Data security is a critical problem, and business leaders are increasingly called on to help improve cybersecurity and detect threats. When switching from on-premise to cloud ERP, it’s essential to note that cloud ERP systems come with adequate security measures. And then, additional security and exposure controls would need to be implemented by corporations. 74 percent of respondents had data protection concerns in a new survey, and 53 percent said they had data privacy issues and data loss problems.
Ensuring Cloud ERP Security: Some Proven Strategies
A breach of data can impact company activities and have disastrous implications for the company. A few approaches related to cloud ERP data security include the following:
Developing A Security And Governance Strategy
Involve executives and all workers in building a framework for data governance and determining security standards. Cloud ERP systems integrate enterprise-wide data, so it is likely that several departments may be able to access confidential data. In order to drive growth and innovation, improved data access is needed, but restricting data access is not the solution; improved data security and governance are. Predictive analytics can help you detect and quickly address security threats.
Installation of Updates
When a threat or vulnerability is discovered by ERP providers, they repair it in the form of a security patch or software update. In order to protect ERP data from potential attacks, software updates are important. Cloud ERP providers often deliver security updates, and customers have the option to allow them to promptly patch the latest threats and vulnerabilities automatically. This is one of cloud ERP systems’ most significant advantages.
Ensuring IoT Security
Gartner estimates that at least 50 percent of enterprise applications in production will be IoT-enabled by 2024. IoT devices interact with other devices connected to the internet, making them prime targets for hackers searching for access to multiple sources of data. If you put in place reasonable measures for the protection of IoT devices, it would be best for you.
Cloud ERP offers minimal customization space but provides the ability to integrate several applications into a single cohesive system. Protecting these integrations is critical, so routine mapping of interfaces and APIs between ERP applications is recommended. Organizations must conduct routine security audits of cloud ERP settings to prevent hackers from deciphering the data and improve data encryption should they ever gain access to it.
Global Unified Access Management
Your Cloud ERP provider must allow you to globally manage access controls. Only approved users should be open to details across the enterprise. Unauthorized users are not allowed to access business-critical data by the RBAC+ABAC hybrid approach and Federated SSO to unified identity and access management.
Identity And Access Management (IAM) Capabilities
You have comprehensive control over deciding the correct access levels for users in your organization and revoking access when it is no more required. With a strong identity and access management framework in place, you can ensure that:
- Access to relevant data is only available to those users who are approved with enterprise-wide centralized identity management and federated single sign-on (SSO).
- Role-based access controls (RBAC) are in place to allow segregation of duty (SoD) and prevent unauthorized access to sensitive information at the same time.
- Context-specific permissions are allowed by attribute-based access controls (ABAC).
- Users only see data relating to their job-specific activities. Managers program work positions that map to data rights and job functions.
Stable and flexible multi-factor authentication (MFA) and access controls are in operation, including SSO, user provisioning, and capabilities for hybrid identity management.