Optimising financial processes

Posted on:

Something to Consider 2: August 2018

Something to Consider August 2018 -ERP Applications Under Cyber Attack? 

Are Your ERP Systems Prepared for Cyber Attacks?

Oracle and SAP have urged customers to apply the latest patches to secure systems against hackers. Firms in the UK, US and Germany are most at risk from the threat of hackers who are actively targeting ERP applications to disrupt critical business operations and steal personal credentials. The US Department of Homeland Security has deemed this a big enough threat to issue a warning.

A report entitled: ‘ERP Applications Under Fire’ details more than 200 SAP exploits and 2500 Oracle exploits dating back over a decade, including cyber criminals stealing SAP user credentials and accessing companies’ internal IT environments.

In the wake of its findings, the report recommended that all businesses take steps to mitigate the risk of being targeted, saying: “ERP applications are clearly a target for cyber attackers and it is no longer an option to rely solely on identity management and segregation of duties controls, as they are ineffective to prevent or detect these evolved risks.”

In our complex IT environments with a myriad of automated, sophisticated technologies and tools, it is often easy to forget to get back to basics. The simplest of tasks remain crucial to secure sensitive information, from updating our ERPs to the latest version, downloading the latest patches and remaining aware of current threats.

If you want to read the full report you can find it here

If you would prefer some bitesize commentary, follow this link​​

Our ‘Something To Consider’ snippets are framed as small, digestible, ‘dashes of insight’ around the pillars of what we define as “World Class Finance” – Process Optimization, Financial Control and Compliance, and Risk Assurance, all underpinned by technology enablement and integration.