Widely popular cloud storage provider Dropbox has announced the launch of a new service for large and small companies, practically formalizing its growing business focus. The new service, Dropbox for Business, is actually a revamp of the Dropbox for Teams initially released in 2011.

Dropbox for Business

The new name better reflects the company’s interest in expanding its reach in the business world. Even if it started as a consumer-focused data storage service, Dropbox has been gradually adopted by companies as well, due to its user friendly interface and secure file storage and sharing environment.

New features

Now targeting small and large enterprises as well, the service comes with a series of tools and features designed to make IT managers’ life a lot easier. One such feature is the single sign-on, which will allow employees to sign into their Dropbox using the same login information as for all the other company services.

This single sign-on feature is already used by many corporations, as it offers easier access to their services, without having to remember additional passwords. In developing the single sign-on, Dropbox has used the Security Assertion Markup Language, the open standard for authentication in the industry.

Any online data storage system of such scope will unavoidably trigger security concerns, especially when confidential corporate information and plans are at stake, but Dropbox for Business has managed to address these worries. The service promises to provide a safe file sharing environment for businesses by using a two-factor authentication measure (double password security requirement), along with SSL connectivity and advanced encryption methods.

Dropbox is already used by approximately 2 million businesses, with over 600 million files saved every week. But with the new features in place and offering 1TB of storage at an affordable rate of USD 795 a year, Dropbox for Business is set to become a serious competitor for any other business-oriented cloud storage providers in the immediate future.

[Image via Forbes]