Ever since the pandemic has driven businesses worldwide to re-imagine their daily operations and future plans, we’ve seen huge strides towards new digital initiatives—one being implementing or upgrading file transfer systems. Although choosing a new file transfer system might not be the most exciting business decision you’ll ever make, upgrading your system can unlock huge benefits throughout your organization. But how do you determine when your business is due for a better file transfer system?
In this blog post, we’ll share a couple of ways you can evaluate your current file transfer system so you can be sure that your technology can get your business where you want it to.
Successful businesses are able to adapt to changing circumstances, with digital experiences and solutions no doubt exploding due to the worldwide pandemic. However, these changes have also driven an increase in cyberattacks such as hacking, data breaches, video- and teleconference hijacking, fraud, and more. According to Safe At Last, malware statistics from the third quarter of 2020 show that the average ransom payment was $233,817, marking a 31% increase from the second quarter and a 47.8% increase from the first quarter of the year. Gartner has also reported that worldwide spending on cybersecurity is going to reach $133.7 billion in 2022.
So with cybersecurity risks and costs projected only to go up, how can a file transfer system protect your business from increasingly advanced and elaborate attacks?
By having the right file transfer system, you can effectively protect your business and customers from cyber attacks. Regardless of your company’s size or industry, your business transmits computer files through communication channels from computer system to computer system. That’s why it’s crucial to ensure that this exchange and delivery of data is secure and compliant. File transfer systems can achieve this by encrypting your data or requiring electronic signatures.
Even if you have the most secure file transfer system ever in existence, it may be useless if the process is complicated. Many times, employees and even customers get fed up with difficult file transfer systems, disregarding any risk or compliance requirements and going straight to email. This can have huge consequences on your business: according to Influencive, researchers from Stanford University and a top cybersecurity organization found that approximately 88% of all data breaches are caused by an employee mistake.
So how can you protect your business from human errors? The ideal file transfer system should make it a breeze for employees to file documents, manage them, and retrieve them—whether they’re working from the office, home, or the road. An ideal file transfer system should also empower collaboration among your employees and even with your customers, driving home the need to both easily and securely transfer documents.
Many file transfer systems are “sharing” technologies, which is a common way to send and receive files. In essence, two parties must be on the same file transfer system at the same time so they can simultaneously exchange data, documents, transactions, uploads, downloads, and more. Although this is a collaborative environment, a “sharing” technology requires that the end-users use a variety of things such as a pin, password, login, application, software, and more—all to join that “sharing” environment.
However, several companies are moving away from outdated “sharing” technologies to file transfer systems that are newer “sending” technologies. In this environment, only one party needs to be on the system, rather than both. This allows the file transfer system user to push, pull, chat, sign, and more without imposing something foreign, such as a pin, password, or account, upon the other party.
It’s no surprise that creating an outstanding customer experience is critical to a business’s success. According to Forbes, 74% of consumers are at least somewhat likely to buy based on experiences alone, showing that customers prioritize experiences above price or product. Furthermore, the same study reports that 77% consider a business’s customer experience to be just as important as the quality of its products or services.
So how can your file transfer system help craft a seamless customer experience that will drive customers to your business, time and time again?
The right file transfer system can help your business effectively remove friction from the customer experience. Friction is simply anything that hinders a lead from completing the customer journey. Common examples include uninformed sales staff, a difficult-to-navigate website, and a long wait time on services—the last of which can be easily fixed by an efficient file transfer system.
Imagine this: you’re a customer who needs to sign a simple loan document. But before you can do that, you need to create an account with a username and complex password, receive a verification code through your email, and then create three security questions. No fun, right?
With the right file transfer system, however, you can get rid of complicated touchpoints in the customer experience. The ideal file transfer system will make it as easy as possible for consumers to simply pay for your services or products, as well as work on a variety of interfaces such as mobile, browser, and email.
These two questions may seem simple, but they’re an effective way to evaluate your current file transfer system and determine whether it’s time for an upgrade. A powerful file transfer system can do so much more than transfer files, bringing benefits to various parts of your organization.
Botdoc is the first ever easy, remote, and secure file transport service that works via text messaging and email with end-to-end encryption. Our solution is always simple to use because the consumer experience is everything to us. With Botdoc, you’ll close transactions at least 50% faster with no pins, no passwords, no logins, no accounts, no apps, and no software to download.
To get started today, simply schedule a demo and we’ll discuss how the secure “FedEx” of data can help you better manage your bottom line.