M-Files and AIIM Reveals Frequency of Information Security Breaches

Respondents Point to Unsecured Network File Folders as the Biggest Vulnerability Point
Leading to Unauthorized Disclosure of Confidential Information

DALLAS, TX, August 17, 2016: M-Files Corporation, a provider of solutions that dramatically improve how businesses manage documents and other information, today announced the findings from a joint survey conducted with The Association for Information and Image Management (AIIM) that highlight the prevalence of information security breaches at most organizations.

The survey revealed that 38 percent of organizations have experienced one or more information security breaches within the past year. In addition, nearly one-third (31 percent) of respondents feel their organization does an inadequate job of protecting confidential and sensitive information. Coincidently, 36 percent noted that either their organization does not have a formally documented policy about how company information is stored, managed and shared – or that they didn’t know if such a policy existed.

The survey also indicates that many companies are taking proactive steps to address these information security breach issues. Nearly six out of ten (59 percent) respondents stated that their organization has implemented new information security solutions, systems and/or protocols within the past year.

“The prevalence of information security breaches can be seen as a direct result of having an ineffective information management strategy,” said Greg Milliken, vice president of marketing at M-Files Corporation. “It’s clear that businesses need better information management solutions to deliver the document control and security features required to protect confidential information, while still making it quick and easy for users to find the information they need.”

“Businesses of all sizes must take information security seriously, looking at the whole organization – people, process, governance, and technology – in order to better address their security and access control requirements,” says Bob Larrivee, Vice President and Chief Analyst of AIIM Market Research. “It is also important that the user community know and understand the importance of security, governance policies, and the role technology plays. Additionally, the technology must align with the security requirements of the organization, while at the same time providing an effective and intuitive way for users to access their information quickly and efficiently.”

Based on an online survey of AIIM members located in the US, Canada, EMEA and other parts of the world, the new study also yielded the following findings:

• While unsecured network file folders are where most respondents felt their company is most vulnerable to internal information security breaches, paper files (46 percent) and data exposed by personal file sharing apps (44 percent) were also noted as weak points.

• When asked about proactive steps their organization has taken to mitigate potential information security breaches:
o 62 percent said their company has created and communicated formal information governance policies to their employees.
o 59 percent have changed security and access rights to sensitive information.
o 47 percent have procured technology such as an EIM, ECM or document management system.

• For organizations that have a formally documented policy in place for how company information is stored, managed and shared:
o 76 percent said their company requires employees to read information management standard operating procedures (SOPs) to ensure they’re aware of the policy.
o 71 percent stated that their company uses an enterprise content management (ECM), EIM or document management system.
o 65 percent conduct formal training on management policies and procedures.

AIIM and M-Files are publishing the results of the survey in a series of articles, the first of which is Information Security: Checking the Locks.

About AIIM
AIIM has been an advocate and supporter of information professionals for 70 years. The association’s mission is to ensure that information professionals understand the current and future challenges of managing information assets in an era of social, mobile, cloud and big data. Founded in 1943, AIIM builds on a strong heritage of research and member service. Today, AIIM is a global, non-profit organization that provides independent research, education and certification programs to information professionals. AIIM represents the entire information management community, with programs and content for practitioners, technology suppliers, integrators and consultants. For more information, visit www.aiim.org.

About M-Files Corporation
M-Files enterprise information management (EIM) solutions eliminate information silos and provide quick and easy access to the right content from any core business system and device. M-Files achieves higher levels of user adoption resulting in faster ROI with a uniquely intuitive approach to EIM that is based on managing information by “what” it is versus “where” it’s stored. With flexible on-premises, cloud and hybrid deployment options, M-Files places the power of EIM in the hands of the business user and reduces demands on IT by enabling those closest to the business need to access and control content based on their requirements. Thousands of organizations in over 100 countries use the M-Files EIM system as a single platform for managing front office and back office business operations, which improves productivity and quality while ensuring compliance with industry regulations and standards, including companies such as SAS, Elekta and NBC Universal. For more information, visit www.m-files.com.

Peter Ellyard