File security start-up FinalCode just announced the release of FinalCode 5, which looks set to give established vendors like Dropbox and Box a good run for their money.

The new release comes with more than 50 new enterprise upgrades, including a new graphic interface. It also offers encryption and usage permissions either on-demand or as an element of corporate policy.

All About Security

The new release is designed to protect files wherever they go. It can work work inside or independent of the products of other file share vendors to secure files when they leave the enterprise.

Its focus is entirely on security. Because FinalCode manages file security — and not storage, transport or content management — the scalable approach integrates with a company’s existing file management and cloud collaboration infrastructure.

It can also be deployed according to project, department and business application needs and includes file-based information rights management (IRM) for external users.

San Jose, Calif.-based FinalCode, uses technology that was developed in Japan in 2010 by Digital Arts, which develops information security software based on web filtering

In 2014, FinalCode was established to bring the technology to the US operating as an independent company, but with money from Digital Arts. Its goal is to protect enterprises from data leaks.

Online Collaboration Pain

According to Scott Gordon, Chief Operating Officer of FinalCode, the release of this version is a response to the continued investment in online collaboration software by businesses who are looking for a competitive edge in their respective markets.

“It’s clear that in order to not be left vulnerable to data exposure and liability, businesses must invoke strong file security controls with impeding file sharing workflow in order to stem the tide of data leakage that continues to occur,” Gordon told CMSWire.

"This new version does this by providing greater usability, granular control and interoperability functions, which makes it easier and faster for enterprises to strengthen their data governance over files that are shared inside and outside the company."

FinalCode 5 file security settings

In addition, FinalCode 5 encryption and usage control remains in place wherever a file travels so that ultimately, the platform administrator decides who, where and when a file can be opened.

FinalCode 5 is not the only system that can do that, so what differentiates it from the likes of Box and Dropbox?

Beyond The Firewall

"With other vendors, access controls to files within corporate network resources and cloud repositories are well secure. The problem occurs once a user takes files outside the protected confines of the enterprise repository or removes them from the local cloud container,” Gordon said.

“At that point, security provisions diminish or are completely lost. By offering file security management and not file storage, distribution and content management, we provide a solution that provides persistent file security across all file sharing mechanisms, both internally and externally, which is complementary to ECM and  other applications.”

The growth in interest in these kinds of solutions is being driven by data breaches and changes in regulatory regimes that make file security more and more difficult.

This is particularly true now with the rise of Bring Your Own Collaboration (BYOC) strategies, where users share files employing sanctioned and unsanctioned applications.

According to the EMA Research’s 2015 State of File Collaboration Security report on File Collaboration Security, 50 percent of enterprises experienced frequent file data leakage incidents over the past 12 months.

Of all those impacted, 91 percent of respondents stated the lack of protection of files leaving cloud-based platforms or device containers as the highest risk to adopting cloud file storage, content management and collaboration systems.

With this release now under its belt, the company is also expanding its partner program to allow its solution greater exposure to organizations across financial services, manufacturing, engineering, construction, healthcare, government, professional services and retail industries.

It is also expanding relationships with leading computer-aided design, security and cloud content management technology vendors.

The FinalCode platform is generally available as a SaaS or as an on-premises virtual appliance.