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IT security trends in 2024

As much as we would like it, the number of cyber attacks will not be going down any time soon, on the contrary, companies must prepare for the fact that it can affect them anytime!  As change is constant in the technology market, the cybersecurity landscape is also dynamic and subject to rapid changes. Therefore, it’s required for companies to undertake and review their security action as a top priority along with focusing on their ability to check and secure their blind spots and strengthen their IT security. Below is the list of some general areas that have been important in recent years, and are continuing to be relevant in 2024:

Zero Trust Security Model: The Zero Trust approach, which assumes no trust within or outside the network, is likely to gain more prominence as organizations strive to enhance their security posture. At its core, Zero Trust is founded on the principle of never trusting and always verifying. Unlike traditional security models that rely on perimeter defenses, Zero Trust assumes that threats can originate from both external and internal sources. Every user, device, and application is treated as potentially untrusted, requiring continuous authentication and authorization. Zero Trust addresses the shortcomings of perimeter-based security, offering a more resilient and adaptive approach to protect sensitive data and systems. Several major companies have successfully implemented Zero Trust, showcasing its effectiveness in diverse industries.

 

Artificial Intelligence and Machine Learning in Security: AI and ML are being used to enhance threat detection and response capabilities. As attacks become more sophisticated, these technologies can help in identifying patterns and anomalies. and help improve the efficiency and effectiveness of cybersecurity efforts by automating tasks, detecting threats in real time, and providing proactive defense mechanisms against a wide range of security challenges.

 

IoT Security: Securing these devices requires a holistic approach that addresses both technical and operational aspects. As the number of connected devices continues to grow, ensuring robust IoT security measures is essential to protect users’ privacy and prevent potential disruptions caused by security breaches.

 

Ransomware Protection: Ransomware attacks have been a significant threat, and organizations will likely continue to invest in advanced measures to protect against and recover from ransomware incidents.

 

Identity and Access Management (IAM): Strengthening IAM controls will remain a focus area to ensure that only authorized individuals have access to sensitive data and systems.

 

Endpoint Security: As remote work becomes more common, securing endpoints (devices like laptops, smartphones, etc.) will be crucial to prevent security breaches.

 

Regulatory Compliance: As data protection regulations evolve, organizations will need to stay compliant with existing and new regulations, which may influence security strategies.

 

Remember that the field of cybersecurity is rapidly evolving,and new trends and technologies may emerge. Staying informed, adopting a proactive security posture, and continuously improving security measures are key components of an effective ransomware protection strategy.

 

From Raw Data to Profitable Insights: Tools and Strategies for Successful Data Monetization

Data monetization has become an increasingly important topic in the world of business and technology. As companies collect more and more data, they are realizing the potential value that this data holds. In fact, according to a report by 451 Research, the global market for data monetization is projected to reach $7.3 billion by 2022. This is achieved through various strategies such as selling raw or processed data, providing analytics services, or creating new products based on the data.

There are many different approaches to data monetization, each with its own unique benefits and challenges. However, many organizations struggle with how to effectively monetize their data assets. In order to effectively monetize data, businesses need the right tools and strategies in place. These tools help collect, analyze, and visualize data to uncover valuable insights that can be turned into profitable opportunities. Below is a short list of essential tools used for successful data monetization.

 

  • Data Collection Tools: The first step in data monetization is collecting relevant and accurate data. This requires efficient and effective data collection tools such as web scraping software, API integrations, IoT sensors, and customer feedback forms. These tools help gather large amounts of structured and unstructured data from various sources like websites, social media platforms, customer interactions, or even physical sensors.

 

  • Data Analytics Platforms: Analytics tools play a crucial role in making sense of complex datasets by identifying patterns and trends that would otherwise go unnoticed. By leveraging these platforms, businesses can gain valuable insights that can be used for decision-making processes. They provide powerful reporting dashboards that allow businesses to visualize their KPIs with interactive charts, graphs, or maps helping them understand how their products are performing in real-time.

 

  • Business Intelligence Tools: These are applications designed specifically for reporting and dashboarding purposes. They allow users to input raw or analyzed data from various sources and present it in a visually appealing manner through charts, graphs or maps.

 

  • Customer Relationship Management Systems: CRM systems are essential tools for gathering customer-related information such as demographics, purchase history or behavior patterns. By analyzing this data, businesses can better understand their customers and tailor their products or services to meet their specific needs.

 

  • Data Management Platforms: DMPs are software solutions that help businesses to store, and manage large volumes of data from different sources. They allow for the integration of various data types, such as first-party and third-party data, which can then be used to create targeted marketing campaigns. It also provides features such as real-time processing capabilities, automated workflows for cleansing and transforming data, ensuring accuracy and consistency.

