDI system a last supper and adopt the SEEBURGER Business Integration Suite.

Butterball discussed their experience with the migration of legacy EDI technology and the integration with SAP during a recent presentation at the SAPPHIRE ASUG Annual Conference. In short, the company has been able to execute multiple integration projects since adopting the software, streamline business processes and use SAP’s ALE integration layer to significantly reduce project development time.

Butterball’s journey started in 2010, when the company realized its EDI system wasn’t cutting it. It couldn’t handle the workload, couldn’t meet partner’s demand for complex integrations and couldn’t onboard new trading partners efficiently. The company saw a rise in EDI error rates, which put it at risk of processing and shipping delays. Something had to be done.

So Butterball turned to the SEEBURGER Business Integration Suite (BIS) to solve those problems and increase the value of its SAP deployment. Thanks to a 40 percent increase in customer EDI enablement, shorter rush order turnaround and more customer services, Butterball was also able to reduce costs.

Visit our SEEBURGER BIS Solution Center today to learn about best practices in SAP.

 

Protecting financial services industry data—from the inside

safe-communications (2)It’s often said that we are our own worst enemies. According to a Ponemon Institute report, employee or contractor negligence is the root cause of almost half of all data breaches. This is important to note in the financial services and insurancesector—where data breaches can be downright catastrophic.

According to the report, the majority of breaches occur during transit to a third party or within the business unit, with endpoints and databases the most likely to be compromised. Breaches are often caused by errors in data transmission or a reliance on insecure Internet applications.

So what can you do to prevent internal data breaches? Three key things to keep in mind are:

  1. Managed File Transfer—this solution provides automated monitoring, security management and integrated governance of all structured and unstructured data exchange.
  2. Ad-hoc Information Exchanges—a solution like SEEBURGER File Exchange (SEE FX) allows users to transmit files while IT retains centralized control for security purposes.
  3. Mobile Devices—a good mobile security application will keep security protocols in place to enable secure file transfers to and from smartphones, tablets and laptops.

Building customer confidence in your ability to keep information safe is vital—especially in the financial industry. Visit our FSI Solution Center to read more about how to prevent insider data breaches, and get access case studies, videos and more.

 

 

SEEBURGER Virtual Summit- Trends in Business Integration and Secure File Transfer

SEEBURGER-Virtual-Summit-websitebuttonsTime and again, our customers have requested the opportunity to get together with other SEEBURGER users to share ideas, learn from experiences and discover best practices. As such, we are pleased to announce our first ever Virtual Summit on October 23, from noon to 3 pm eastern time.

As we were building out the agenda, we realized that we had so much great content and information to share that we decided to open up the event to all individuals interested in learning more about business integration, secure file transfer and best practices for SAP. This half day event will have 3 parallel tracks in order to address the different needs of IT, Security, and Supply Chain professionals. We will cover topics like Trading Partner Collaboration and Enablement, future trends in EDI and B2B, Cloud, DLP and much more.

We are also excited to have a number of SEEBURGER partners participating in this summit. They will be on board to share with you their knowledge and best practices. You’ll have the opportunity to hear from and interact with experts from HP, Code Green Networks , Freudenberg IT  and others to name a few.

What makes this online event very different from a webinar, is that it’s a totally interactive experience. Think of it like going to a conference and tradeshow, but from the comfort of your desk.  You’ll have the opportunity to ask questions, interact with attendees, visit sponsor booths and participate in group chats on a number of industry topics. One of the live chat sessions is a unique opportunity to interact with SEEBURGER’s CTO and Head of R&D, Michael Kleeberg. This will be a fantastic opportunity for you to hear about future developments, ask technology questions, or simply ask for tips for how to take your enterprise to the next level.

The event will open with a panel discussion, hosted by our SVP of Global Strategy, Rohit Khanna. Together with industry experts from HP, Wipro and others, Rohit will cover topics of Big Data, Mobility and Cloud, including impacts and challenges to improving B2B integration and file transfer.

To learn more about the agenda and to register, visit our registration center. You will receive a confirmation email once your registration has been processed. Make sure to visit the Virtual Summit environment a week before the live event to take advantage of some of the pre-event course work that will be available. You’ll have the opportunity to get some in-depth information about secure file transfer, B2B integration and SAP best practices. This will also be a great time to fill out your profile, to take full advance of the networking opportunities this event has to offer.

We look forward to seeing you at the SEEBURGER Virtual Summit!  Register Now!