As one of the largest specialist providers of working capital solutions in Australia and New Zealand, Scottish Pacific Business Finance (SPBF) deals with more than 1700 clients across 8 offices worldwide.
Annually, SPBF handles more than $14 billion in invoices and provides more than $1 billion in funding to their clients. They share great rapport with their customers, with most acting as their ambassadors, and advocating their services to other companies.
After the acquisition of Bibby Financial Services’ (BFS) Australian and New Zealand offices in January 2016, SPBF had the daunting task of juggling between different systems of file transfer from the two companies. SPBF had to address this quickly, given the massive volumes of sensitive information passing through its systems daily. With the ever increasing threats towards the banking and finance industry – SPBF could not afford to have a data breach that might affect their customers negatively, ruining the rapport that they have built up over the years.
SPBF was looking to find a way to consolidate all these different methods of transferring files into one seamless and secure process. The new file transfer solution had to be intuitive, reliable, and secure, ensuring that the information being transferred is also in compliance with financial regulations in the countries they are operating in.
BFS had been using the award-winning MOVEit across their offices globally. During the consolidation process of the acquisition, SPBF decided to extend the use of MOVEit to all its eight offices. “With the different systems we had in place, the degree of human error due to the manual processes were high. But with MOVEit, we finally had a single tool that could deal with all the disparate systems. This made the processes much simpler for us and ensured that our data were always secure,” said Bruce Hort, the Applications Support Manager at SPBF.
SPBF deals with a lot of sensitive information, including credit scorings, which they have to regularly share with banks. However, file transfers from one system to another comes with its own set of risks. “Our systems contain large amounts of sensitive data protected by a firewall in our internal system, that requires authentication in order to access it. While the files are well protected within the system, they lacked the same protection while being transferred, increasing their vulnerabilities,” added Hort.
MOVEit helps the company ensure the exchange of critical data with external parties, delivering to the intended recipients safely while allowing SPBF to track its trail. Furthermore, MOVEit Automation streamlines the process further by enabling users to automate without requiring any programming knowledge. MOVEit Automation also comes with Pretty Good Privacy (PGP) security that simplifies encryption and decryption of the files, as well as ongoing key management.
Making everything simpler
The email alerts feature that directed the users to any problems that cropped up on the system was one of the key benefits. As SPBF’s clients utilise their services around the clock, the IT department must ensure that the systems are always up and running. The email alerts notifying them of any immediate issues help them save time which would otherwise be spent on searching and pinpointing the exact problem area manually.
MOVEit has also helped SPBF by reducing the steps involved in file transfer. “The focus of our business is the service to our clients, which means that any improvements that can be made to our business processes are highly welcomed,” Hort highlighted. “MOVEit does just that to speed up our business processes”.
Post-implementation: Ease of Use
MOVEit has made the internal processes at SPBF so much more convenient. In fact, there was no inertia when it came to incorporating the system into SPBF’s daily activities. MOVEit Automation allows employees across the globe to use the service daily without having to take any extra steps to ensure its security.
Setting-up and selecting the system was an easy task for SPBF thanks to DNA Connect, Ipswitch’s Authorised Partner in Australia and New Zealand. “Working with DNA Connect to incorporate MOVEit into our system has been so easy” according to Hort. “We haven’t had the need to contact DNA Connect till now as the system is so easy to use, and leveraging its benefits has been straightforward”.