In contemporary business world, more established fact is the ‘fast surpasses the slow’. The technological advancements of contemporary epoch has landed us in a pool of opportunities and conveniences. Today’s data driven digital world has made our lives more organized and simple. This is the age of instant transactions.
Cyber security is among the top challenges faced by many organizations, coupled with the digital transformation journey, which several companies are either undergoing or plan to undergo. As businesses expose themselves to evolving technology and digital ecosystems, they need to ensure that the risk exposure due to cyber is managed.
As per the famous quote by Paulo Coelho, “Every blessing ignored, becomes a curse.”
According to 2018 Thales Data Threat Report – Global edition 67% of the global enterprises are now being breached. Has the development of cloud technology and data accessibility, become a curse for us?
The latest news on data breach by Facebook boils down to one question- Is our existence and privacy so vulnerable?
Recently, Cambridge Analytica, a British data analytics firm, was held responsible for using personal data of Facebook users. As a result, the billions of Facebook users, who shared their personal data with the social networking site, are in dire state of uncertainty and anxiety. Operational since 2013, Cambridge Analytica initially came in limelight for assisting the presidential election campaign for U.S. president Donald trump.
At the beginning of 2014, Cambridge Analytica obtained data of 50 million Facebook users.
The data was gathered by an application developed by a British academic psychologist and data scientist Aleksandr Kogan. As per Facebook, more than 2 lakh people downloaded the application developed by Kogan and logged in with their Facebook credentials. According to both Cambridge Analytica and Facebook, the application collected their personal data and data about their friends, and then Kogan passed on the information to Cambridge Analytica. If Facebook would have been careful enough, as in, ‘whom to allow the access to obtain user’s data and whom not to’, the personal data of its users could be secured.
The above leaves us to ponder, if a social networking giant like Facebook couldn’t keep their customer data secure, then the risk is much higher for the small scale entrepreneurs or even the mid-level businesses.
Data is the foundation of any business, as it drives accurate analytics and better forecasts. Without it, no business operation can be efficient. Data security, is becoming the key matter of concern across the business world. Facebook data theft has brought all the data preservation and prevention methods into radar. Data security has now become a critical factor for enterprises, evaluating any kind of solution.
Indian organizations’ spend on cyber security forms over 10% of their IT budget and is growing at a (CAGR) compound annual growth rate of 13.5% annually.
India witnessed more than 27,000 cyber security threat incidents in the first half of 2017, according to Minister of State for Electronics and IT P.P Chaudhary’s reply in Rajya Sabha. Threats reported include phishing attacks, website intrusions and defacements or damages to data as well as ransom ware attacks.
An ERP is the central warehouse of all the organizational data from different operations of a business. It empowers a decision making capability of any business. Modern ERP solutions come with access control rights and restrictions that help in controlling data access. Who gets to ‘see what’, ‘approve what’, ‘oversee what’, set limits etc. All this can be easily defined.
For SMEs, ensuring security of data is challenging, as it requires investment in hardware, software and IT security experts. At this point, the cloud provider can offer higher-level security of user, unit of storage, unit of processing power etc. because they are dealing with bigger systems as well as many customers.
Here are top 5 benefits, of a cloud ERP solution:
- Integrity: An ERP solution reserves all the data under one umbrella. As a result, data management becomes easy. Access permission can be set wherever required, which makes data security easier and data leakage tougher.
- Accuracy: The security measures like access control in the ERP solutions not only secures your data, but also enhances the accuracy of data analytics.
- Access control: A good ERP solution can help in restricting access of employees. In an organization, it is evident that, ‘every process is not meant for everyone’. Role/ access of user can be configured as per business location/department/program. Special approval work flow can be created enabling special permissions in the workflow. When different legal units share single platform, special focus should be given to logical segregation of access, to avoid the risk of cross site access. .
- Mobility: Today, growing enterprises need quick access to the business data to stay ahead. Business On-The-Go solution is the need of the hour. A modern ERP solution, offers mobility, enabling the enterprises to take decisions anytime anywhere.
Building trust is not easy, ERP solution providers enhance their own customer and partner relationships by enhancing their security services. A complex application like ERP, also needs an intensive set up and management.
Modern ERP solutions like EPPS can easily manage high volumes of data and growing number of users. It ensure easy migration of existing customers from an old platform to a new one, seamlessly without any risks of data loss. The mobile app functionality allows for an uninterrupted workflow & facilitates better business decisions with up-to-date real-time data. EPPS provide data security via role based access control, which allows the users to set access for specific roles. Thus, data visibility and vulnerability, both can be effectively controlled, leading a secured platform, for your business insights. EPPS ERP also allows you to customize your ERP for achieving new quality and security measures.
We understand the importance of your data. Our robust ERP platform, helps to ensure the safety of your most precious asset, your data! Protecting your past, safeguarding your present and securing your future.
Click here for a FREE exclusive demo of our secure and integrated EPPS ERP.