ERP News

Why security should be a priority for an ERP ecosystem

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In May of this year, organisations across the globe were hit by a malicious ransomware attack that left over 230,000 systems in a state of chaos, with hackers demanding ransom for systems to be returned to normal.

With up to 70,000 devices across 74 countries affected, the NHS was arguably the most widely reported in the UK with MRI scanners, medical storage fridges and operating theatre equipment taken out of action.

Unfortunately, the ‘WannaCry’ attack is not a standalone incident and the media is constantly plagued with stories of businesses that have been hacked or fallen victim to cyber crime. As these kind of attacks become more frequent, CTOs and CIOs continue to examine their current systems and prioritise security.

A need for awareness

With the security of the cloud, internet of things and big data all taking centre stage, the security of an organisation’s ERP system is often overlooked despite presenting significant vulnerabilities.

For example, in May 2015 it was reported that a flaw in US Investigations Service’s (a contractor in charge of conducting federal background checks) SAP system had led to the company being breached back in 2013 with hackers obtaining the data of over 27,000 employees.

Furthermore, a recent study by US firm, ERPScan, found that 89% of those asked expect to see cyber attacks against ERP systems increase with the average cost of a breach costing $5 million. Within the same study, 44% said that they monitored their system’s security but 14% alarmingly said they never analyse the security of their ERP systems.

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