Cybersecurity solutions provider Onapsis ran research on the security of businesses using Enterprise Resource Planning (ERP) applications and found out that two-thirds of firms are at risk.
For the past two years, the use of ERP systems dominate commercial and industrial sectors, helping integrate data into one seamless system. These systems are used for inventory control, human resources, accounting, software, and procurement.
The EPR data system is proven to manage business operations by analyzing critical business information in one place. Despite the advantages of using this technology, threats such as data breach can expose critical information, leaving everyone at risk.
Onapsis was able to determine the percentage of businesses that suffered an ERP system data breach. According to the company, almost 64 percent of organizations with the ERP system suffered from a breach of SAP or Oracle E-Business Suite (EBS). Most of the sales data were exposed, about 50 percent, followed by human resources files and personal customer information.
According to Onapsis, the role of security teams in implementing ERP systems is crucial since applications are connected to the internet. This poses an alarm as hackers can easily access the system if not guarded with security walls.
Critical For Business
The Info Security reports that when an ERP data breach happens, it becomes critical for business operations of firms. It creates downtime for applications, increases risks for security compliance, and weakens the brand’s image and customer confidence.
“Cyber-miscreants seem to be indiscriminate when it comes to ERP systems, having an appetite for all types of data, which, if in the wrong hands, could be detrimental to the business in terms of revenue and reputation,” said Program Vice President Frank Dickson.
Dickson also added that some of the ERP controls are missing, which means cyber insurance companies can be denied of claims once a data breach takes place. “The information compromised most often according to this research is the highest regulated in today’s business ecosystem,” said Dickson.
About 50 percent of the companies using ERP system is upgrading due to outdated legacy controls, disparate applications, and risks linked to cybersecurity. Upgrading takes a lot of time, about 30 percent longer than estimated. Hence, if a bulk of data and other files are within the system, companies need to allot a considerable amount of time to upgrade the system.
Onapsis provides business applications such as ERP, CRM, PLM, HCM, SCM and BI engines.