ERP Security-related Risks and their Solutions
Enterprise Resource Planning (ERP) is an important part of any enterprise be it a manufacturing business or a service industry. Any ERP system has several business tracks and modules which provide various functionalities to the business. Based on the type of business and its requirements, the ERP is structured accordingly. Using ERP has several benefits to the organization; such as,
- Efficient data sharing across the enterprise
- Ease in maintaining difficult and expensive integrations
- Improving common software interface of the system
- Gives total visibility and improved efficiency company wide
Although ERP is all about comprehensiveness and ease to carry out business operations, it comes with some set of risks. As per experts, here are some pointers about what types of ERP threats and risks, the users should be aware of.
- Outdated Software causes Crashes and Integration issues
This is a common risk that any company faces. Not keeping the ERP software updated leads to unsupported software issues, such as integration issues, crashes, affected servers and browsers, and so on. An outdated version of the software can be of no help in case the system crashes. Hence, the best way to avoid all of these issues is to upgrade to the newest version of the software and keep it constantly updated. If you find it difficult to constantly keep a track of updating your ERP software, then you can opt for automatic software update options. This will ensure that your software is always updated to the latest version.
- Lack of Compliance Compromises on Security
Compliance can lead to major security issues. Any system should have sufficient compliance norms to ensure that everything is working well. Lack of compliance standards can cause major harm to security norms causing the entire ERP system to go for a toss. Therefore, if your ERP system deals with confidential information then it is essential that the system complies to standard security requirements. The ERP system should comply with the necessary regulations. Following good practices and ensuring that the system password is changed from time to time is also a way to maintain system compliance.
- Access Permissions
Although most of the threats arise from an external source, it is important to keep an eye on the potential internal threat sources. It is crucial to analyze who has access to what in an organization. From time to time this analysis should be carried out to ensure that the access permissions are under control. For example, an IT person may necessary not require access to HR modules and vice-a-versa. Also, it is essential to look into which employees have the access permissions of making changes to the system. Monitoring this, will keep the system secure and protected from internal threats. Access permissions largely depend on the requirement of the business and its workforce, however, timely audits should be conducted to keep a check and track changes in the system. Adding authorizations also help to check for new hires, promotions, and any role changes within the organization. Sentri can automate the entire auditing process for any ERP to mitigate the risk of unauthorized access, Segregation of Duty (SoD) or Sensitive access
- Making the ERP Security System Trustworthy
Cloud ERP is gaining popularity. Any data fed into the system is stored on cloud ERP. This gives numerous benefits to the ERP system such as less work to the IT department, saves money for data storage, internal networks are less loaded. Despite various benefits that the cloud ERP offers, there is one major disadvantage that happens; trusting the security of the cloud storage. Businesses tend to place the responsibility of data security entirely on a third party cloud hosting service which can cause serious issues to the security of the ERP system. Hence, before opting for cloud ERP ensure that you choose a cloud provider carefully, observing closely their security processes and data regulations, Sentri can help secure client data by monitoring business/financial transactions, which is not authorized by appropriate individuals. Ask people around, take suggestions, read reviews and then decide from yourself whatever suits your needs the best.
- Authentication Process
Password hacking is a common form of concern for most of the organizations today. Although ERP systems have evolved and are capable of handling large chunks of varied data, they still remain vulnerable to hackers. As the ERP system is loaded with confidential and important data, it makes no sense to protect such an important entity with a single password, which can be traced, stolen or even guessed by experts. Here’s when a two-factor authentication will help. Two-factor authentication does not need an additional device. On entering the password, a code can be sent to the email address which will act as the second authentication factor. This will act as a full-proof plan for securing the ERP system as compared to the one-factor authentication used otherwise.
By maintaining a secure and safe ERP system, a high level of data consistency is preserved. This aids the businesses to grow, by keeping the staff and clients at peace, away from any security-related worries.
Sentri is a one-stop solution to all your IAG (Identity Access Governance), IRM (Integrated Risk Management) and GRC (Governance Risk Compliance) requirements. Our Intelligent Enterprise Identity Platforms are built to provide holistic data protection against data breaches, identity thefts, and financial frauds. We realize the value of a robust IT landscape, which acts as a strong spine for any business. To nurture the businesses, we offer path-breaking customizable access solutions that empower identity management, securing apps and data infrastructure for cloud and on-premise platforms.
For more information about our products and solutions, visit www.sentriapp.com