11 Jan Complexity of file systems likely to change finance IT
While companies have implemented a variety of business performance solutions to improve corporate structures, security is not always the highest priority. This has become apparent in finance IT, where leaks and breaches continue to crop up, putting consumers and compliance in jeopardy.
That's why some experts feel 2013 will mark the rise of big data enterprises, computer solutions geared toward handling massive information volumes, yet still pushing for advanced file security systems. These two policies may seem contradictory – more security with higher storage transparency – but a variety of tools assist in building these kinds of solutions. Putting them into play may be the most difficult part.
Forrester Research announced its 2013 digital enterprise outlook, stating that big data will be among some of the most important initiatives for finance IT and other industries as well. The problem that many corporations will encounter will occur when these businesses realize that corporate file management needs to include every document within the company's direct control, and those online files associated with their firms which businesses are responsible for.
Information should not be defined by the resources companies use to contain it, Forrester wrote. Instead, organizations should think of these resources in a way that outlines where it resides, so that these tools can be networked into a single big data solution. This will allow firms to concoct superior file protection systems geared specifically toward where records reside, how they move and who needs to see them.
Merging red flags
Gartner agreed that these two elements of file management need to be primary concerns for corporate finance IT. Especially with the rise of more complex security threats and hacking capabilities, businesses need to be on top of their game in terms of engineering the best network structures and file tracking solutions. These kinds of tools will ensure that companies have watertight systems in place, keeping malicious entities out.
For the finance IT world, the rise of big data storage and security initiatives comes at a time when the rest of the digital landscape is gearing up for major battles online and in their own data centers. The New York Times reported that much of this movement is due to security experts analyzing recent threats and deducing the most likely scenarios that could have resulted in the successful execution of these attacks, leading to some startling conclusions.
An attack on major American banks in the last few weeks resulted in several of these entities losing critical data, the source reported. The sheer size and scale of the virus responsible for this attack, data experts theorize, had to be a nation-state, a group with enough power, money and access to entire server centers with the time to dedicate to engineering such an intricate and sweeping attack. What's more, unlike the main goal of these breaches, which is to steal money, this was a disruption and denial of service incident, pointing toward terrorism instead of theft or fraud.
"There's no doubt within the U.S. government that [another country] is behind these attacks," a former Commerce Department official told The New York Times.
Incidents like this should reinforce that finance IT needs to be closely guarded. A slip-up in this sector could result in major monetary losses and other negative continuity effects for businesses and the clients they serve.