ERP Security Risks in 2019: An Overview
ERP (Enterprise Resource Planning) is one of the fastest growing technologies in the information world. There are a lot of core processes such as finance, supply chain services, manufacturing, HR, inventory service and others that are needed to run a business. ERP is a business process management software that integrates all these processes into a single system. ERP ( Enterprise Resource Planning) is very vital for business in this digital era. But with digitization, cyber threats have increased a lot. Although there is no guarantee that you will be free form spyware, surely there are some things that you can always do to lower the risk. Read further to discover the best ERP security risks 2019.
Here is the list of top 5 Key ERP Security Risks 2019
1.) Never Ignore the Risk of Running Outdated
Not updating the software in the short term can be fine, but eventually, it can land you in big trouble. Hackers always have a new way to identify and attack vulnerabilities in any software. So, it is very important to keep your software updated. The reason is older software versions are not compatible with new products. This affects the servers and browsers which further leads to system crashes. Thus, keep installing the updates not only to introduce new features but to address the weakness identified in the software.
Quick Tip: Secure your business’ crucial information by using an automatic updater that will automatically update your software whenever a new update is available on the ERP platform.
2.) Innocent Mistakes can Cause Big Blunders
Lack of understanding and in-depth knowledge of internal processes can leave your business open to threats. Mostly the new hires in an organization do not have a complete knowledge of ERP system due to which there is increased security risks. Not intended or maliciously but the staff can provide a chance for hackers to attack the sensitive information easily. Hence, keep this ERP security risks 2019 in mind and take your business to an ultimate level.
Quick Tip:
- It is better to authorize only a few trusted staff members to carry out the ERP system processes.
- Make sure your business protocols are easily accessible to all your staff.
3.) Compliance is Necessary with Regulatory Standards
If your ERP system is storing some confidential information or credit card information, then it is a necessity for your ERP system to meet the security standard requirements. It is necessary to maintain secure passwords and track your data regularly to protect sensitive consumer information.
Quick Tip:
- Make sure the social security data and credit card numbers are heavily encrypted.
- Keep updating your ERP system to comply with essential regulations.
4.) Lockdown Access Rights
Full access rights is a big threat to businesses. It is necessary to keep track of who has access to what internally. No doubt that access rights depend on the requirements of the business but it is necessary to know the basics. Remember this ERP security risks 2019 and stay away from blunders.
Quick Tip:
- Maintain audit logs to track changes.
- Add authorizations to checklists for promotions or new hires.
5.) Avoid Data Risk
If your ERP system lacks the functionality that is needed to access, analyze and report data, it becomes a necessity to use external applications. When using external applications the data risk increases because some of the critical information is stored outside the main system. This information sometimes becomes challenging to control and locate. As a result, business data becomes more vulnerable to cyber threats.
Quick Tip:
- Upgrade your ERP system that has this functionality.
- Consider saving all the relevant data within an on-premise ERP system that has integrated applications.
Quick Review
- Keep yourself updated with the world of ERP and cybersecurity.
- Be aware of the security issues that may affect your business.
- Knowledgable software advisors can be of great help.
