As we enter the final months of 2017, it’s fair to day it’s been an unstable year for enterprise security. A recent study by BitSight found that in the last 15 months, around one out of every 20 Fortune 1000 companies had experienced a publicly disclosed breach. And despite these breaches, Fortune 1000 companies’ security performance has recently declined overall: 52 companies made an effort to improve its security, while 103 companies experienced rating drops from October 2016 to January 2017.
However, it’s not just the big players who get hacked, and adopting a policy of security through obscurity, i.e. “cyber attacks happen to other people, not me” is a dangerous path to take for small businesses.
Today’s modern business process management platforms such as ERP provide security which can safeguard mission critical data from external and internal threats. Here are five ways ERP can help secure your data, reputation and customer trust:
Secure your business from its centre: core business applications
A single integrated system results in more effective, more secure data access and data management. Because modern ERP systems are an ‘umbrella’ solution filled with a myriad of once transient software – accounting, HR, CRM, operations, and others, it’s easier to manage data security and access permissions when there’s just one door. A single system also limits data access to your employees. This ensures that only authorised employees can access data or other privileged company information, greatly reducing security risks across the board.
Role-based security is key
Why trust your ERP system? Because you can. A reliable ERP system lets you limit employee access to certain jobs and tasks in accordance with their roles and responsibilities in the organisation. It’s role-based security and it blocks access to functions and modules outside the perimeter of an individual’s role or position. It’s easy to define and implement role-based security measures in an ERP system that includes securing and encrypting passwords. Your ERP system also goes that extra mile and can also manage the security of third-party vendors and suppliers.
Cloud ERP is more secure
Today, it’s hard to imagine an organisation or an entity who could develop and build a more secure environment than that of the cloud. As Gartner said recently, “Multi-tenant services are not only highly resistant to attack, but are also a more secure starting point than most traditional in-house implementations.” Security today is a comprehensive, end-to-end mindset that has to be built across every layer of the ERP environment, from the physical network interface cards to the user passwords and a result, cloud ERP is more secure.
Improve your data accuracy
Your ERP system serves your company’s security requirements a lot more than just restricting access to roles. It helps improve the consistency, security and accuracy of mission-critical data. Today’s ERP systems have highly advanced permission protocols. This is important in preventing critical data from ending up in the wrong hands, while also maintaining appropriate access so that employees can rely on the system and do their jobs.
Cyberattacks are a threat to all businesses, no matter their size, scope or location, so we can’t under estimate the importance of best practice. A robust ERP system is the best way to secure your data, so long as it is managed properly. With that in mind, be relentless with user/admin permissions, monitor uploads and shadow IT, maintain good password hygiene and monitor and control partner portals. This should stand you in good stead against what may come our way next year.