 

  • Data Visualization Tools: Data visualization tools help businesses present data in a compelling and visually appealing manner, making it easier for decision-makers to understand complex information quickly. These tools provide interactive dashboards, charts, maps, and graphs that can be customized according to the needs of the business.

 

  • Artificial Intelligence & Machine Learning: AI & ML technologies can help organizations extract valuable insights from their data by identifying patterns, predicting trends, and automating processes. AI-powered chatbots also enable businesses to engage with customers in real-time, providing personalized recommendations and increasing customer satisfaction.

 

  • Cloud Computing: Cloud computing provides scalable storage and computing power necessary for processing large amounts of data quickly. It also offers cost-effective solutions for storing and managing data as businesses can pay only for the services they use while avoiding expensive infrastructure costs.

 

  • Demand-side platforms: DSP help organizations manage their digital advertising campaigns by targeting specific audiences based on their browsing behavior or interests. These platforms allow businesses to use their data to segment and target customers with personalized messaging, increasing the chances of conversion and revenue generation.

 

  • Monetization Platforms: Finally, businesses need a reliable monetization platform that helps them package and sell their data products to interested buyers easily.

Data is certainly more than you think! It’s a valuable resource that can be monetized across your organization. So get in touch with us and learn how data monetization can transform your business.

Finding the Ideal Cloud Mix for Your Business: Unveiling the Optimal Strategies

Picture this: you’re a business owner, navigating the vast landscape of technology and searching for the perfect cloud solutions to unlock your business’s full potential & bring your company forward. The world of cloud computing offers endless possibilities, but how do you find that ideal mix that fits all your business needs? In this blog post, we’ve gathered the optimal strategies for finding the ideal cloud mix for your business, where efficiency meets flexibility and scalability intertwines with security.

 

The best cloud mix for your business

When it comes to finding the best cloud mix for your business, there is no one-size-fits-all solution. Every company has unique needs and requirements that must be taken into consideration. The key is to find a balance between various cloud services that align with your specific goals.

 

One important factor to consider is scalability. As your business grows, you want a cloud mix that can easily scale up or down to accommodate changing demands. This means choosing providers who offer flexible resources and allow you to add/remove services as needed. Security should also be a top priority when selecting your cloud mix. It’s essential to partner with reputable providers who have robust security measures in place, such as encryption protocols and regular data backups.

 

Another crucial element is cost-effectiveness. While the benefits of the cloud are undeniable, it’s vital to choose services that fit within your budget without compromising on quality. Look for providers offering competitive pricing models and transparent billing practices.

Integration capabilities are also worth considering when building your ideal cloud mix. You want solutions that seamlessly integrate with existing systems and applications, allowing for smooth workflow transitions and minimizing disruption during implementation.

 

Don’t forget about support and reliability. Choose service providers known for their excellent customer support track record, ensuring prompt assistance whenever issues arise. Additionally, opt for reliable platforms with minimal downtime guarantees so you can keep operations running smoothly at all times.

By carefully evaluating these factors – scalability, security, cost-effectiveness, integration capabilities, support, and reliability – you can create a customized blend of cloud solutions tailored precisely to meet the unique needs of your business.

 

How to find the ideal cloud mix for your business

With the increasing popularity and adoption of cloud computing, finding the ideal cloud mix for your business has become crucial. But how do you navigate through the sea of options and find the perfect fit? Here are some strategies to help you make an informed decision.

 

  • Assess your business needs. What are your specific requirements? Do you need a public, private, or hybrid cloud solution? Consider factors such as security, scalability, and cost-effectiveness. Conducting a thorough analysis will give you clarity on what type of cloud mix suits your business best.
  • Consider the expertise required to manage your chosen cloud mix. Do you have an in-house IT team with adequate skills or would it be more feasible to outsource management to a third-party provider? Evaluating the available resources and capabilities will help ensure smooth implementation and ongoing maintenance.
  • Let’s not forget about interoperability. Will your chosen cloud mix seamlessly integrate with existing systems and applications? Compatibility is key to avoiding disruptions in operations during migration or integration processes.
  • Furthermore, take into account data governance regulations that may apply to your industry or region. Compliance with these regulations is essential for protecting sensitive customer information and avoiding legal consequences.
  • Stay updated on emerging technologies and trends in cloud computing. The landscape is ever-evolving, so being aware of new solutions can help future-proof your business’s infrastructure.

 

Finding the ideal cloud mix requires careful consideration of various factors unique to each organization. By following these strategies tailored specifically for your business needs, you’ll be able to identify a well-suited combination that maximizes efficiency while minimizing risks!

