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The Future of Managed File Transfer 2024

by | Dec 11, 2023

The Future of Managed File Transfer

Last year we were high on the future of managed file transfer. The market was growing better than 10% per year and projecting to eclipse $3 billion by the end of the decade. As one of the better-known players in managed file transfer (MFT), the stars were aligned and we were buckled in for the ride. What we didn’t see coming was a series of attacks targeting weaknesses in some other MFT products, including:

There were more events that occurred, and vulnerabilities found and patched. Threat actors and ransomware gangs seemed to target MFT platforms to take advantage of their role in accessing and moving data and found a few ways to do it. There’s been finger-pointing and accusations, but the fact is that software is made and installed by humans, and humans are known to be imperfect. Managed file transfer was merely the latest to be targeted.

Giving Secure Managed File Transfer a Second Look

And if there was a silver lining to the dark cloud that seemed to hover over MFT in 2023, it is that many organizations took the time to examine their MFT—and other software product—deployments, their digital supply chains, and their standard operating procedures where data movement and management is involved. Many processes and products that were long overlooked got a second look and associated policies were tightened. That is why we will stand on our pro-MFT soapbox again this year and, looking ahead to 2024, declare that the future of managed file transfer is still bright.

We’ve been having many conversations, sparked by those unfortunate events, with organizations looking for alternatives to their incumbent vendors or to displace their home-grown processes. We’ve talked with customers who are moving to standardize on our secure-by-design Diplomat MFT managed file transfer solution and mandate that their customers adopt our platform or a compatible secure MFT solution before they will allow them to transfer files to or from their own systems.

We also know that the future of managed file transfer is bright because it is a trusted and mature technology, and with continuing emphasis on data privacy and security, MFT only makes sense. Products like Diplomat MFT that are reliable, easy to use, and have what it takes to handle the load for the largest of enterprises are a natural fit for keeping files safe.

 Simple, Robust, Scalable, Automated

Coviant Software’s Diplomat MFT family of products get high marks from users because it has what they need to simplify file transfer automation, is easy for anyone (with authorization and credentials!) to use, and has the capacity to move what they need and with virtually unlimited concurrency. Here are some of the things our customers like:

  • Easy workflow development, maintenance, and monitoring;
  • Full audits on all transfers and system configuration;
  • Delegated, role based administration;
  • File archiving and retention;
  • Robust enterprise workflow scheduler; and,
  • Automatic job status alerts over chosen channels like email, Slack, and Teams.

These features are especially important for maintaining compliance with government regulations such as the California Consumer Privacy Act (CCPA), the EU’s General Data Protection Regulation (GDPR), HIPAA in the healthcare industry, and security standards like the Payment Card Industry Digital Security Standard (PCI-DSS). With more regulations expected, demand for MFT is certain to increase as organizations invest in the tools needed to protect financial and healthcare privacy, keep trade secrets secure, and avoid embarrassing data breaches.

What’s more, Diplomat MFT users can quickly suspend secure file transfers if a PGP key, secure FTP account, or other network component is compromised. In fact, in most cases Diplomat MFT can spot and correct technical problems, or automatically suspend the transfer until the problem is mitigated. This level of real-time visibility of all secure file transfer jobs enables organizations to correct transient problems by automatically troubleshooting and re-attempting failed steps, and quickly notify you if a complex problem occurs during the secure file transfer process.

Inbound file transfers from business partners are also under protection with Diplomat MFT because the software can also be deployed at your business partner’s site. Thus, separate solutions for PGP encryption and secure file transfer are not required. There is no need to run the risk of possibly having outbound ePHI files reside outside the firewall on transport servers, such as FTP, web, or email servers since Diplomat MFT can manage file transfers in both directions.

The Future of Managed File Transfer is Now

Managed file transfer software is a useful and potent technology that continues to prove its value as the business world becomes more interconnected. And you don’t have to wait for the future of managed file transfer; you get get what you need today. Diplomat MFT is engineered to meet your organization’s unique file transfer requirements, is easy to use, and is the best value in the industry. We’ve got the awards to prove it. And we continue to invest in innovation so that you can have confidence that, while other vendors languish in the past, Diplomat MFT is the future of managed file transfer.

But don’t just take our word for it. See for yourself and Try Diplomat Managed File Transfer for free. Or schedule a demo so we can show you how it can save you time and money, while increasing security. It’s never too late to join the MFT trend, but we think you’d rather do it to help prevent a breach rather than because you suffered one.