How can you use third-party security providers to improve ERP system privacy?

1 Outsourced security expertise

One of the main advantages of using third-party security providers is that they can offer specialized and up-to-date knowledge and skills in ERP security. They can help you design, implement, and maintain a robust and compliant privacy framework for your ERP system, based on industry standards and best practices. They can also provide regular audits, assessments, and recommendations to improve your privacy posture and address any gaps or vulnerabilities.

3 Reduced security costs and risks

A third benefit of using third-party security providers is that they can help you reduce your security costs and risks associated with your ERP system privacy. By outsourcing your security functions, you can save on the expenses of hiring, training, and retaining in-house security staff, as well as investing in and maintaining security infrastructure and software. You can also transfer some of the liability and responsibility for your privacy compliance and performance to the third-party provider, who can assume the role of a data processor or controller.

4 Potential privacy challenges

However, using third-party security providers also comes with some potential privacy challenges that you need to be aware of and address. For instance, you need to ensure that the third-party provider has adequate and compatible privacy policies and practices that align with your own and meet the requirements of your industry and jurisdiction. You also need to establish clear and transparent contracts and agreements that define the scope, terms, and conditions of the security services and the data processing activities. Moreover, you need to maintain effective communication and collaboration with the third-party provider, as well as monitor and evaluate their privacy performance and outcomes.

5 Best practices for using third-party security providers

To use third-party security providers effectively and efficiently for your ERP system privacy, you need to follow some best practices. For example, you need to conduct a thorough and comprehensive privacy impact assessment (PIA) before engaging a third-party provider, to identify your privacy needs, goals, and risks. You also need to perform a careful and rigorous due diligence process to select a reputable and trustworthy third-party provider, who can demonstrate their privacy credentials and capabilities. Furthermore, you need to implement a strong and flexible governance framework to oversee and manage the relationship with the third-party provider, as well as ensure accountability and transparency for your privacy actions and outcomes.

Using third-party security providers can be a viable and valuable option to improve your ERP system privacy, as long as you consider the benefits and challenges, and follow the best practices. By doing so, you can leverage the expertise, tools, and technologies of the third-party provider, while reducing your security costs and risks, and enhancing your privacy compliance and performance.