File Shares are Costly

Risks and Challenges Associated with File shares and Share Point

According to a Norton survey, 49% of Americans use electronic storage methods for storing confidential data, including PII and PHI. And with the cyberattacks growing at an annual rate of 15% leaves a large amount of sensitive data susceptible to malicious attacks. Some other risks and challenges with unmanaged file shares and SharePoint are:

• Security – A large number of files in a file share means a larger attack surface for cybercriminals.
• Privacy – With multiple files in the file shares and SharePoint containing sensitive information, GDRP, HIPPA, and CCPA, SEC-regulated companies risk penalties for violating data privacy compliance regulations.
• Slow response – The more data on a company file Share, the slower it responds.
• Lower productivity – According to Gartner, professionals spend 50% of their time searching for information and, on average, take 18 minutes to locate each document.

Collaborating online and file-sharing has become crucial since the pandemic. Businesses cannot function without these collaboration tools. Yet, each tool comes with its unique set of problems. A solution is desperately needed. If you want to learn how a major bank cleaned up 50,000 file shares in a year and how a major retailer got their compliance, legal and records teams on the same page to stop file growth, check out our webinar with MER Sapient here.

compliance data archiving data privacy information governance Information Management records management Sharepoint SharePoint Governance

Bivek Minj graduated from the Indian Institute of Mass Communication with a degree in English Journalism. He serves as a Content Writer at ZL Tech India's Marketing department. He comes to the industry with a desire to learn and grow.