 

Conclusion

In today’s rapidly changing business landscape, digital transformation has become an essential element for companies. Finding the ideal cloud mix for your business is a crucial decision that can have a significant impact on its success. It requires careful deliberation based on an in-depth analysis of your business requirements.  By understanding the different types of cloud computing and how they can benefit your organization, you can make informed choices that align with your specific needs and goals. Whether it’s public, private, or hybrid clouds, each option offers unique advantages that can enhance your business operations. All you need is to assess your current infrastructure, consider scalability requirements, evaluate security measures, and analyze cost considerations when determining the optimal cloud mix.

 

Additionally, keep in mind that flexibility is key in today’s rapidly evolving digital landscape. As technologies continue to advance and new opportunities arise, regularly reassessing your cloud mix will ensure that you stay ahead of the competition and meet ever-changing customer demands. With proper planning and strategic decision-making processes in place, you can create a customized blend of cloud solutions that maximize efficiency while minimizing costs. We at Xorlogics, help companies to embark on their digital journey so they can unlock new opportunities for growth and innovation within their organization!

 

Ensure effective execution of Digital Transformation Projects

 

Successful digital transformation projects are essential for organizations looking to stay competitive and relevant in today’s rapidly evolving digital landscape. Several critical success factors contribute to the effective execution of all digital transformation projects. Digital transformation is more than just a buzzword; it’s a strategic approach that helps organizations revolutionize their processes, systems, and customer experiences in this increasingly digital landscape.

 

Not all digital transformation projects are successful. Many fall flat due to various reasons such as lack of clear goals, resistance to change, or inadequate planning. So what sets apart those triumphant initiatives from the rest? What are the key success factors for digital transformation projects? Below are some key factors to ensure success:

 

Define digital transformation

 

Digital transformation is more than just adopting new technologies or implementing digital tools. It’s a holistic approach that encompasses the entire organization, its processes, and its mindset. At its core, digital transformation involves leveraging technology to fundamentally change how businesses operate and deliver value to their customers.

 

In simple terms, it’s about using digital solutions to drive innovation, streamline operations, enhance customer experiences, and stay ahead of the competition in today’s rapidly evolving market landscape. This can mean digitizing manual processes, automating tasks through artificial intelligence (AI) or machine learning (ML), embracing cloud computing for scalability and flexibility, or leveraging data analytics for actionable insights.

 

However, digital transformation goes beyond these technical aspects. It requires a shift in mindset and culture within an organization. It means fostering a culture of agility and adaptability where employees are encouraged to embrace change instead of resisting it. It also involves aligning business strategies with technological advancements to create new opportunities and unlock untapped potential.

 

Successful digital transformation projects not only focus on technology but also place equal emphasis on people and processes. They involve collaboration across various departments within the organization to ensure everyone understands the importance of the initiative and is actively working towards achieving common goals.

 

Defining digital transformation means understanding that it is not a one-time project with a fixed endpoint; rather, it is an ongoing journey of continuous improvement fueled by innovation and adaptation in response to ever-changing market dynamics.

 

Identify the success factors for digital transformation projects

 

Clear Vision and Strategy: A well-defined vision and strategy are fundamental for any digital transformation initiative. This involves understanding the organization’s goals, identifying areas for improvement, and defining the expected outcomes of the project.

 

Strong Leadership Support: Digital transformation requires strong support from top-level executives and leaders. They must champion the project, allocate resources, and communicate its importance throughout the organization. Without this support, it becomes challenging to navigate through the complexities of transformation.

 

Cross-Functional Collaboration: Successful digital transformation projects involve collaboration across different departments and teams. Breaking down silos and fostering communication between business units can lead to more integrated and effective solutions.

 

Agile and Adaptable Culture: An agile and adaptable culture is vital for embracing change and innovation. Employees should be encouraged to experiment, learn from failures, and continuously improve.

 

Talent and Skills: Ensuring that the organization has the right talent and skills is crucial. This may involve upskilling current employees, hiring new talent, or partnering with external experts.

 

Customer-Centric Approach: Keeping the customer at the center of the transformation efforts is key. Understanding customer needs, preferences, and pain points can drive the development of customer-focused solutions.

 

Data-Driven Decision Making: Leveraging data and analytics is essential for making informed decisions and identifying areas for improvement. Data-driven insights can optimize processes and enhance customer experiences.

 

Secure and Scalable Technology: Selecting the right technology infrastructure and tools is critical. The chosen solutions should be secure, scalable, and aligned with the organization’s long-term goals.

