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Table of Contents

• What is File Sync Software?
• The benefits of File Sync Software
• Typical features of File Sync Software
• The cost of File Sync Software
• Considerations when purchasing File Sync Software
• Relevant File Sync Software trends

What is File Sync Software?

File Sync Software is a platform where multiple users across different locations collaborate, share, and edit files simultaneously. The application syncs the changes made by a user on a document across all the available versions. This ensures that everyone has the recent version of the file, with updated data points even when they are working remotely in different locations.

The benefits of File Sync Software

Many businesses are using mobile phones for official work. Cloud-based applications and browser-based accessibility are furthering this trend. This makes file sync software a core requirement for businesses because it enhances collaboration and allows users to access files from anywhere, anytime. It also allows sharing files securely over the cloud.

The software offers various benefits, some of which are listed below:

• Better collaboration between teams: Emails are the most preferred way of sharing files across an organization. But emails have limitations in terms of attachment size and real-time sync capability. On the other hand, file sync software allows sharing files and folders of any size between users within and outside the organization. The software offers the freedom to share files by different modes such as direct attachment or shareable links.
• Access to most updated information: With file sync software, every user has the most recent version of the file, irrespective of the user’s location. Changes made by any stakeholder will be immediately visible to all stakeholders. They can even restore the previous version of the file in case they don’t accept the changes.

Typical features of File Sync Software

• Backup and recovery: Create multiple backups of files and folders as well as recover lost or deleted files.
• Real-time synchronization: Monitor files and folders for changes and sync all the versions in real time.
• Encryption: Encrypt the data that’s both at rest and in transit to protect and safeguard the information.
• Synchronization scheduling: Schedule synchronization for a fixed time and date.
• Audit trail: Maintain a sequential record of all the changes made in files and folders, along with the details such as the changes made, name, as well as the time and date.

The cost of File Sync Software

Most products in the market are priced on a “per month” basis, and can be divided into three pricing tiers based on their starting price.

Price ranges*:

• $0 - $2
• $2 - $9
• $9+

*The pricing included is for entry-level/lowest-priced offering that was found on vendor websites on April 20, 2019. These ranges correspond to the 25th, 75th, and 100th percentile of the pricing information gathered from vendor websites of sample products.

The above list summarizes pricing for the base plans of most products. An enterprise, or premium product, which is priced higher, may include some additional features such as unlimited storage and premium support.

Considerations when purchasing File Sync Software

• Data security standards: Once installed, file sync software can be used for almost every file, document, image, contract, and agreement you create and share internally or externally. However, before you purchase a solution, thoroughly evaluate its security standards and the service provider. Ensure that the software encrypts your data during transit and while at rest, especially if the files aren’t stored on your own server. We also recommend checking for additional security measures such as multifactor authentication and single sign-on.
• Ability to wipe out data remotely: Employees leaving the company or losing office equipment (laptops or mobile phones) generates a risk of theft or misuse of official data. We recommend opting for a solution with remote deleting ability so that you can remotely delete sensitive business files from employee devices.
• Compliance: Every business has to comply with various industry standards, which depend on the type of business operations, industry regulations, region of operation, and data security norms. When sending files on the internet, it’s necessary for the file sync software to comply with the regulatory standards that apply to your organization.

Relevant File Sync Software trends

• Artificial intelligence will improve indexing and searching: The challenge with a shared repository is that it gets cluttered soon because employees aren’t always regular in removing old docs or versions. Some vendors (Google and Box) are adding artificial intelligence (AI) capability to address this issue. Google’s AI will guess the files that users may be searching and offer suggestions to remove a version that hasn’t been accessed for a specified period of time. The tool learns user actions and offers recommendations for files as well as peers with whom users may want to collaborate. With such innovations proving fruitful, more vendors will add AI in their tool.
• Data security to be the deciding factor for small biz: With most applications being deployed on the cloud and data being stored on remote servers, even small businesses are expressing concerns over the security of their data. Based on Verizon’s Data Breach Investigation Report, more than 58% of malware attacks targeted small businesses in 2018. For this reason, they will check the compliance and safety measures offered by various vendors.