SMB Companies Use SAP Business One to Reduce the Risk of Increasing Cybersecurity Threats 

Last year, the pandemic thrust small and midsize businesses into an era of digitization that many were not yet prepared for. The shift to a remote workforce meant employees, and critical business data, were spread out across different locations and networks that were not necessarily as secure as an in-office environment. This led to a 80% increase in cybersecurity threats in 2020, with 61% of SMBs reporting at least one cyber attack. Nearly half (43%) of cyber threats targeting small business, and these companies do not typically have the resources necessary to mitigate these threats. 83% of SMBs are not financially prepared to recover from a cyber attack, and only 14% rate their ability to mitigate cyber risks as highly effective. Luckily, a cloud-hosted, enterprise grade Enterprise Resource Planning (ERP) system like SAP Business One can help SMBs secure their data and reduce the risk of cybersecurity threats. 

Enterprise-Level Infrastructure and Automated Security Fixes with Cloud ERP 

Cloud ERP systems allow companies to remain up-to-date with the latest security and bug patches, and these updates are handled by a third-party at no additional cost. Cloud systems also allow for a simplified disaster recovery plan with greater collaboration across multiple locations (including home offices) and lines of business. This is especially important for SMBs, since 75% do not have the personnel to address IT security internally. SAP Business One Cloud ERP enables SMBs to reduce cybersecurity threats. 

Reduced Human Error with Automation 

Human error and system failure account for 52% of data security breaches, and this problem has only worsened as SMBs have shift to remote work. SAP Business One automatically syncs data throughout your entire supply chain and across all your warehouse locations, eliminating human error due to manual data entry and reducing cybersecurity threats. Data is accurate and consistent across all devices and enables remote workers to access information from mobile devices while still maintaining the same security protocols by logging into the ERP application. 

Early Threat Detection with Increased Visibility 

A fully integrated ERP system like SAP Business One allows you to see all your business transactions and operational data in one single source of truth, so you can easily spot abnormalities. Complete, real-time visibility into your business operations and how your data is being accessed and used is incredibly important as SMBs are becoming increasingly digital and employees are working on multiple public networks. Automation can help speed up the process of identifying and resolving weak points in cybersecurity. 

Role-Based Security Across Devices 

34% of data breaches in 2020 involved internal actors and internal threats are even greater with an increasingly remote workforce. Legacy ERP systems lack the ability to authorize user privilege dynamically, meaning employees may have access to more sensitive data than is required for their role. SAP Business One allows SMBs to assign permissions and data access on a per-role basis. Managers can manage identities and users remotely and change access at any time, so employees only have access to the data they need to complete their role functions.  

Conclusion 

Cybersecurity is incredibly important for SMBs to consider throughout their digital transformation. This is especially apparent when operations are becoming increasingly remote and automated. Security breaches are incredibly costly, and the rising number of threats is affecting small and midsize business now more than ever. A modern, enterprise-level ERP system like SAP Business One allows SMBs to mitigate cybersecurity risks as they continue on their path to digitization.