 

Change Management and Communication: Managing change effectively is necessary to address employee concerns and ensure a smooth transition. Open communication and regular updates can help gain buy-in from employees.

 

Measurable Objectives and KPIs: Establishing clear and measurable objectives, along with Key Performance Indicators (KPIs), allows the organization to track progress and determine the project’s success.

 

Risk Management: Identifying potential risks and having a plan to mitigate them is crucial. Risk management strategies can help prevent project delays and unexpected setbacks.

 

Continuous Evaluation and Improvement: Digital transformation is an ongoing process. Regularly evaluating the project’s progress, learning from the results, and making necessary adjustments are essential for sustained success.

 

 

Whether it’s embracing emerging technologies or optimizing internal processes, the rewards of a well-executed digital transformation can be substantial. By focusing on these critical success factors, organizations can increase the likelihood of successful digital transformation projects that drive growth, efficiency, and innovation. It enables businesses not only to survive but thrive by staying ahead of competitors.

The biggest challenges of BigData in 2023

The use of big data is on the rise, with organizations investing heavily in big data analytics and technology to gain insights and improve business performance. With the rapid growth of the internet, social media, and the IoT, the amount of data being generated is increasing exponentially. As a result, there is a need for better tools and techniques to collect, store, analyze, and extract insights from this data.

 

Additionally, the growth of the global datasphere and the projected increase in the size of the big data market suggest that big data will continue to be a critical driver of innovation and growth across various industries. In a study by Accenture, 79% of executives reported that companies that do not embrace big data will lose their competitive position and could face extinction.

 

Advancements in big data technologies such as machine learning, artificial intelligence, and natural language processing are also foreseen. These technologies have the goal to enable businesses and organizations to make better decisions, gain a competitive advantage, and improve customer experiences.

Xorlogics participating Cebit 2016

Here are a few examples of how big data is being effectively used in various industries:

 

  • Healthcare: Big data is being used to improve patient care, disease diagnosis, and treatment outcomes. For instance, healthcare providers can analyze electronic health records to identify patterns and trends that may help diagnose diseases earlier and predict patient outcomes. Additionally, big data analytics can help hospitals and healthcare organizations optimize their operations, such as reducing wait times and improving patient flow.
  • Finance: Big data is being used to identify and prevent fraud, assess risk, and personalize financial products and services. For instance, financial institutions can use big data to analyze customer behavior and preferences, in order to develop personalized marketing campaigns and offers. Additionally, big data analytics can help banks and other financial organizations to detect fraudulent activity and reduce the risk of financial crime.
  • Retail: Big data is being used to personalize the shopping experience, optimize inventory management, and improve customer loyalty. For instance, retailers can use big data to analyze customer behavior and preferences, in order to develop targeted marketing campaigns and personalized recommendations. Additionally, big data analytics can help retailers to optimize their inventory levels, reduce waste, and improve supply chain efficiency.
  • Manufacturing: Big data is being used to optimize production processes, reduce downtime, and improve quality control. For instance, manufacturers can use big data to monitor equipment performance and predict maintenance needs, in order to reduce downtime and optimize production schedules. Additionally, big data analytics can help manufacturers to identify quality issues early, reducing waste and improving product quality.
  • Transportation: Big data is being used to optimize transportation networks, reduce congestion, and improve safety. For instance, transportation companies can use big data to analyze traffic patterns and optimize routes, reducing travel time and congestion. Additionally, big data analytics can help transportation companies to monitor vehicle performance and identify potential safety issues, reducing accidents and improving overall safety.

 

Generally, big data is being effectively used across a range of industries to drive innovation and create value, improve operational efficiency, reduce costs, and improve customer satisfaction. Along with the benefits of Bigdata, it’s challenges cannot be ignored. Here below are few potential challenges that bigdata may face in the future:

 

  • Data Privacy and Security: As the amount of data collected and stored increases, so does the risk of data breaches and cyber-attacks. Protecting sensitive information will be critical, particularly as more businesses move towards storing their data in the cloud.
  • Data Quality: As the volume of data grows, so does the risk of inaccuracies and inconsistencies in the data. Ensuring data quality and accuracy will become increasingly challenging, particularly as the data comes from a wide range of sources.
  • Data Management: Managing large amounts of data can be complex and costly. Businesses will need to invest in tools and technologies to help manage and process the data effectively.
  • Talent Shortage: The demand for skilled data professionals is growing rapidly, and there may be a shortage of qualified individuals with the necessary skills to analyze and interpret big data.
  • Data Integration: With data coming from various sources, integrating, and combining the data can be a challenging process. This could lead to delays in data processing and analysis.
  • Ethical Use of Data: As the amount of data collected grows, it becomes increasingly important to ensure that it is used ethically and responsibly. This includes addressing issues related to bias, fairness, and transparency.
  • Scalability: As the volume of data continues to grow, businesses will need to ensure that their infrastructure and systems can scale to accommodate the increased data load.

