How an ERP Can Protect Your Business From Security Risks and Threats

Data breaches are on the rise, with the Identity Theft Research Center reporting 14% more security breaches in the first quarter of 2022 than in the first quarter of 2021. Health care institutions, financial service firms, manufacturers, and utility companies are top targets for hackers, but any business is at risk. With phishing, ransomware, and malware all prevalent, businesses can feel helpless when working to protect themselves and their customers. Enterprise resource planning (ERP) software can be a powerful weapon against business cyber threats.

ERPs Can Replace Many Different Programs

The more programs a business runs provide more entry points for a hacker to exploit. Publishers, like Microsoft, design ERP to integrate different business functions into a single system. A business with an ERP doesn't need separate programs for accounting, payroll, supply chain, services, and inventory management, as this software can do it all.  Businesses don't just run more smoothly on a single system, they're also safer.

ERPs Often Sit in Secure Cloud-Based Environments

ERPs often sit in cloud-based environments, so users can access them from any location that has Internet access. This is ideal for remote workers and employees in large companies with several locations. While cloud-based environments are convenient, some businesses feel nervous about handing control over to a third party. However, reputable companies offering cloud ERP and storage have more rigorous security features than most businesses have on-site.

The best cloud providers store copies of business data in multiple locations, so if one data center fails, there are several accessible backups. Frequent, automated integrity checks monitor data, alerting businesses of any breaches quickly in order to minimize their impact. Amazon Web Services (AWS) is one of the most trusted names in cloud security, offering 99.999999999% durability. That means there's a one in 100 billion chance of losing data stored in an AWS environment. This assurance helps businesses feel confident using an ERP in an AWS environment.

User Authentication and Authorization Keeps Intruders Out

The best ERPs have user authentication and authorization features such as multi-factor and advanced authentication, that ensure only authorized people can access files. Administrators grant access to authorized employees that lets them use only the parts of the software relevant to their roles. Once employees leave the company, the administrator can revoke their access with just a few clicks. This ERP security system reduces the risk of outside hacking and threats from within the organization.

ERP Is Constantly Improving

The most reputable software companies work continuously to serve their users better. While new features are among the flashiest updates, ERP protection improvements are among the most critical. Software makers understand that hackers are becoming more sophisticated, so they continually strengthen their ERP to outsmart them. Roughly 70.5% of businesses run outdated software. Installing the latest updates in a timely manner helps businesses stay ahead of the curve and reduces their risk of attacks.

Many ERPs have built-in security features, but some are lacking, so it's vital that businesses do their research. Exploring the security features of reputable ERPs like Acumatica can help businesses find software that fills both their planning and security needs.