Category Archives: Internet and Cybersecurity

ERP Software and Security: What to Know to Stay Protected

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It’s no secret that Enterprise Resource Planning (ERP) software plays a critical role in helping companies manage operations from accounting and inventory to human resources and customer relationships. But with all that valuable data in one system, ERP software becomes a prime target for cybercriminals.

If you’re using or considering an ERP system for your business, it’s not just about what it can do for your operations, it’s also about how well it protects your sensitive data from scams, breaches, and internal misuse.

Here’s what businesses need to know about ERP software and security, and the must-have features to protect your organization.

The Rising Threats to ERP Systems

ERP systems are attractive targets because they hold the “crown jewels” of a business – financial data, employee information, supplier details, customer records, and more. A single breach can lead to:

  • Financial loss from theft or fraud
  • Legal liabilities due to data privacy regulations
  • Operational disruption that halts business activities
  • Reputational damage that affects customer and partner trust

Common ERP security threats include:

  • Phishing attacks targeting user logins
  • Ransomware locking down access to ERP systems
  • Internal threats from disgruntled employees or poorly managed permissions
  • Unpatched vulnerabilities in outdated software
  • Fake or malicious plugins or third-party integrations

What to Look for in a Secure ERP System

When choosing or evaluating ERP software, here are essential security features and practices businesses should prioritize:

Role-Based Access Control (RBAC)

Ensure users only have access to the data and features necessary for their job. This minimizes exposure and reduces risk from internal threats or compromised accounts.

Multi-Factor Authentication (MFA)

Strong ERP systems should require MFA – especially for users accessing financial data or administrative settings. This extra layer significantly reduces unauthorized access.

Data Encryption (At Rest and In Transit)

Data should be encrypted both when stored in the database and when it’s transmitted across networks. Look for end-to-end encryption protocols.

Audit Logs and Activity Tracking

A secure ERP should log user activity and changes to data, providing an audit trail that helps identify suspicious behavior or errors.

Regular Software Updates and Patch Management

ERP vendors should actively maintain their systems, releasing updates that fix known security vulnerabilities. Make sure updates are applied promptly.

Secure Cloud Hosting (if applicable)

If your ERP is cloud-based, ensure the vendor uses reputable cloud infrastructure providers and complies with security certifications.

Backup and Disaster Recovery

Even with the best security, things can go wrong. Reliable backup and recovery options help restore operations quickly after an incident.

Third-Party Integration Controls

ERP systems often connect with other software (e.g., e-commerce platforms, payroll systems). These integrations must be secure and come from trusted sources.

How Businesses Can Protect Themselves

Security isn’t just the vendor’s responsibility. Your organization plays a big role in keeping your ERP system safe. Here’s what you can do:

  • Train your staff: Educate employees on phishing scams, strong passwords, and security best practices.
  • Limit admin privileges: Only a few trusted individuals should have full administrative access to the ERP.
  • Review user permissions regularly: Especially after employee role changes or departures.
  • Work with trusted vendors: Choose ERP providers with strong security track records and clear privacy policies.
  • Get cyber insurance: This can help mitigate financial losses in the event of a breach.

Red Flags: Signs of an ERP Scam or Unsafe System

Watch out for these warning signs when choosing or using ERP software:

  • Unrealistically low prices or “lifetime access” deals with no ongoing support
  • Lack of transparency about where and how data is stored
  • No mention of compliance with data security standards
  • Outdated user interface or slow response to support inquiries
  • Pushy sales tactics or reluctance to provide a demo or references

An ERP system can streamline your business and give you a major operational edge but it must be secure. Data breaches or scams can undo all your hard work. Investing in a secure, trustworthy ERP solution, and following smart internal practices, is one of the best moves a business can make.

Don’t just ask what an ERP can do for your business. Ask how it protects it, too.

To get started with AccountMate, you need to work closely with experienced ERP consultants who can guide you through the selection and implementation process, ensuring that your ERP system aligns with your business’s immediate needs and long-term vision.

Are you considering a new ERP system? Contact our experts! We have local solution providers who can help you navigate the process. Contact us now or call 707-774-7537 to talk to someone about your specific needs.

Securing Success: The Crucial Role of ERP Software Maintenance Plans

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Enterprise Resource Planning (ERP) software is a critical tool for businesses seeking streamlined operations, improved efficiency, and enhanced decision-making capabilities. However, the benefits of an ERP system can only be sustained with a well-defined and proactive maintenance plan in place. Here’s why maintaining an active ERP software maintenance plan is crucial to a business’s success:

Automatic Improvements

With an active maintenance plan, businesses ensure they receive automatic improvements to their ERP software. These improvements encompass software improvements, security patches, and overall system enhancements. Regular updates not only keep the system running smoothly but also address any vulnerabilities that may arise over time, contributing to a more secure and stable environment.

Access to New Features

An ERP software maintenance plan provides businesses with access to new features. As technology evolves, software developers continuously introduce innovative functionalities that can enhance business processes and keep organizations ahead of the competition. By staying on a maintenance plan, users can seamlessly integrate these new features into their existing ERP system, ensuring they remain at the forefront of technological advancements.