 

Overall, these challenges could impact the effective use of big data in various industries, including healthcare, finance, retail, and others. Addressing these challenges will require ongoing investment in technologies and skills, as well as a commitment to ethical and responsible use of data.

 

If you are looking for a partner who can give you both strategic and technical advice on everything to do with the cloud, than contact us so we can talk about your cloud project and evaluate the most suitable solution for your business.

GDPR with CIAM: THE devil is in the details

The EU General Data Protection Regulation (GDPR) has been in effect since May 25, 2018, It fundamentally changes the requirements for the processing of personal data and gives EU citizens significantly more control over their personal data – no matter where and how it is processed. Organizations around the world must respect certain guidelines on how to deal with the personal data of EU citizens. Anyone who does not fulfils their obligations risks a fine of up to four percent of the annual turnover achieved worldwide or 20 million euros. With that being said, still many the technical requirements of the EU General Data Protection Regulation seem difficult for companies to implement. An overview of what they are and how Customer Identity & Access Management (Customer-IAM or CIAM) paves the way to compliance.

GDPR with CIAM: THE devil is in the details

The articles of the Basic Regulation essentially define how data is collected, stored, accessed, modified, transported, secured and deleted. So, in the age of digital change, companies must find the right balance between compliance with the legal requirements on the one hand and effective customer care on the other.

 

Not only they must give data subjects extended opportunities to have a say in what happens to their personal data. But also, the person responsible requires documented consent from the data subject for the collection, storage and use of the data. Thus, all personal data must be secured using appropriate technical and organisational measures, depending on the probability of occurrence and the severity of the risk. Here below are few main issues that companies are faced with on the road to compliance:

 

  • Insufficient consent of the data subjects: The previously required basic level of consent to data use, including the opt-out procedure, is no longer sufficient under the provisions of the GDPR.
  • Data silos: Personal data is often stored across multiple systems – for example for analysis, order management or CRM. This complicates compliance with GDPR requirements such as data access and portability.
  • Lack of data governance: Data access processes must be enforced app by app via centralized data access policies. These policies are designed to give equal weight to consent, privacy preferences, and business needs.
  • Poor application security: Customer personal data that is fragmented and unsecured at the data layer is vulnerable to data breaches.
  • Limited self-service access: Customers must be able to manage their profiles and preferences themselves – across all channels and devices.

 

A robust Customer Identity & Access Management (Customer IAM or CIAM) solution are able to solve many of these seemingly insurmountable problems in no time.bThese solutions are able to synchronizes and consolidates data silos with tools such as real-time or scheduled bi-directional synchronization, the ability to map data schemas, support for multiple connection methods/protocols, and built-in redundancy, failover and load balancing.

 

CIAM solutions also facilitates the collection of consent across multiple channels and allows searching for specific attributes. Along with enabling mandatory enforcement of consent collection based on geographic, business, industry or other policies, they also offer the customer the opportunity to revoke their consent at any time. CIAM solutions give customers the ability to view, edit, and assert their preferences across channels and devices through pre-built user interfaces and APIs.

Most of the time these solutions include numerous centralized data-level security features, including data encryption in every state (at rest, in motion, and in use), access to recording restrictions, tamper-proof logging, active and passive alerts, integration with third-party monitoring tools, and more more.

 

In this way, a suitable CIAM solution helps to put many technical requirements of the GDPR into practice. And it even goes beyond the requirements of the basic regulation to create safe, convenient and personalized customer experiences – the basis for trust and loyalty.

 

Sources:

Règles pour les entreprises et les organisations

 

Physical & Cloud #DataProtection: Best Practices for your #Backup and #RecoveryProcess

Data, one of the most valuable assets of organisations. Massive data is the new currency. Thanks to advancements in technology and connectivity, data creation is skyrocketing. According to IDC, Global DataSphere Forecast, 2021-2025, the global data creation and replication will experience a compound annual growth rate (CAGR) of 23% over the forecast period, leaping to 181 zettabytes in 2025. That’s up from 64.2 zettabytes of data in 2020 which, in turn, is a tenfold increase from the 6.5 zettabytes in 2012. These data are stored in ever-increasing environments and connected devices, therefore backup and restoring the capability of an information system is a real challenge to ensure business continuity and the availability of associated data.

