How to Improve Data Security with Procurement Software
Data security is a top priority for companies, but it's not always easy to keep data secure.
There are many steps that you can take to improve your data security, and one of them is using procurement software.
Procurement software has many features that will help protect your company from cyberattacks, including access restrictions and encryption. It also allows you to implement policies that limit access based on the user's role within the organisation or departmental responsibilities.
Limit Access
The first step to securing your data is limiting access to it. Your procurement software should have some built-in procurement tools that will help you do this, such as role-based access control and multi-factor authentication. If you're using a third-party provider, they may also offer encryption options if needed.
Use Multi-Factor Authentication
To mitigate the risk of a security breach, you should implement multi-factor authentication (MFA) into your procurement software. MFA requires users to provide two or more forms of authentication. This means you can use something like a PIN code or fingerprint scan in addition to a username and password. You'll still need to enter your password when signing in, but then you'll be asked for the additional verification method before being allowed access. It's not impenetrable by any means, but it will prevent some attackers from accessing your account without first providing this second form of identification.
Use Data Loss Prevention Systems
Data loss prevention systems (DLP) are a type of security software that can be used to prevent data breaches and theft. They work by analysing the content of your data and checking it against a predefined list of "good" or "bad" items. For example, if you have a DLP system in place, you might configure it so that any email containing an attachment with the word “password” in its filename would be flagged as suspicious.
DLPs help to protect against both internal and external threats:
? Internal threats include employees who accidentally leak or steal company information when they open up an infected email attachment or click on a malicious link
? External threats include hackers who try to breach your network through brute force attacks (using multiple computers at once)
Implement a Data Classification Policy
Another way to boost data security through procurement software is by implementing a data classification policy for the business. To do this, follow the steps below:
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? Define what data is sensitive:
As with any policy, it's important to know who the policy is for and what it will affect. In this case, you need to define who can access sensitive data and how they're allowed to use it.
? Establish how sensitive data should be handled and disposed of:
There are many ways of doing this, but there are a few key principles that apply across industries. For example, don't store sensitive data on personal computers or mobile devices (unless it's necessary). If you must store information on portable devices, use encryption software to keep data safe and keep your antivirus software updated—this is crucial for protecting against ransomware attacks like WannaCry and Petya which encrypt files until victims pay up!
? Ensure proper security protocols when using third-party services:
Many third-party applications will offer file storage services that could potentially contain private information, so make sure there are proper security protocols in place.
Audit Privileged Users Regularly
A privileged user is anyone who has access to procurement software and can perform crucial tasks like changing prices or users' passwords. If a privileged user's account credentials are stolen, hackers could gain access to all of your company's data and manipulate it in any way they want.
The best way to prevent this type of breach is by auditing privileged users on a regular basis. This means monitoring their activity as they use the software and confirming that their actions align with what you expect them to be doing. An audit usually includes:
? Checking purchase orders or other documents that require signatures from multiple people.
? Review emails sent by administrators who have been given permission to change settings within the system.
? Examining logs (commonly referred to as audit trails) for suspicious activity.
Whether you are a business owner looking to improve data security or an IT professional implementing new systems in your organisation, you should be aware that procurement software can play an important role in protecting your business. While there is no substitute for proper training and vigilance when it comes to security, there are steps that can be taken using procurement software that will help protect data and increase data security.