Organizations that use traditional on-site ERP applications such as SAP ECC and Oracle PeopleSoft face a rapidly transforming data collection, storage, and use environment. They deal with critical visibility gaps, particularly at a fine-grained level, related to understanding the access & use of ERP data. Apart from this, they need to meet mandatory guidelines as required by the number of compliance regulations such as GDPR, CCPA, etc. SAP and PeopleSoft security have, therefore, assumed tremendous importance for enterprises of all sizes.
Organizations that, under the exigencies of the current scenario of COVID-19 pandemic, allow remote and mobile access to their workers are compounding this lack of visibility, exposing them to a range of compliance and data protection risks, such as hacking (phishing), along with fraud and theft by internal users. This all can lead to a loss amounting to millions of dollars annually.
Fortunately, ERP applications can now get a significant boost by leveraging the most sophisticated logging and analytics technologies available on the market.
The Significance of Context of User Access and Data Usage
User behavior is always complex, often resulting in confidentiality breaches, fraud, theft, and business policy violations. In particular, there is a lack of specific knowledge about how, where, and by whom transactions and fields of data are accessed. This compounds the security woes of SAP and PeopleSoft.
Traditional on-site SAP and PeopleSoft systems, as they work today, do not provide enterprises with the granular knowledge and context of user access and data usage they need in real-time to make strategic decisions on time.
Organizations have been working with this lack of granular visibility for years now, and this status quo has been entirely unsustainable in view of the current challenges to ERP data Security. It’s just about knowing, at a highly granular level, who does what.
With the right data security solution, security and compliance leaders will be able to dig into specific access to data and know precisely who is doing what, when, and where. All incidents involving the red flag will undergo a rapid response plan with that degree of in-depth, contextual awareness.
The ideal data security solution should offer a systematic approach to this and include workable insights. Forensic investigations and time for recovery cost huge amounts of money to organizations. Such a solution would relieve much of the pressure.
Some Desirable Specifications
The ideal data security and analytics solution should offer the following capabilities:
Real-Time Security Threats Detection: It should alert you smartly to security threats such as hacking, phishing, privilege account misuse, etc. Thus, to essentially allow forensic investigations, you can get the information you need quickly.
Such a solution should help you recognize and respond to fraud, theft, and errors committed by employees and third parties (sellers, consultants, etc.).
Uncover Hidden Business Risks: Companies have full insight into company transactions that are sensitive and what users are doing.
Watch Employee Productivity: When users review business transactions and execute them, it should allow you to retain supervision. These results may be used to ensure sufficient and appropriate staffing and to recognize potential bottlenecks in critical operations, including HR, payroll, and finance. Superior Clarity on Data Access & Usage: Organizations can no longer rely on getting a lot of data. They need to start triangulating and creating context around the data they receive and how it is used.