The most important asset your company has is information—often highly confidential or proprietary information about your customers, business partners, employees, intellectual property, and more. We’re talking about employee social security numbers, banking and accounting information, and proprietary product information.
Here’s the thing. Eighty percent of that information is kept in files, not the ERP systems companies invest millions of dollars in. The vast majority of highly confidential and proprietary information is often shared via old-school File Transfer Protocol (FTP) solutions, email programs like Outlook and Web file sharing services like Dropbox.
But you don’t allow external file sharing services, right? Well, you may not know who is using these free file sharing services at your company and what they’re sharing on them, according to an analyst at IDC. Employees turned off by old-school file sharing solutions sometimes turn to modern “user-friendly” solutions like Dropbox as a shortcut.
That’s why you need a file transfer solution that a) won’t turn your users off, b) ensures the security of your data and c) keeps a lid on the hidden costs that pop up with many file transfer solutions. SEEBURGER Managed File Transfer (SEE MFT) combines user-friendly interfaces with the highest levels of security on a platform that helps control costs.
Learn more by reading The TCO of FTP, Hidden Costs of “Free” File Sharing today. For more information about how MFT can help protect your organization, visit our Managed File Transfer resource center to learn more.
One of the North America’s leading telecommunications companies had a problem. After corporate restructuring, it needed to tell a patchwork network of legacy EDI system to take a hike—but didn’t quite know how to do it. The company needed to consolidate onto an efficient, cost-effective EDI/B2B platform, which ultimately lead it to the SEEBURGER Business Integration Suite (SEE BIS).
The EDI problem
The company’s three fragmented, outdated EDI/B2B landscapes were initially merged using a wide range of disparate solutions. This overly diversified environment let to redundant processes, a more than ample chunk of overhead and a problem finding experienced personnel for each individual solution.
The EDI solution
The company was attracted by SEE BIS’ robust and cohesive feature set, including comprehensive global support, extensive functionality, multiple language support, pre-built components and more. SEE BIS’ unified integration with SAP also met the company’s need for seamless data exchange on the SAP platform.
The end result
The company found SEEBURGER modernization and consolidation to be of incredible value. In fact, it saved almost 50 percent of EDI costs upon consolidating the systems on SEE BIS. Besides better security that attracted partners and suppliers, and more internal transaction message control, the company:
- Consolidated its EDI infrastructure into one data center
- Achieved a 60 percent reduction in software licensing costs
- Achieved a 30 percent reduction in VAN charges
- Cut message tracking time from hours to five minutes
Something to consider
How does the idea of potentially cutting your EDI costs in half sound? Pretty nice, eh? Well then take the first step by visiting our modernization and consolidation solution center today to learn more.
As Northern Europe’s largest financial services group, Nordea’s customers expect it to provide comprehensive, cost-efficient solutions. With set of disjointed, often duplicated file-based transaction solutions and a fragmented infrastructure, something had to give. Costs were too high.
After an extensive review of many solutions, Nordea opted to go with SEEBURGER’s Business Integration Server (BIS6). The company was drawn to SEEBURGER’s competence in modernization and consolidation projects, and the solution’s robust and unified global platform. Thus the business communication and infrastructure integration project began.
Upon completion of the modernization and consolidation project, Nordea was impressed not only by the solution, but also by SEEBURGER’s level of flexibility and commitment.
“We had full access to the SEEBURGER development team and they were really perceptive about our needs and also future requirements,” Claus Richter, head of Nordea global integration services said.
Learn more today by reading the full case study.
For more than 40 years File Transfer Protocol (FTP) has been the mainstay of file transfer management solutions. If it was a married couple we’d be patting it on the back for hanging in there—but it’s not. It’s a 40-year-old file transfer solution that is probably costing a whole lot more than you think.
In fact, some estimates pinpoint the cost of operating 100 FTP servers at right around $1 million. When you consider the fact FTP is not secure and simply not equipped to handle large volumes of mission-critical file transfers, nothing adds up other than the cost of running it.
Use the chart below to estimate what FTP is really costing your business. Don’t forget to include indirect costs (personnel, tech support, etc.) in your final calculation. Then read the TCO of FTP: Hidden Costs of Free File Sharing white paper to learn more about the FTP problem and its solution.
For more information, visit our Managed File Transfer resource center: www.seeburgermft.com
Last year’s Barclay Bank Libor-rigging scandal was likely caused by cultural problems following a speedy expansion, according to a recent BBC News article. A study found the financial services firm’s strong culture of winning, siloed departments with different values, and lack of emphasis on customer and client needs led to the breakdown.
The simple fact is that we live in a changing world. The Darwinian theory of having to change in order to survive continues to ring true. Banks and financial services firms have learned this lesson the hard way—through fines, reputational damage and in some cases, having to close their doors.
This pandemic of high-risk attitudes towards winning at the expense of customers has to be cured. In the case of Barclay’s, the answer to restoring the bank’s reputation lays in comprehensive change, according to the news article.
So how can banks make these much-needed changes? The answer exists in two parts.
- Ethics must change throughout the financial services industry, with everyone from the highest C-level executives, to IT help desk technicians ensuring they do. Responsible, transparent behavior needs to be the order of the day. This is by no means going to take place overnight; it will be part of an ongoing journey that all employees must undertake.
