Saturday, January 29, 2022

Problems of data security when using only spreadsheets to manage your business

Despite its benefits and popularity among businesses worldwide, Spreadsheets are not always the best tool for the job — particularly for data-driven systems. The longer you depend on legacy tools, the more you risk your business to potential losses.

It has long been a target for hackers. All it takes is one person to open an attachment in an email and all your systems can become infected

Is my data hack-free? Is my business secured from unwanted users?

If this is a frequent question that haunts your mind, you are surely missing out on simple and secured ways to run your business.

3 Reasons why using only spreadsheets can put your data at risk

1. Spreadsheets are a security risk. 

While there are many alternatives for spreadsheets many organisations still consider them as a core component in their IT structure and admit they support critical parts of the businesses. Their omnipresence and familiarity mean that business leaders and employees are more than happy to keep working with them, even though they pose security risks for the business. Spreadsheet security is rarely on the radar of senior executives.

2. Spreadsheets develop with time  

Security is an issue as spreadsheets develop over time which means they are generally not exposed to the same controls and disciplines as planned IT projects. Most organisations administer good practises within their ERP environment such as applying segregation, identity and access management layers, yet lose that discipline while data is uploaded on spreadsheets.

Innumerable cases have made the headlines in recent years because of security risks in spreadsheets. This has at least focused organisations to develop proper procedures for spreadsheet development and policies and guidelines. However, threats posed by viruses, Trojans and unencrypted USB sticks are still prevalent and organisations must be vigilant. Security features such as password protection, hiding or protecting sheets and other features are not actually designed to secure information and can be easily bypassed. Even with such security measures, the threat of hacks is constant. 

3. Personal data is exposed

Personal devices that employees bring to work must also be considered for security protocols or businesses should maintain all data on local servers and allow remote access only to approved employees. Viruses are also widely transmitted by spoofing methods that include file names like unpaid Invoice, overdue Invoice Or similar terms in an email. These fishing approaches try to manipulate unsuspecting users to open the attachment.

Spreadsheet lacks encryption features for safeguarding sensitive data such as personally identifiable information (PII). Even if you add password-protection to your spreadsheets, the inherent security features make it easy for hackers to access your files. According to research spreadsheets, make up the most prevalent group of malicious file extensions in emails.

Is your Customer’s data at risk?

According to Research, 35% of users said data errors are common in the most crucial spreadsheets they use at work. In a world where data integrity directly translates to business reliability, why would you entrust your reputation to error-prone tools? 

A comprehensive and efficient ERP software can easily erase all threats of security and maintain confidentiality of your business data. Take care of your customer’s trust in you by taking care of their data.

To know more details contact us at +91 9007026542.

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ExpandERP Team