July 7, 2020
This week’s blog continues our discussion on the importance of operational continuity, and scenarios organizations must guard against. The fifth scenario involves cybersecurity and is a primary concern for most organizations, but especially for those with legacy IT applications.
In a recent CIO survey, cybersecurity was identified as the top tech project for 2020, and 68% of respondents planned to increase spending on cybersecurity in the next 12 months. With the Ponemon Institute reporting $3.92 million as the global average cost of a data breach in their 2019 study, it’s no wonder this issue has been catapulted to the top of the list.
The real anxiety comes from knowing that you can never rest. There will always be bad actors with malicious intent evolving their strategies and attempting more creative breaches. While companies will continue to follow best practices, it requires vigilance, resources, talent, and continual education to stay ahead.
However, if you partner with a cloud company, they will take responsibility for most of that burden. Trusted cloud companies follow the latest security standards and privacy practices. The number and variety of experts they employ to protect their customers are much greater than any single company would typically be willing or able to invest. You can read more about Infor’s cloud security credentials here.
Companies with legacy IT applications are already shouldering the daily maintenance and management of the solution with the continual pressure to innovate and expand their enterprise ecosystem. When you add the extra burden of continually monitoring for malicious new security threats, it likely feels like an unwinnable war.
One of the reasons Winchester Electronics moved to the cloud was because “Amazon Web Services (AWS®), has better resources to maintain high-security standards than we could ever have.”
Moving to the cloud can produce a fundamental shift in the allocation of your resources and budget, refocusing on strategic initiatives and leaving the bulk of your enterprise application management, maintenance, and, more importantly security, to a trusted partner.
If you find the themes covered in this blog post relevant to your business, we invite you to watch our on-demand webinar featuring Infor customer Teknor Apex. Alternatively, download this best practice guide on how to avoid business-damaging scenarios caused by outdated IT systems.