In today’s digital landscape, security is important for a business to protect from virtual disasters. Cyber-attacks are increasing rapidly and plaguing businesses of all sizes.
About 20% of small businesses have reported cyber-attack cases and incurred losses from these breaches. The costs are directly or indirectly related to the attacks and break down to an average of $21,000. Roughly 82% of these ransomware attacks are targeted toward small businesses.
Businesses must prioritize the security of their assets from these cybercrimes to protect their sensitive data. Microsoft Dynamics 365 Business Central offers extensive security features for small businesses to safeguard their important assets against various threats. The software requires no installation or integration since all needed is a compatible web browser and an internet connection, eliminating the cost of upgrades. The suite allows businesses to work with their data from any location and device while automating the process to increase productivity. The implementation costs are favorable, and the pricing is transparent to allow clients to easily add it to their budget.
The Threat of Ransomware Attacks
Ransomware is a malware attack that encrypts files and sensitive data, making the information inaccessible and holding it for ransom. The attacker asks for payment to decrypt the data and restore user access. Ransom payments are costly and deal huge losses to businesses. A ransomware attack also cripples website functions, user applications, and customer support tools, disrupting business operations: hence businesses need to find solutions to mitigate attack risk and evaluate their preparedness for potential attacks.
The U.S. Department of Homeland Security has resources and tools that help businesses evaluate their cyber security status. Other software and tools, like anti-malware software and cloud services, are available to protect your data.
Why Move Your System to the Cloud?
Implementing a cloud ERP system in your business has vast security benefits. Here are some advantages that the system offers:
Built-in Security Features
Data is the most important asset in a business because it is critical for decision-making, and a cloud ERP system helps to protect that asset. The system distributes your data across several remote servers to reduce single points of failure by establishing redundancies.
Automatic Updates and Patches
An ERP system has automatic upgrades that ensure the software functionality is up to date. ERP providers identify and address security vulnerabilities with patches to prevent potential threats.
Remote Access Controls
A cloud-based ERP system improves the mobility of business services since you can provide information access to customers, contractors, vendors, and employees wherever they are. The software ensures you have access to business data in the field, increasing productivity.
Disaster Recovery and Backup
A cloud ERP system protects business data by regularly backing applications, operating systems, and files, ensuring your services and systems are secure in case of an attack.
Advantages of Cloud Computing
A cloud-based system makes it easier to grow your business because it is easier to add or remove features as you go. You are not reliant on physical hardware; hence business expansion is easier.
Dynamics 365 Business Central
The platform provides small businesses with a security model that ensures data integrity and privacy and allows for efficient collaboration and information access. The system has many security layers that help to restrict user access to data by arranging it in a structured way which helps prevent potential data breaches. Compared to other ERP systems like NetSuite, it has similar features and functionality since they aim to provide users with flexible solutions for their needs.
How To Prevent Ransomware Attacks With Dynamics 365 Business Central
The Dynamics 365 Business Central has integrated and automated solutions that protect your data, devices, and applications against cyber threats. The system detects and blocks potential threats through behavioral analysis and ensures real-time protection from ransomware attacks.
Performing regular data backups ensures your data is secure and safe from loss. The ERP system will perform regular software updates and security patches to ensure it is up-to-date and equipped to detect ransomware attacks.
Real-Life Cloud Security Success Story
LV Swiss Inc, a leading provider of Computer Numerical Control (CNC) Machining services, successfully tackled a ransomware attack and achieved enhanced security through its seamless transition to TMC’s Azure Cloud (TAC) solution. This strategic move marks the organization’s initial stride towards a comprehensive Digital Transformation journey. With the adoption of TAC, LV Swiss now enjoys an array of robust security measures, including a secure private virtual machine, effortless backup and disaster recovery, and state-of-the-art security services powered by Microsoft. Leveraging TAC, LV Swiss has effectively mitigated concerns pertaining to physical server security and significantly reduced compliance risks with the advanced controls offered by Microsoft Azure.
In their pursuit of further security measures, LV Swiss is actively planning to host Microsoft 365 and replace their current Dynamics GP with Dynamics Business Central. This forward-thinking approach will enable LV Swiss to capitalize on the additional security enhancements and features offered by Dynamics Business Central, aligning their business operations with the highest standards of data protection and risk management.
Conclusion
The Microsoft Dynamics 365 Business Central protects your business against cyber-attacks and safeguards sensitive data by offering advanced security features. Every business should prioritize cyber security and data protection to avoid financial losses and prevent losing customer trust.
Technology Management Concepts is a trusted Microsoft partner offering the Microsoft Dynamics portfolio, including the 365 Business Central. Our experts can help you integrate cloud solutions into your business to increase productivity. Contact us today to learn more about our services.