- Part of the answer lays in flexible, adaptable and manageable financial services IT solutions that provide the governance, monitoring and reporting capabilities needed from top to bottom. To do this properly, banks need to invest in deploying rules-based technology that can provide the deliverables sought.
Ultimately, good ethics or IT capabilities can’t deliver the sweeping sea of change needed in the financial services industry alone. They must be put into place together. The top-down instilment of ethical behavior must be supported by the thorough governance, monitoring and reporting capability of sound financial services IT solutions. The twain will simply have to meet.
It’s a given that Managed File Transfer (MFT) transfers files. But what exactly makes it stand out from other file transfer solutions? For one, MFT supports the highest levels of governance, compliance and security. That’s why a growing number of companies are turning to MFT. Businesses simply can’t afford to lose data these days, and MFT ensures data gets into the right hands—and stays out of the wrong ones.
“MFT solutions deliver reliable capabilities to address file transfer across internal A2A, B2B and cloud environments, while providing centralized governance for file transfers across these environments,” according to a Gartner analysis1 of MFT.
A complete MFT suite features services that support management policies, governance processes, coordination and reliable file transfer. Along with workflow automation, provisioning and technological adaptability, MFT enables:
- File security through integration with other solutions to manage risk, access and authentication
- Governance monitoring through data, message, file and transaction tracking capabilities
- File transfer visibility into transactions, the people involved, and crucial processes and systems
- Reporting and auditing features that collect file transfer data to provide a complete audit trail
To bring MFT out of the abstract and into the real world, we’ve created an infographic to help explain it. Once you’ve viewed it, visit our MFT Resource Center to learn more.
1 What MFT Is, and How It Applies to You © 2011 Gartner, Inc. and/or its affiliates. All rights reserved.
Security and Business Continuity dictate a multi channel strategy for Financial Institutions. So we’ve taken another step towards ensuring financial transaction security. We’re pleased to announce the Society for Worldwide Interbank Financial Telecommunications (SWIFT) has awarded us two key SWIFTNet 7.0 qualifications.
What exactly does this mean? It means the SEEBURGER Business Integration Suite (BIS) has proven it can perform secure data transmission using both FileAct communication protocol variants. This means our customers can rest easy knowing the BIS platform complies with SWIFT’s strict requirements for securely exchanging financial data.
“These initial qualifications demonstrate our ability to meet SWIFT’s stringent requirements, our commitment to the financial services sector and our intention to equip customers in the sector with the tools they need to solve their business integration challenges,” said Derek Schwartz, SEEBURGER senior VP of financial services.
With these qualifications, financial service organizations using the secure SWIFT network to exchange financial data can use our platform to handle all FileAct traffic and perform other value-added operations. Read the press release to learn more and then visit our website for information on financial services software solutions.
It’s in our nature to assume we’re immune—that bad stuff only happens to other people.
We tell ourselves that yes, texting and driving is dangerous, but we’re really good drivers so we’re fine. Yes, eating a high-fat diet can cause heart attacks, but those things only happen to other people. Sometimes data breaches happen, and businesses lose millions of dollars and their reputation. But that won’t happen to us. We’re careful and don’t share anything important online anyway.
But do your people really know how to keep things private? Research suggests they probably don’t, as analysts say nearly half of all security breaches are caused by employees and business partners. Are you absolutely, 100 percent positive there isn’t anything on the free Web file sharing service you use sometimes that you wouldn’t want the whole world to see?
A new Network World Magazine article, Combating Security Breaches with Managed File Transfer Technology, takes a hard look at some recent security breaches and the technology that helps prevent breaches from ever happening. Read the article today to learn more—then visit our managed file transfer solution center for white papers, case studies and more.
As banks face a growing number of costly incidents, it begs the question, why? According to a recent BBC News article and our own experience—the answer lies somewhere between an overdependence on antiquated code, complex line-of-business and geographical variations, mass mergers and acquisitions, tighter SLAs and changes in data transfer patterns.
Testing alone won’t be enough to fix the problems the industry faces. As analyst Lev Lesokhin told BBC News, “Modern computer systems are so complicated you would need to perform more tests than there are stars in the sky to be 100 percent sure there were no problems in the system.”
The solution rests in a consolidated, secure communications suite. For example, SEEBURGER Business Integration Suite simplifies the complexity of connecting diverse groups of customers, regulators, market infrastructures and stakeholders. The suite also delivers processes that enable end-to-end integration to the legacy systems most banking organizations currently utilize.
Along with innovations focused on migration, supporting vendor confidence and eliminating complexity, SEEBURGER Business Integration Suite can also play a key role in meeting the regulatory requirements set forth by Dodd Frank and Basel III. Visit our SEEBURGER financial industry solution center to learn more about what we offer organizations in the financial services sector.
Security and risk professionals get it. CIOs get it. CEOs get it. The potential costs that a loss of data can cause are staggering. News reports every year remind us of the clear-cut financial and reputation damage that data loss has caused some organizations.
So we know the dangers — but what can we do? A new playbook from analyst firm Forrester provides valuable insights into both the current state of data security and what can be done to move organizations forward to securing, well, data security of course.
Read the full report today, it’s on us. Then visit our MFT Solution Center to discover the market’s first single, integrated system for ensuring sensitive files (even the ones of mammoth proportions) are secure, visible, and compliant with governance and regulatory requirements.