According to the IDC Info brief, Trusted ERP Systems: Priority offerings in security, privacy, compliance and ESG, trustworthy businesses feature a robust approach to risk management, security, compliance, privacy, and ESG.
In fact, the top reasons for moving to a cloud ERP system include better security, compliance, privacy, and risk posture (45%) and better alignment with company values/ESG initiatives (34%).
Yet, moving to a SaaS model carries a shift in both compliance and security-related responsibilities when compared to on-premise deployments.
These topics will be the major topic of discussion of an upcoming webinar, Secure your Success: Security, Compliance, ESG on April 24th.
Here are some of the key questions that will be addressed:
What are the strategies to protect sensitive data?
All too often, we hear about data leaks of personal and company data, third parties infiltrating and influencing social media, all the way up to election interference.
It’s obvious that no one wants their customer or intellectual property data leaked online. But it is a constant challenge for companies to ensure protection of data in the face of ever increasing and creative threats.
This is why it is critical to have a secure business system that takes care of cyber security as part of its standard practices. From secure authentication of users, secure access rights based on business roles and responsibilities and auditability of activity trails throughout and across business processes.
How do you comply with regulations?
We are increasingly seeing rules and regulations being implemented and enforced across regions and industries and at individual country levels. For example, at last count there were over 600 Environmental, Social & Governance (ESG) rules in place around the globe. And these can result in financial penalties, not to mention loss of brand representation and investment dollars.
Keeping up with changing tax accounting and reporting rules, and the ever-increasing sustainability regulations (e.g. plastics taxes) can become a headache for companies of all sizes. And having a cloud ERP provider that can support and protect you against these evolving regulations, especially as you grow into new markets, industries or regions of the world, enables you to focus on where your core competencies are.
How can you minimize and mitigate cyber threats?
Unfortunately, if you don’t have a cyber threat defensive strategy, hackers will take advantage. As with our personal life where no one uses their computer without anti-virus, we should be thinking the same with our business life and no one should deploy an ERP solution without a cyber defense strategy.
It is important to partner with a systems provider and partners that can provide this protection. Ask for the BS 100012 or similar personal information management certificate. Ask to see the System and Organization Controls (SOC) reports. Ask why you should trust them with your mission critical and sensitive data.
As your company grows, managing increased processes and data volume becomes crucial for maintaining performance and customer satisfaction. H. Kracht's Erben AG, a Swiss company in hotels and wine, faced these challenges. Transitioning to a public cloud ERP, SAP S/4HANA Cloud Public Edition as part of their GROW with SAP initiative helped them reduce hardware costs and ensure continuous security updates. Now, they efficiently manage processes, data collection, and data protection for peace of mind.
Where to learn more
Please join us at the Secure your Success: Security, Compliance, ESG webinar on April 24th.
This session will provide an overview of the capabilities SAP brings to simplify these activities, as well as understand the role of both the customer and the SaaS provider when it comes to compliance responsibilities. You'll understand the capabilities SAP delivers as it pertains to security, audit, data privacy and protection, and regulatory compliance. Furthermore, you'll learn how H. Kracht's Erben AG trusts SAP to protect their server farms while maintaining top performance!
