What are some of the biggest challenges faced by enterprises in terms of adopting the ‘new normal’

 “Technology is a useful servant but a dangerous master.”

– Christian Louis Lange

Like any situation in life comes with pros and cons, adopting to digitisation has its own share of threats to entrepreneurs.

Similar to any other space in life, technology has its own benefits and challenges. While it enhances a man’s life in almost all the aspects whether its health care, transport, communication, smart cities etc. There are myriad challenges which we also need to keep in mind to not turn technology into our own enemy.

Amongst the most challenging threats of technology, cybercrime tops the list where danger is concerned.

Cybercriminals have always abused technology and control devices for propelling cyber-crimes such as frauds and thefts. With technology protocols, still being developed and evolving at a gradual pace, it is very difficult to avoid such cyber-attacks. IoT plays a pivotal role in shaping the future of technology in India. With IoT now becoming the backbone of various ventures, firms, organizations and even basic ways of living, it is worrying that the Indian Government has no dedicated law for IoT and some kind of guidance can be referred from the Information Technology Act, 2000 (IT Act, 2000). The Digital India initiative is driving our country towards a digitized life where the existence will highly depend on elements like cloud computing, 5G in telecom, e-Commerce etc. it is imperative to keep a check on loose ends.

What is cyberspace?

Cyberspace is an electronic world created by interconnected networks of information technology and the information on those networks.

What is cybersecurity?

Cybersecurity or information technology security is the techniques of protecting computers, networks, programs and data from unauthorized access or attacks that are aimed for exploitation.

Few challenges that  technology faces in cybersecurity are the following:

• Digital Data theft Threat: The growing online transactions generate bigger incentives for cybercriminals. Besides, establishments looking to mine data—for instance, customer information, results of product surveys, and generic market information—create treasured intellectual property that is in itself an attractive target.

• Supply Chain Inter-connection: The supply chains are increasingly interconnected. Companies are urging vendors and customers to join their networks. This makes a company’s security wall thin.

• Hacking: This action is penetrating into someone’s system in an unauthorized fashion to steal or destroy data, which has grown hundred fold in the past few years. The availability of information online makes it easier for even non-technical people to perform hacking.

• Phishing: The easiest to execute and produce the results with very little effort. It is the practice of sending out fake emails, text messages and creating websites to look like they’re from authentic companies. Phishing is a major threat that can lead to fraud.
• 
  

Solutions provided by Expand smERP  – India’s best-fit ERP software for growth-oriented MSMEs who are looking at running their business completely online.

These challenges can be under surveillance and methodical steps can be taken to avoid such malpractices. To solve the data theft problem, online space must regulate the use of data and clearly indicate when the information will be shared provided by the users. The user can then choose to opt-out, leaving personal information restricted to space for which it was deliberated.

When any software online contains bugs or viruses, it is fairly easy for cybercriminals to gain personal information. Large technology firms should collaborate and create solutions to increase security for their customers. Security controls need to move outward, beginning at the application level where such frauds can be caught easily by an ERP software. When there are no unified monitoring methods, firms become vulnerable. However, when every network has monitoring that detects changes, data can be protected.

With cloud ERP  hovering our lives with all our data it is imperative to protect our cloud space. With growing technology, the growth of cybercrime is evident but measures taken early and effectively can avoid cyber mishaps both big and small. Expand ERP software is perfectly equipped to counter such threats and protect your business from cybercrime.

Cyber threats

Cyber threats can be disaggregated, based on the perpetrators and their motives, into four: cyber espionage, cyber warfare, cyberterrorism, and cybercrime

 

• Cyber espionage: Intelligence gathering and data theft. Examples of this were Titan Rain and Moonlight Maze

• Cyberwarfare: It involves the actions by a nation-state or international organization to attack and attempt to damage another nation’s computers or information networks.

• Cyber terrorism: It is a premeditated, politically motivated attack against information, computer systems, computer programs, and data which results in violence

• Cybercrime: It is any criminal activity that involves a computer, networked device or a network

Besides Technology other means of stopping such cybercrime are:

• Human resource: Immediate attention has to be given to human resource development which would increase the number of experts who can effectively manage the cybersecurity of the country

• R&D: Investments should be made on R&D to develop more innovative technologies to address increasing cybersecurity threats

• Policy and Governance: It is important to bring a robust policy and effectively implement the same. Further, duties and responsibilities should be defined clearly for smooth functioning and better coordination among departments and stakeholders

• Awareness: A periodic awareness campaign by the government and big private organizations should be conducted to aware people about cybersecurity threats

• Strengthening Private Partnership: It is important to strengthen the public-private partnership on cybersecurity. It is important to define minimum security features for the hardware and software to be deployed in the government ecosystem.

There is an urgent need to build capabilities and capacity for application, equipment and infrastructure testing through the deployment lifecycle to detect any vulnerability and backdoors in the product/technology. Security Operations Centre should be developed for the government organizations with capabilities to detect, respond and recover from any breaches and attacks.

Expand smERP offers Expand SureShield where you can enjoy 100% data security and grow your business with complete peace of mind. Data is on the cloud, stored in multiple locations ensuring maximum safety with trusted technology platforms (Microsoft Azure, SQL Server). We provide 99.9% uptime and SSL (encrypted) Data Transmission.

Expand smERP software is well aware of all the challenges faced by entrepreneurs while digitisation and promises to support and back up for any such crime that may take place in your company. We promise innovation with integration and intelligence.

Book a free trial with us, call now at +91 9007026542