Panama Papers Scandal

Whether you are an accountant, an immigration consultant, a real estate agent, or any business that deals with sensitive customer data, it is your responsibility to keep all your data safe. However, you may be worrying about how to guard all your data. It is only a matter of time that you will have a data breach, whether it is caused by a hacker or unintentionally by you or your staff.

Since no one wants to cause the next Panama Papers scandal, there are many providers which/who offer platforms which allow customer information to be stored securely. This service is sufficient if you are not going to share this information with anyone else, or at least not frequently. The reality, however, is that your business depends immensely on handling information: process, store and share sensitive information, such as contracts, with customers and partners. Besides that, you are generating even more sensitive information when discussing these documents through other channels. Think of the conversations through email or online chat with your customers or partners on commercial agreements. Were these interactions done securely, and where are they stored? Therefore, any company thinking of using a secure file-sharing cloud solution is fulfilling its obligations to minimize their risk of leaking sensitive data. However, what if a file-sharing cloud SaaS solution exists which is not only secure but also offers you the possibility to collaborate with your customers and partners.

To help you choose the right File Sharing and Collaboration Cloud (FSCC) solution, we have compared a few of them based on two major dimensions: data protection and user experience (UX). We will also show how our solution, CrowdPie, scores compared to the other solutions.

Data protection and user experience

The first dimension, data protection, is utmost needed against the risk of losing or exposing sensitive information. We have only considered cloud providers that have promoted security. This dimension is measured based on various features, such as end-to-end encryption, password-protected sharing, data residency and security certifications.The second dimension is how user-friendly the SaaS solution is to share files and collaborate without compromising security. This dimension is measured based on features that enable you to use the software with ease, to preview documents online, to integrate with other applications, have workflow management, have project and file tracker and allow custom company branding.

Based on both dimensions, data protection and usability, an extensive competition analysis was conducted among different SaaS solutions such as Mega, Sync, FileCloud, Huddle, SmartFile. The scores on those two dimensions have been graphically represented for each FSCC SaaS solution in a quadrant (see figure). The Quadrant consists of four sections:

  • Conventional: SaaS solutions in this section provide the lowest combination of data protection and UX.
  • Technical: SaaS solutions positioned in this section have given high importance to data security but are not very user-friendly.
  • Comprehensive: this section depicts the SaaS solutions which are more evolved in both dimensions i.e., they have the capacity to assure utmost security without having to sacrifice UX. They are more innovative and advanced solutions.
  • Ergonomic: SaaS solutions positioned here have a convenient user interface that is appealing to most clients, but they lack sufficient control for data protection.

A Quadrant to Compare File Sharing and Collaboration Cloud Solutions

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It appears that the majority of SaaS solutions in 2019 reside in the "Technical" section, with Sync in the lead. This means that most providers are aware of the importance of data protection, but do not necessarily make their solution compelling for the customers to use it. Take Mega, for example; it scores well for data protection but less for UX. This is because compared to other solutions, it doesn’t offer features such as collaboration options, integration with MS Office, time tracking and workflow management.

Looking at the champions in user experience, we see that Sharefile and FileCloud are topping the list in 2019, closely followed by Huddle. FileCloud is significantly leading in user experience, but at the cost of data protection when compared to Mega and Sync. It seems that instead of achieving utmost security, the service providers are struggling to offer effective usability features. For instance, if a platform wants to provide seamless integration with a third-party service provider or invite others to access your files without password protection or online editing, data security will be impacted. On the other hand, many still use SFTP as a secure way to send files, but it is unlikely that your partners or customers would appreciate this SaaS solution given the limited user experience.

Taking all dimensions and features into account, most FSCC providers belong to the "Technical" section. This implies that FSCC service providers are primarily aiming at high data security and then try to find a correct blend between data protection and usability.

In the “Comprehensive” quadrant, we have also depicted the new solution of CrowdPie that will be released in the first quarter of 2020. Significant efforts have been put into this solution to offer a superior balance between data protection and user experience. CrowdPie has all the bells and whistles to give customers the best user experience, including workflow, collaboration, time tracking, document viewers without compromising security. It will be the only solution that ensures end-to-end encryption (zero-knowledge), data residency and is security certified. Therefore, no one, not even the providers or any government, can access your files.

Overall, if you have to make a choice today to select a File Sharing and Collaboration solution the options are Mega, Sync, CrowdPie 2019 and FileCloud. However, to experience the best in class solution, await the release of CrowdPie in 2020!

For any questions please contact us on Contact@Crowdpie.com