Volume of data created and replicated worldwide

What must IT departments do to fulfill the data security mission? Well, the data security policy is at the heart of each business concern and should be a fundamental part of their security strategy. Planned security measures can then create tactical and operational rules through the joint efforts of security and storage teams. To this end, storage must be an integral part of the company’s security strategy.

 

To achieve these objectives, a company must establish a cluster around the following five essential aspects:
• Allocation of responsibilities;
• Risk Assessment;
• Development of a data protection procedure;
• Communication of data protection procedure;
• Execution and testing of the data protection procedure.

 

  1. Allocation of responsibilities

The goal is to make storage security a fully-fledged feature of the IT security architecture. Even if the company decides that the responsibility for backup or storage security rests within the storage team, it must nevertheless integrate any safety measures in this area with task to secure the rest of the infrastructure. This integration will contribute to the establishment of in-depth protection. It is also advisable to share responsibility for extremely sensitive data. It’s, therefore, better to ensure that the person authorizing access is not the same as the person responsible for enforcement.

 

  1. Assessment of storage risks in the area of ​​IT security

#Managers must review each step of their backup methodology to identify security vulnerabilities. Can an administrator secretly make copies of backup tapes? Are they stored in boxes accessible to everyone? Is there a rigorous end-to-end monitoring chain for backup tapes? If critical data is backed up and transported, vulnerabilities of this nature could make it easy prey. If the risk analysis reveals many vulnerabilities, the company must seriously question the encryption of its data.

 

  1. Development of an information protection program that guarantees the security of company data, at all times, wherever they are

Multi-level protection should be adopted by taking existing best practices for the data network in order to apply to the storage network, while adding specific layers adapted to the characteristics of the archived data, for example:

  • Authentication: application of multi-level authentication techniques and anti-spoofing (anti-identity or address spoofing).
    • Authorizations: access rights according to roles and responsibilities (as opposed to total administrative access).

It is imperative to duplicate backup tapes because it is never good to depend on a single copy of the data. Despite the longevity of the bands, they are still exposed to environmental and physical damage. A common practice is to perform nightly backups and then store these off-site tapes without any verification. Recommended best practices include duplicating backup tapes and then storing offsite copies.

Magnetic tapes remain the preferred storage mode for backups because they are economical and offer sufficient capacity to back up an entire operating system on a single cartridge. When stored properly, archival tapes have a lifetime of more than 30 years, making them an exceptionally reliable storage medium.

 

  1. Communication of the procedure to be applied with regard to the protection and security of information

Once the procedure for protecting and manipulating sensitive data has been defined, it is important to ensure that those responsible for their safety are informed and trained. Safety rules are the most important aspect of assigning responsibilities. Functional managers need to be aware of risks, countermeasures, and costs.

Data loss and intellectual property theft affect the entire enterprise, not just the IT department. As such, the Director of Security must undertake a data security approach by training the different functional frameworks in the risks, threats and potential harms arising from security breaches, as well as the cost of the various possible countermeasures in this area. In this way, company executives can raise awareness about the cost/benefit of investments in data security.

 

  1. Implementation and testing of Data Protection and Security Plan

Securing data is not about technology but about the procedure. This is why it is essential to test the procedure. In addition, as the growth of the company is accompanied by an evolution in security and data protection needs, IT security practices must also evolve. Once the complete security plan has been developed, defined, and communicated to the concerned team, only then it’s the right time to implement it. IT team must ensure the implementation of the tools, technologies, and methodologies necessary for the classification of information. New technologies may be required to classify information or label it with metadata so that it is backed up according to appropriate rules and procedures.

Once in place, the procedure must be tested, both concerning backup and restore. The test is to introduce, into the process, any possible and imaginable danger, whether it is the loss of a tape or a server, network problems, equipment or filing of data or any other scenario which could affect the company’s performance.

It is advisable to carry out tests with personnel who are less familiar with the procedure, to ensure that it can nevertheless be applied without difficulty in the absence of the usual supervisor (due to illness, holidays or departure).

Effective methods to avoid Data loss and Data leakage

In the age of digitization and technological developments such as Industry 4.0, companies are confronted with ever-increasing amounts of data that need to be stored, analyzed, and evaluated according to business activity/priorities. Even though data is playing an increasingly significant role as a resource, it also comes along with huge security challenges. It is becoming increasingly lucrative for hackers to steal data to use it for a competitive advantage or even to monetize stolen data. When the data is stolen, companies lose a lot of money. To counteract this, data security, i.e., the protection of data from unauthorized access, is of crucial importance.

 

The protection of a company’s valuable data from unauthorized access is the task of data loss prevention (DLP) tools. Data Loss Prevention (DLP) solutions have been an integral part of the IT security strategy of many companies for more than ten years now. It is one of the most used technologies, by worldwide companies, to prevent the loss of sensitive data.  The aim is to protect any form of data against manipulation, disclosure, loss, and other forms of threats.

