Why Your Data is Safest in a Cloud ERP System?

Information residing in ERP is the most crucial data of an organisation. Data security has become an industry-wide concern. CEOs and CTOs are continuously finding ways to protect data from hackers and attackers. What can be a probable solution? Read and explore.

Data security is a wide-spread concern today. According to research done by IBM and published in Economic Times in July 2022, global average cost of a data breach reached an all-time high of $4.35 million.

Source: https://cio.economictimes.indiatimes.com/news/digital-security/global-average-cost-of-a-data-breach-reached-an-all-time-high-of-4-35-million-report/93176118

The figure is daunting and is a great threat to businesses. Businesses must try and seek ways to reduce it. They must endeavour towards attaining high security to their sensitive data and processes. One of ways to achieve high security is using Cloud ERP. Among various options available, cloud ERP is the safest way of securing data. Let us find reasons and evaluate if we can justify the statement.

1. Inherit the most comprehensive data security control and compliance-

A cloud ERP system provides unparalleled, end-to-end data security. From authentication to data entry, to transferring, to protecting it in database. The data is encrypted as soon as it is entered. It only gets decrypted when suitable user accesses it.

Cloud based solutions are also designed to identify and immediately address security threats using tried-and-true methods, such as constant monitoring, frequent testing, and auditing. With monitoring and auditing, the cloud ERP vendor continuously fixes the probable system failure and proactively averts any similar situation in future, thus continuously taking it to a next, secured level.

Besides, Cloud ERP solution comes with some advanced security features like firewall testing across multiple layers, in-stream packet scanning, etc. Such security shields protect data up optimally and prevent data breach.

2. Your security in Expert Hands-??Cloud security solution is always backed by a large team of security experts, who are constantly updated with threats and security tools and procedures to offer uncompromised security. They are the best of the best experts in the field with unmatched experience, and thus, hiring them for an individual business is a costly affair.?But with cloud ERP software, their services come easy to businesses, ensuring better security and faster

3. Multi-layer protection – Cloud ERP secures your data by providing multi-layer protection. It includes protection against targeted attacks like distributed denial of service, firewalls that segment critical components, and ability to detect unusual activity and take immediate action. It offers physical security as well as network security.

In physical security various security measures are taken by the vendors, some of which are:

• Bio-metric protected data centres
• Guard -controlled access with mantrap technology
• Locked cage space
• Additional systems for physical intrusion monitoring, detection, and alerting

When it comes to network security, ERP vendor can offer various security controls like:

• Proactive patching of operating system
• Monitoring and automated logging of system activity and events
• Host-based antivirus and intrusion detection

Such a multi-layer security protects your data at on all-grounds.

4. Automatic updates- Cloud ERP deployment ensures automatic updates without manual approval or involvement. Quick and frequent updates ensure that any attempt of breaching the data is safeguarded with the latest and the most advanced features by meeting latest security requirement.

5. Safeguard from Denial of service (DoS)-Cloud ERP helps in great deal against denial-of-service attack. This attack takes place when a valid user is prevented from accessing ERP service by a hacker.?Such attack happens when too many superfluous requests sent by attacker flood and choke the system so that the original user request cannot be processed.

Cloud ERP solution operate through distributed data centres spread all over the world. It is obvious that many servers across the locations can not be flooded by superfluous requests simultaneously. Therefore, probability of such attack is minimized. On top of it, Cloud ERP system provider have dedicated experts to combat this insurgency, if at all it happens, ensuring such attack is dealt with before it creates harm to your business.

6. Data is not on device- Since data is not stored on a local system in Cloud ERP, the loss or malfunctioning of such device won’t impact your business adversely. No data is lost and hence there is no data retrieval process required, leading to uncompromised data integrity.?

7. Backups and Disaster recovery so you never lose anything – The data stored on a cloud are backed up at various servers, at multiple levels and at different frequency. It means that cloud ERP has distributed data service world-wide in very secured geographical locations, making it difficult for cybercriminals to identify data of a particular company for attack. Due to the spread of data centres, when one data centre experiences outage, the other data centres and servers provide support and help the system to handle workload and recover fast.

8. Build with highest standards that ensure compliance -Most cloud ERP system comply with most of the regulations. E.g., many cloud ERP are PSI and DSS compliant, keeping financial data safe. This compliance, besides providing data security, ensure the smooth running of your business.

Above reasons clearly state that Cloud ERP offers the best data security. But is it sufficient for businesses to implement cloud ERP for data security??A business must work together with cloud ERP to ensure ultimate safety of the data. There are many practices that a business at its own end, must follow to gain complete security. Some of these are:

1.?Controlled access- Business must identify roles of various users and offer role-based access in database. This will ensure that only those users who have concern with the data can access, read, or manipulate it.

2. Two factor authorization (2FA)- Business must follow 2 factor authorization to add a layer of security. Single authorization method is easy to approach. 2FA is like double lock, which is tough to breach.

3. Review integrations – Third party integration enhances functionality of ERP, but it poses security threats. Monitor integrations on regular basis and delete the one not in use or suspected.

When business and cloud ERP work cohesively, then only the critical data can be protected from breach. Any untied thread can fray the secured shield and make data vulnerable. Therefore, it is a collective responsibility of vendor and business to endeavour towards impregnable data security.

Along with providing data security and saving upfront IT hardware and IT staffing costs, cloud ERP provides you anytime-anywhere working facility. These are the reasons why most of the businesses are shifting towards cloud ERP. BatchMaster ERP provides secured, trusted, and robust cloud ERP for process manufacturers. If you are a process manufacturer and wish to inject the power of cloud ERP in your business, contact BatchMaster.