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Submitted by Suzanne Scanlan on 16 November 2020

Cloud ERP and Cybersecurity

As technology advances, so do cyber criminals. The damage related to cybercrime is projected to hit $10.5 trillion annually by 2025, according to Cybersecurity Ventures. To avoid this fate, you need to learn how to keep your cloud-based ERP secure.

The Cloud: Opportunity and Risk 

cloud-based ERP system offers many advantages, from ease of implementation to updated functionality to cost savings. With a cloud-based ERP, getting up and running has never been easier or more cost-effective because there’s no longer a need to invest in the upfront cost of buying a server and other hardware. For these reasons and many more, it makes smart business sense to move to the cloud.

However, with opportunity comes risk. Many organizations see the move to the cloud as uncontrolled exposure that opens them up to huge risk—but a solid security plan can mitigate that risk and allow you to take advantage of all the benefits the cloud has to offer. With some forethought, you can be safe in the cloud. As a best practice, it is imperative to have basic security procedures in place to prevent, mitigate, and monitor for security incidents.

Create A Security Checklist

Security consists of many elements, from network and user security to data protection and user privacy. At a basic level, your company should have firewalls, antivirus systems, and a systemic checklist that includes:

Managing access. Manage users, privileges, and clients, with strong identity and access controls and fraud prevention.

Protecting data. Protect databases, workloads, and other content. This includes training your employees about cybercrime and how to avoid ransomware attacks.

Monitoring Systems. Watch for anomalies, threats, and activities through real-time threat intelligence.

Create A Response Plan

It is also very important to create a cyberattack response plan. Not every organization will be affected in the same way, just as not every cyberattack is the same. However, your response plan should address the following:

  • Job assignments for specific individuals within the organizations
  • When to call the authorities
  • A prepared response, prewritten for social and other media outlets
  • A system to provide regular updates to customers, vendors, and the public
  • Details on how you will contain the incident
  • Details on how to recover

Cyberattacks are not going away, so planning for them on your part is essential. If you’re prepared, you can minimize the threat to your organization and thrive in the rapidly expanding cloud-based ERP world.

For more information on cybersecurity, cloud-based ERP, and general ERP information, subscribe to the ArcherPoint blog, the ArcherPoint YouTube channel, and our email communications.
 

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