 

Various countermeasures can be taken to minimize the loss of a company due to data loss & to protect critical business assets. When implementing them, it is important to know what value the respective data generates for the company. Data that leads to high financial losses in the event of damage must be given the highest priority in the implementation of data loss prevention.

 

  • Backups: The most used method to counteract data loss are backups. These do not directly prevent the data loss process, but if data is lost, it can at least be recovered. Thus, it is important that the backups are carried out on a regular basis. They must also be regularly checked for recoverability and malware.

 

  • Permission Restrictions: Another technique to limit accidental data loss by employees is to restrict permissions/access to valuable files. The permission layer supports the company’s data privacy by protecting access to restricted data. Also, if an employee does not have permission to delete a file cannot delete it either.

 

  • Training and antivirus programs: There are several measures that must be taken to protect against viruses. First, the employees should be trained so that a virus has no chance of being invited into the system. However, since errors can still occur here, network anti-virus programs must be installed on every computer, every server, and every communication interface. It makes sense not to rely on just one provider here to be able to intercept several viruses.

 

  • Data leakage prevention: Analogous to data loss prevention, data must be inventoried and categorized. It ensures that users do not send sensitive or critical information outside the corporate network. Business confidential and critical information is classified and protected so that unauthorized users cannot accidentally or maliciously share data, which would put the organization at risk.

 

  • E-mail scanning: To prevent unauthorized internal sending of confidential documents, companies can prevent outgoing e-mails with attachments. However, since this cannot be practically implemented in everyday life, it makes sense to scan outgoing e-mails and only deliver them if previously set rules for sending have been observed.

 

  • Training and antivirus programs: Finally, incoming electronic communication can also be checked. This is to ensure that no Trojan or other form of malicious software can nest in the corporate network. Incoming documents in particular offer opportunities for this. Anti-virus programs must be used here to prevent a virus from being loaded. Employees also need to be trained so that fraudulent e-mails don’t stand a chance.

Data loss prevention & data leakage prevention are two main data security strategies that are adopted by worldwide companies. Companies that store sensitive and critical data, such as personal data, should place a greater focus on data leakage prevention. Operators of universally available assets, on the other hand, should consider data loss prevention as a priority.

Invoice Management: Introducing the Digital Invoice Processing

 Digital Invoice Management

The cost of classic invoice management, such as costs for paper, printing & shipping material, proper and audit-proof archiving of all tax-relevant documents has been increasing for years. The growing expenses burden gets not only internationally active corporations with hundreds of thousands of billing transactions per month. Also, SMEs with a few hundred or thousands of invoices per year are in chaos and are increasingly looking for cost-effective ways to counteract & reduce the cost of invoices and improve processes.

 

So, it is not surprising that the topic of obvious savings and optimization is on everyone’s lips and that the optimization process of invoices and system support is in high demand. Therefore, Digital Invoice Management is more and more seen as a possible way out of misery. But how much potential is there in the real processes of today?

 

In the digital invoice management solution, invoice receiving, invoice output, and invoice archiving are the main processes that most companies are looking for, regardless of transaction volume or industry focus. The biggest challenge when receiving invoices is usually the effort involved in receiving, opening, distributing, and forwarding incoming invoices of various types, formats, and transmission routes caused. Because those times are long gone when the supplier invoices arrived into the company only via post, the electronic invoice receipts continue to increase parallelly.  In most companies, the invoices still arrive in different departments, making the automation process difficult. With the digital invoicing management system, companies can automate how, in what form, to whom, and where the various invoices are to be received/sent. A central mailbox must also be set and dedicated for all incoming invoices. Employees from different departments can then forward all incoming invoices to this mailbox.

 

Digital invoice management ensures noticeable time savings and reduces the process costs within the company. Digital invoice management has proved to have a positive effect on the waiting and processing times of invoices. With digital invoice management, it’s easy to create the necessary transparency and at the same time ensure that customers, business partners, or suppliers can provide a high level of information. Reporting also provides a real-time overview. So, you always know the exact status of all invoices in your company. Also, as the options for the degree of automation of invoices can be set from simply, knowing the status of the bill, reading out a few metadata to fully automated processes, only relevant data is transferred to the accounting department.

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82% of finance departments are overwhelmed by the high numbers of invoices they are expected to process on a daily basis and the variety of formats they’re received in. Thanks to digital invoice management in combination with a DMS, all documents are automatically filed in the correct digital file. It’s easy to find invoices again quickly at any time and benefit from high availability and the provision of specific information. For example, you can search for a specific invoice number and find it in seconds. After recording/archiving the invoices digitally, employees can have a holistic overview of invoice management in the company. The use of digital invoice management with the right software also complies with all the requirements of GDPR.

