What Does the Future of Managed File Transfers Look Like?

Future of Managed File Transfer Software

Future of Managed File Transfer Software

The future of managed file transfer looks bright. According to some estimates, the global market for managed file transfer (MFT) software is growing at an annual rate of 10.2 percent and is expected to reach $3.12B by the end of 2030. The industry’s growth is concurrent with an increase in the number of regulations requiring security and privacy protections on consumer, financial, medical, and other sensitive data. As such protection grow more robust (and as the penalties for failing to comply grow more expensive), more and more companies are embracing the benefits of MFT software, such as the increased security and visibility during file transfers, automations that minimize the chance of human error, and the integral use of encryption and secure protocols like OpenPGP and SFTP to protect data at rest and in transit.

It also helps that secure managed file transfer software is a mature and trusted technology, easy to use, and a proven performer. These factors, along with a thriving global digital business ecosystem, are stimulating growth for MFT software worldwide.

You can view our webinar on the future of secure file transfer here.

Centralized Visibility for Secure File Transfers 

Coviant Software’s Diplomat MFT family of products is one of the platforms contributing to the market’s growth. Diplomat MFT is a high performing managed file transfer offering that gives our customers a full suite of features to securely, reliably, and automatically handle all of their file transfer needs. And we give you real-time visibility and an easy-to-use user and administrator interface. Diplomat MFT also includes features such as:

  • Easy workflow development, maintenance, and monitoring;
  • Full audits on all transfers and system configuration;
  • Delegated, role based administration;
  • File archiving and retention;
  • 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.

Are your file transfers ready for a post-Solar Winds breach world?
Diplomat MFT is the only MFT Vendor to fully support TLS 1.3.

A cost-effective investment in Diplomat MFT can alleviate worries of regulatory violations and potential monetary losses due to inadequate secure file transfer. It can also eliminate the burden of developing and maintaining your own scripts for handling OpenPGP encryption, encryption key management, and unreliable file transfers via SFTP.

Diplomat MFT centralizes the entire process and workflow for you. That’s why one of our customers said:

“Diplomat Managed File Transfer made it easy for us to eliminate custom scripts and automate our encryption and secure file transfer process. We have had fewer errors since using Diplomat and, if a file transfer problem does occur, we are alerted right away.”
   – Ferris Rezvani, Experian Interactive


Simple Data and CyberSecurity

It’s probably not a coincidence that the MFT market is on the rise when you consider that security breaches have increased by 11% since 2018, and 67% since 2014, according to Accenture. Organizations that suffer a breach often look to invest in products that they realize, in hindsight, could have prevented the loss in the first place. That’s why, in case of an issue occurring during the file transfer process, Diplomat MFT gives users complete control of their files.

With one click, users are able to suspend secure file transfers if a PGP key, secure FTP account, or other network components are compromised. In fact, in most cases Diplomat MFT is able to 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.

Engineered for Your Needs

Managed file transfer software is a useful and potent technology that continues to prove its value as the business world becomes more interconnected. 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.

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.

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