Full Upgrades, Including Specialized Features

Maintenance plans offer businesses the advantage of receiving full upgrades, encompassing specialized features tailored to meet evolving industry standards. For example, features like Click to Pay and fast credit card processing are often part of these upgrades, providing users with cutting-edge tools to optimize financial transactions and improve overall workflow efficiency.

Simplified Upgrade Process

Upgrading an ERP system without an active maintenance plan can be a cumbersome and costly process. With a maintenance plan, businesses can ensure a smoother transition during software upgrades. This proactive approach eliminates the complications associated with trying to secure maintenance after the ERP system has been launched, saving both time and resources.

Flexible Payment Options

Maintenance plans offer businesses flexibility in payment options. By including the maintenance plan in the original budget, organizations can avoid the hassle of figuring out how to incorporate maintenance costs later. Payment options for maintenance plans are often flexible, for example, AccountMate allows businesses to choose between monthly or quarterly payments, accommodating different financial preferences and budgeting needs.

Responsive Customer Service

Choosing an ERP provider that values customer service is crucial. AccountMate, for instance, offers “instance-based” support, responding faster and providing personalized assistance. Having a reliable support system ensures that businesses can resolve issues promptly and maintain optimal functionality.

An ERP software maintenance plan is not just an additional expense; it is an investment in the long-term success and efficiency of a business. It ensures that the ERP system remains up-to-date, secure, and equipped with the latest features, contributing to a competitive edge in the ever-evolving business landscape.

As you move forward in your ERP journey, it’s essential to work closely with experienced ERP consultants and vendors who can guide you through the selection and implementation process, ensuring that your ERP system aligns with your business’s immediate needs and long-term vision.

Are you considering a new ERP system? Contact our experts! We have local solution providers who can help you navigate the process. Contact us now or call 707-774-7537 to talk to someone about your specific needs.

Navigating the Risks of Cloud-Based Accounting Software

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Cloud-based accounting software has revolutionized the way businesses manage their financial data and streamline accounting processes. The convenience and accessibility offered by Software as a Service (SaaS) solutions have made them increasingly popular among organizations of all sizes. However, like any technology, cloud-based accounting software comes with inherent risks that businesses must be aware of and address to ensure the security and integrity of their financial information. In this article, we will explore some of the potential risks associated with cloud-based accounting software and strategies to mitigate them effectively.

Data Security and Privacy

The primary concern when using cloud-based accounting software is the security of sensitive financial data. Storing financial information on remote servers maintained by third-party vendors raises questions about data privacy, protection against cyber threats, and unauthorized access. A data breach could lead to financial losses, reputational damage, and potential legal liabilities for the affected business.

Mitigation Strategy: Prioritize the selection of reputable and trusted cloud service providers that implement robust security measures, such as data encryption, multi-factor authentication, regular data backups, and compliance with industry standards and regulations (e.g., GDPR, HIPAA).

Downtime and Reliability

Reliance on cloud infrastructure means that a business’s access to accounting software is contingent on the vendor’s service availability. If the cloud service experiences prolonged downtime or outages, it can disrupt essential accounting operations and impact business continuity.

Mitigation Strategy: Conduct thorough research on the cloud service provider’s historical uptime and reliability. Additionally, consider having backup plans in place, such as contingency procedures or alternative access methods in case of temporary service disruptions.

Data Loss and Backup

While cloud-based accounting software providers often have reliable data backup systems in place, data loss incidents can still occur due to various reasons, including hardware failures, software glitches, or even human errors.

Mitigation Strategy: Implement a comprehensive data backup strategy, including regular data backups on both the cloud provider’s servers and locally. Regularly test data restoration processes to ensure data integrity and accessibility.

Vendor Lock-In

Businesses may face challenges when transitioning from one cloud accounting software to another due to data compatibility issues or contractual restrictions imposed by the vendor, leading to vendor lock-in.

Mitigation Strategy: Before committing to a cloud accounting software provider, thoroughly review the terms and conditions of the contract. Look for options that allow easy data migration and ensure that the vendor adheres to industry standards for data export.

Compliance and Regulations

Depending on the nature of the business and its geographical location, specific industry regulations and compliance standards may apply to financial data. Failing to meet these requirements could lead to severe consequences.

Mitigation Strategy: Choose a cloud-based accounting software provider that is compliant with relevant industry regulations and standards. Ensure that the provider is transparent about their compliance efforts and audit processes.

Internet Connectivity and Speed

Cloud-based accounting relies heavily on internet connectivity. A slow or unreliable internet connection can hinder productivity and cause frustration for users.

Mitigation Strategy: Invest in a reliable internet connection and consider backup options, such as mobile hotspots, to maintain connectivity during network disruptions.

Cloud-based accounting software offers numerous benefits, but it’s essential for businesses to be aware of the potential risks associated with its use. By understanding these risks and implementing appropriate mitigation strategies, companies can make informed decisions and ensure a smooth and secure experience with their cloud-based accounting solution. Regularly review and update security measures and stay informed about best practices to safeguard financial data in the ever-evolving digital landscape.

About AccountMate

Founded in 1984, AccountMate develops and markets fully modifiable business accounting software. Systems range from single user versions to those that support over hundreds of users simultaneously. AccountMate software is available for local or cloud installation. It is distributed exclusively through a worldwide channel of authorized solution providers. AccountMate can be reached at (800) 877-8896 or at accountmate.com.