 

Although digital invoice management alone has numerous advantages, it is only through intelligent interfaces, e.g., to a document management system (DMS), that the full potential of digital invoice management can be achieved. Once the companies’ entire invoice workflow is digitally mapped and invoice management can become a routine task.

 

Digital invoice processing improves your workflow through automated checking and approval processes. With personalized workflows, you can easily route information to the right person for further processing or approval. By eliminating paper-based and manual processes, you can bring immediate quality improvement and productivity gains. In addition, errors and delays in the recording and processing of invoices can be reduced. It can be stated that you not only save time but also workload through automated invoice processing. With the implementation of digital invoice processing, you make the process simpler, leaner, and more transparent.

 

Would you like to find out more about digital incoming invoice processing? Our competent and experienced consultants are at your disposal.

Tips to enforce IT security in Companies

Companies around the globe are facing huge challenges related to cybersecurity as remote work operations aren’t showing any signs of slowing down due to the Covid-19 pandemic. Their biggest concern is how to ensure their business continuity along with handling vulnerability related to cybersecurity. Reports have shown that the rapid growth of remote work has increased security incidents. According to Accenture’s Cost of Cybercrime Study, cybercrime will cost companies worldwide an estimated $10.5 trillion annually by 2025, up from $3 trillion in 2015.

 

Annual Cost of Cybercrime

 

At a growth rate of +20 percent year over year, this advance underlines huge challenges that businesses have to face as every system is potentially threatened. Thus, it’s important, more than ever, to secure your own infrastructure as well as possible. We’ve listed few tips here below on how companies can keep their IT systems safe and secure.

 

Build a cybersecurity-friendly corporate culture

Companies should appoint responsible persons and motivate employees to fill the security code of conduct. It is not something that takes place alone, the company must invest in a security culture. All employees must be trained on how to keep data safe and the training plan should address both onboarding training and continual reinforcement. Strong security and privacy awareness training program will not only support your business policies but also keep your company’s sensitive information safe. Knowing that no company or organization can function without the internet, a targeted and sophisticated defense strategy must be developed, no matter what industry the company is in or what size it is.

 

Evaluate the risks

You can’t protect what you don’t know. Companies must be carefully evaluated which departments are absolutely essential for the smooth handling of their business. Knowing your own infrastructure allows you to choose which components and information are particularly worth protecting. Once all the areas of protection are identified, where the basis of business existence is located, it’s easier to develop a security strategy. Along with that, the company’s most valuable data must be identified and prioritize for better protection.

 

Identify external and internal threats

Not only attacks from outside, but especially attacks from inside, whether deliberately or through negligence, lead to high economic damage year after year. While external threats are certainly a problem and should be closely monitored, insider threats are at least as dangerous and should be closely monitored as well. IBM estimates that around 60% of all attacks on IT systems occur within their own infrastructure. Verizon even found that successful phishing attacks account for around 90% of all security incidents. Therefore, it is important to have a system for preventing and monitoring insider threats, such as Intelligent User Behavior Analysis (UBA).

 

Maintain strict identity management in the cloud

Digitization is increasingly forcing companies to move into the cloud. Numerous companies have already outsourced their IT systems to the cloud or have started to switch dramatically since the COVID-19 outbreak. But in addition to the numerous advantages, there are also some implications with regard to IT security.

As the employees and consumers have the possibility to log on to numerous services that are hosted on different platforms – locally in the company, in public clouds, private clouds, and on third-party systems, data and applications are available to users everywhere, but at the same time the door is also opened to cybercriminals. Therefore, user identities and access must be well managed while enabling convenient single sign-on for all applications and data, regardless of whether they are hosted online or on-site. The access rights of individual user accounts must be strictly regulated and defined. Also, the number of accounts that combine many authorizations must be as low as possible. Employees should only have those powers that are absolutely necessary for their day-to-day work in their position. Companies with large numbers of users use Identity and Access Management (IAM) solutions to both facilitate access and ensure security in hybrid environments.

 

Backups, prepare for any emergency

“Hardware failure, theft, or malware infection (such as the crypto-locker ransomware attack) can make recovering data that is critical to your business expensive or impossible. To avoid this, you need to back up your data”. Creating a backup of the most important data in an emergency is now common and very effective for data security. All data that is essential for business continuity must be identified as it gives you the possibility to back up your most important files more frequently, and performing a full backup less often.

 

Sources:

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