September 3, 2020
At a time when most people are exhausted by our current reality, here’s one more thing to elevate to the top of the list. Cybercrimes are escalating at an alarming rate. And unfortunately, enterprise-level data breaches have become the current reality for some distributors.
In a recent Forbes article, not only were ransomware attacks up 25% from the previous quarter, but also the payment amount demanded was up 33% for the same period. In addition, the FBI submitted testimony to the Senate Judiciary Committee that stated cyberattacks reported to the Internet Crime Complaint Center (IC3) for the first 5 months of 2020 almost matched the total number reported in all of 2019.
Since March, many companies rushed to implement work-from-home strategies for which they and their employees were not necessarily prepared. It is believed that this environment created a fertile ground for cybercriminals. InformationWeek reported on some of these activities in 10 Cyberattacks on the Rise During the Pandemic. And while cybersecurity is a priority for most organizations, it should be of utmost concern for those with legacy IT applications.
Companies with older, on-premises applications are already shouldering the daily maintenance and management of the solution with on-going 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.
The real anxiety comes from knowing that you can never rest. Cybercriminals are consistently 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 hopefully stay ahead.
But what if you could rely on someone else to carry much of that burden for you? Especially now with so many other unexpected and challenging issues to resolve. Now may be the best time to explore the value of a cloud solution. Trusted cloud companies follow the latest security standards and privacy practices. The number and variety of experts they employ to protect their customers is much greater than any one company would typically be willing or able to invest.
And remember, moving your enterprise software 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 wish to discuss options to better protect your business, connect with Infor.