Collaboration tools have quickly evolved from a nice-to-have feature in the business technology stack to an essential investment. These solutions give employees a convenient way to share ideas, files, and data and are becoming “work hubs” for hybrid and remote employees.
Today, virtually every business relies on solutions from the likes of Slack, RingCentral, Webex, Microsoft Teams, and Zoom to unify and synchronize their teams. These tools empower organizations to embrace the benefits of hybrid work and enhance communication on a core level. However, they also come with various security and compliance issues to consider.
Collaboration software opens the door to various communication methods (voice, video, SMS/text), all of which must be effectively monitored and managed to reduce risk. Fortunately, there are ways companies can boost the security of their collaboration system.
“When the pandemic struck, the first order of business was for organizations to ramp up and accelerate usage of modern unified communication platforms to be productive”, said Devin Redmond, CEO and co-founder of Theta Lake. He continued “We’re now seeing the rapid need to address existing compliance requirements and new security concerns as witnessed by the SEC and CFTC’s fines of more than 2B in the last year. As such, firms need to take a systematic approach to how they support this breakthrough in productive collaboration, while adhering to regulatory requirements and maintaining a secure posture and addressing potential security gaps”.
Step 1: Choose the Right Collaboration Software
The collaboration software market is currently toward an expected value of $56.67bn by 2030. As companies look forward to a more diverse “future of work,” collaboration tools have become a must-have part of any ecosystem.
Choosing the right collaboration software from day one should help businesses preserve their security. Many leading tools like Zoom, Webex, RingCentral, Slack and Microsoft Teams already have strong security components to assist companies. These platforms include end-to-end encryption, access management control, and multi-factor authentication.
When choosing the right ecosystem, business leaders need to focus on evaluating the security capabilities of each tool and how effectively these solutions adhere to their existing regulatory compliance and safety policies.