The year gone by was an extraordinarily daunting year for corporations globally. The COVID-19 pandemic resulted in the global economy remaining at a standstill for a considerable period. During these volatile times, remote work has become a necessity for businesses. The management of organizations has raised legitimate problems, mainly related to data protection and access management, with a significant percentage of corporations’ workers operating remotely.
Remote Work Is The New Reality
The goal of allowing remote access was a desire for productivity and versatility prior to COVID-19. For years, for forward-thinking organizations, remote access has been of great benefit. Corporations are in ‘survival mode’ after COVID-19 and have no choice but to open up their most fragile financial transactions and access to sensitive information and hope for the best. The chances of performing transactions that lead to financial losses are enormous in a remote work environment. Such a scenario requires a stringent data protection policy and suitable data security solutions in order to ensure business continuity.
Lack Of Visibility Is A Critical Challenge
In these turbulent times, the situation that corporations face is critical. The lack of visibility into user actions and the resulting absence of actionable information lead to a precarious situation. This is particularly true for legacy ERP systems.
Legacy Systems’ Poor ERP Visibility
Conventional ERP logging and analytics focus on troubleshooting errors and scanning the system for significant vulnerabilities. Companies somehow deal with these legacy systems in their daily affairs because these systems are not designed to scan for and understand user behavior, access to data, and its usage. Legacy ERP visibility does not achieve the function of ensuring that data is not maliciously manipulated, exfiltrated, or that business processes are not exploited. For organizations that have to adhere to many regulatory requirements relating to data protection and security of personal data, these are critical priorities.
Organizations that leverage Single Sign-On and Multi-Factor Authentication (MFA) have the potential to ensure data security and comply with mandatory data privacy guidelines as mandated by data privacy legislation. However, from intrusion prevention to incident response and risk management, the focus of organizations has changed. Although they can ensure successful user authentication, they lack the ability to understand what kind of user activity has taken place in minute detail. And, more importantly, whether user behavior patterns are suggestive of any malicious activity.
ERP Analytics: A Valuable Resource
ERP Analytics is becoming important here. With legacy ERP systems, when ERP access is both remote and omnipresent, the ability to detect and respond to malicious activity is drastically reduced.
Data security and analytics tools help companies understand exactly how, and by whom, what, where, and when their ERP data is accessed. Companies are highly empowered to detect malicious behavior with granular exposure and devise a swift response before the harm becomes catastrophic. The actionable insights offered by these resources make it possible for companies to follow a timely incident response plan.
Data security and analytics tools with the granular visibility and optimal control they provide ensure complete peace of mind for enterprises. They provide critical and actionable insight into user behavior. This is particularly relevant if there are significant financial transactions, and confidential information is accessed beyond the office network.