For large enterprises, managing multiple file repositories across the company can lead to confusion, difficulty in maintaining accurate files, and time-consuming auditing processes. As such, FMS will transform the unorganized storage environment into a centralized control plane capable of supporting scalability and an API-first method of doing business. FMS will develop a Federated Governance Framework to provide a balanced approach to how each domain operates autonomously, while at the same time meeting the corporate requirements and guidelines. The system is built with Open-lineage capability which allows users to track file lineage and provide audit proof through robust events through audit trails. The storage layer is built with a pluggable abstraction that reduces TCO for companies’ use of multiple backend storage providers. There is a policy-specific language to manage legal hold and retention policies. The FMS system has realized significant ROI, including $33 million in the first year, a fast payback, and high performance while meeting compliance requirements across multiple storage backends. FMS will develop future versions of the product with capabilities such as blockchain technology for providing proof of deletion, artificial intelligence (AI) for automated tiering of data, and quantum-safe cryptography. Consequently, FMS enables organizations within regulated industries, like Financial Services and Healthcare, to position themselves as thought leaders and innovators of governance, thereby providing a competitive advantage and a solution to a $100 million-per-year governance crisis.