What is ERP Security? Everything you need to know

Modern ERP security features evolve and get better with each passing day. One of the reasons for this is the fast growth of digital and cloud technologies. IDC says that by 2025, there will be more than 30 billion IoT devices, and that number will keep growing at a very fast rate. Many of these things are connected to companies’ Industrial Internet of Things (IIoT) networks. As such, they usually send data to a main ERP system.

Most businesses need a modern cloud ERP these days because it helps them run all their activities through one system. Its main strength may also be its weakness when it comes to security, as it gives you access to a lot of important data in one place. Today’s blog explores ERP security best practices and the steps that can be taken to strengthen ERP cyber security. So, continue reading to find out!

ERP Security – An Overview and Importance 

Enterprise Resource Planning (ERP) systems, including Oracle E-Business Suite (EBS) and SAP, function as the operational engine of a company, storing sensitive data and operating business-critical applications. However, notwithstanding their critical nature, these systems frequently encounter a cybersecurity vulnerability, remaining susceptible to both internal abuse and external threats. ERP security upgrade is frequently a challenge for organizations due to the following distinctive features:

– complex system architecture

– customized functionality

– a large number of integrations

– Lack of ERP security knowledge and processes

The magnitude and intricacy of the obligation to safeguard ERP systems may prove to be overpowering. ERP systems comprise a vast array of components, including:

– workflow and processes

– master data and a data warehouse

– large storage network

– computational infrastructure

The system shares information with hundreds of other IT applications both within and outside the organization. Many organizations lack the visibility necessary to comprehend what is occurring within their ERP system via these shared applications. ERP customers encounter challenges in remaining informed about security vulnerabilities, configurations, and upgrades due to the confluence of these factors. Unfortunately, this results in numerous organizations’ implementing and operating insecure ERP applications.

Here’s why ERP security is important:

Sensitive company data, including financial data, personal consumer data, and other confidential business information, is stored in the ERP system. Consequently, ensuring ERP’s security should consistently be your utmost priority. Sadly, cyberattacks are increasing in sophistication and frequency over time. In the current era, adversaries frequently target business management systems when carrying out these attacks with AI.

The consequences of this type of attack could be catastrophic for any organization. Data intrusion or unauthorized access to company accounts are examples of threats that could severely damage a company’s reputation and financial standing. Moreover, any third-party systems into which your ERP software is integrated may also be compromised, thereby halting all business operations.

Steps to Take for ERP Cyber Security 

Vulnerability Management Program

While traditional security solutions (vulnerability scanners and firewalls) are vital for protecting applications at the system level, they do not address the security of ERP apps. Using modern vulnerability management systems, security teams may gain comprehensive insight into every asset in the IT ecosystem, regardless of whether it is hosted locally, in the cloud, or both. It allows them to do a thorough inventory of all assets in their system, detect any hidden or previously documented weaknesses, and keep a detailed track of them all. These technologies can also provide detailed explanations. Vulnerability management capabilities can help security teams understand their attack surface by offering a holistic perspective of the enterprise’s threat environment, saving significant time, money, and resources that would otherwise be committed to less vital tasks.

Continuous Monitoring of Risks

ERP cyber security teams work to protect the application layer from vulnerabilities by deploying defense-in-depth solutions. The aim is to protect applications with many layers of security, as these layers prevent unauthorized access to critical systems. However, the team may not have insight into the possible misuse or exploitation of business-critical applications. Hence, businesses should adopt threat detection and response technology that allows for continuous monitoring of threat intelligence sources.

 Software Updates

ERP systems require regular updates. It keeps sensitive information from being revealed or stolen, as well as flaws from impacting the system. Ensuring system periodicity through software upgrades decreases the ERP’s vulnerability to external threats.

Code Protection

With traditional tools and methods, it can be difficult to ensure that teams create secure, high-quality code. The introduction of the code into the organizational environment adds a degree of complexity. Furthermore, enterprises need a way to guarantee that transport does not jeopardize performance, security, or compliance. Problems left unresolved in the transport and custom code used for application development, maintenance, and upgrades can disrupt corporate operations and inhibit the ongoing delivery of updates. By replacing these error-prone and time-consuming automatic remediation processes for common code faults with an application security testing solution, enterprises can integrate security into their development processes, allowing them to detect and rectify problems.

Threat Intelligence

Threat intelligence tools can provide significant information about the most recent exploits used by threat actors to harden pre-patches. They can also provide ERP cyber security teams involved with building and implementing security policies with actionable intelligence and early warnings about current ransomware attacks.

ERP Security Best Practices

The following best practices help you maximize the benefits and services related to cloud ERP security functions and features:

– Make sure that service level agreements are in place for disaster recovery and business continuity. Cloud-based solutions can help automate changes and centralize these agreements across several global organizations.

– Conduct external hyperscaler audits. These autonomous third-party assessments are critical for advancing projects like Cybersecurity Maturity Model Certification (CMMC) and Zero Trust, as well as assuring cross-business compliance at all stages.

– Prioritize project management, processes, and protocols, as well as data encryption, for all ERP security teams, specifically with reference to threat management, patch management, security configuration, and vulnerability scanning.

– Invest in external, world-class cybersecurity consultants like Arthur Lawrence. A consulting service ensures that every member of your team is well-informed about their obligations and duties in terms of risk reduction.

– Ensure that proactive security management and round-the-clock surveillance are in place throughout your firm to improve incident response capabilities. It includes any systems, devices, or IoT assets that an attacker might use to obtain access to your ERP.

– Implement a domain-based ERP testing strategy to ensure a uniform and replicable testing procedure.

Conclusion

In all business domains, ensuring optimum security is of the utmost importance; ERP systems are no different. ERP security best practices help you protect against cyber-attacks. When there is a breach in data security, businesses frequently incur substantial financial losses or face legal action, which exacerbates their distress. Enterprises encounter significant challenges in recovering from cyberattacks. Thus, ERP security becomes crucial. Reach out to us to learn how our expertise helps you fortify your cyber defense.