The importance of ERP cybersecurity cannot be underestimated. In today’s world, with the increase in online and mobile interactions, the opportunities for cyber-attacks are growing rapidly. Unfortunately, these attacks can result in data breaches that not only affect businesses but also individuals and governments.
It’s alarming to see that if this trend continues, McKinsey predicts that the damage caused by cyber-attacks could reach a staggering $10.5 trillion annually by 2025. This represents a 300 percent increase from the levels seen in 2015.
The UK government’s Cyber Security Breaches Survey, a research study for UK cyber resilience has found some worrying statistics across the last three waves of its survey, where some areas of cyber hygiene have seen a consistent decline among businesses:
- Use of password policies (79% in 2021, vs. 70% in 2023)
- Use of network firewalls (78% in 2021 vs. 66% in 2023)
- Restricting admin rights (75% in 2021, vs. 67% in 2023)
- Policies to apply software security updates within 14 days (43% in 2021, vs. 31% in 2023)
In this article, we’ll discuss some ERP protection tips to ensure your business can maintain cybersecurity:
1. Update management instead of legacy software
Legacy ERP software is outdated software and does not get maintained by the original vendor. This means that there are no security updates, so over time the system becomes more vulnerable.
On the other hand, a modern ERP system is always up-to-date and proactive measures are taken to minimise vulnerabilities in software. It uses robust safeguards to prevent attackers from gaining access. These safeguards are regularly updated through updates.
By implementing a thorough update management process, you can ensure that all software, system components, and third-party applications used by your ERP system receive regular updates with the latest security included.
2. Authentication and authorisation
When it comes to cyber hygiene, authentication and authorisation go hand in hand. Authentication allows users to prove their eligibility to use the system, while authorisation determines which parts of the system they can access.
To ensure secure ERP user authentication, one of the simplest and most effective measures is to employ strong passwords and encryption. Encryption acts as a safeguard, protecting your data against hackers, malware, and other potential threats.
In addition, your ERP system should provide the capability to assign roles and permissions, enabling you to manage user authorisation effectively.
3. Advanced monitoring
A valuable approach to enhancing ERP user authentication/authorisation is to closely monitor and audit user activity. By doing so, you can promptly detect and prevent any suspicious or malicious behaviour.
Additionally, you have the option to implement cutting-edge monitoring tools like Security Information and Event Management (SIEM) solutions. These advanced systems can effectively identify any unusual activities and potential signs of vulnerability. By utilising real-time threat detection systems, you can swiftly detect any malicious behaviour and promptly take appropriate corrective measures.
4. Your people
Emails are a common source of entry, so delivering comprehensive cybersecurity training for your staff is crucial in protecting the organisation’s security. Emphasise the importance of ransomware awareness and social engineering techniques. Regularly conducting simulated phishing attacks will not only educate your employees but also enhance your organisation’s preparedness level.
5. Incident response plan
By implementing a strong incident response plan, you can proactively safeguard against security breaches. This involves developing and thoroughly testing a comprehensive plan that outlines procedures for notifying authorities, isolating infected systems, restoring from backups, and implementing necessary remediation measures. It’s important to ensure that you have the necessary resources and expertise to effectively handle any cyber-attacks. Remember to document all processes as part of your incident response planning.
Please bear in mind that no protection method can provide a 100% guarantee. Nevertheless, by implementing these security measures, you can greatly enhance the protection of your ERP system against cyber-attacks. By combining multiple protection methods and continuously adapting your security measures, you can bolster the resilience of your ERP system against evolving threats.
Security is a top priority when it comes to the design and development of Sage X3. That’s why security best practices are constantly adapted to keep up with the ever-changing industry standards. Through regular new releases and patches, Sage X3 remains updated and provides exceptional performance and security. Whether you prefer the convenience of the cloud or the control of an on-premises solution, Sage X3 has got you covered. Additionally, you can choose from a wide network of support partners, like Inixion, to cater to your specific needs.