All organizations have some plans on how to use data, and when to use data to improve business growth. In this era, data is the new soil. Data is now becoming the core strength of every organization that will regulate business growth. Data in the digital form has unique features and can be misplaced easily. ERP systems hold the majority of the data of their organization including personal as well as confidential data of the company. In short, the privacy of an organization is represented by the privacy of their enterprise application. As ERP being accessed by most of the employees of the company, and if the strict data controls are not placed within the ERP system then there is a very high possibility of getting data misused. Modern trending technologies like Machine Learning and AI reckon on the quality and security of data.
Now let’s understand what type of data is stored in ERP. Let’s start with personal data. ERP systems store records of their employees, date of birth, communication details like email, phone number and address. They also hold financial details like a bank account, payroll details, and so on. Payroll details are very personal within the organization and other details are very confidential and should not be accessed by anyone apart from very specific stakeholders.
ERP also holds financial transactions of the company along with its customers, projects, fees, and vendors. The crucial financial information is available in every bit of ERP. Very sensitive personal information like sexual orientation, family details, health details and so on might stored in ERP. Confidential information like credit card or bank account details is also stored for expenses or payments in ERP. Profit and loss of the company can be easily pulled from the ERP System. Before making financial information public, it can be fetched from ERP. Financial results are trigger points in the share market for valuation. All potential risk of ERP data is applicable for each ERP system present in the world. The only potential risk may vary and it depends upon ERP data.
Now you may have understood what type of data you are holding in your business systems. So, do you think data governance is very important? The following points will help you to understand your data and application governance at your place.
1) Your data storage/cloud storage. Is this a public cloud or private cloud or hosted on-premises?
2) What all security majors are in place at your network,
3) How backups are scheduled and where the backs are being maintained.
4) In the financial application, how many system admins and super users are present?
5) Understand every team responsibility and provide adequate access for their work,
6) How sensitive information like HR details and confidential details like card numbers and bank account numbers are being accessed?
7) Understand every user of the team and provide access based on his or her role and responsibility,
8) Find out all unused rolls and close them off,
9) Place data controls in the system, so the end-users can access only accountable data and rest all should remain behind the gates of control,
10) Even if you are not following data audit, but you can do the mock and understand the loophole of your system,
11) System admin team should be well versed with the data governance and the risk associated with it,
12) Your system and accesses are correct however, the breach can be done by accessing users’ networks. So, let end-users understand the importance of data security and how they can prevent cyber incidents.
If you are looking for scruitinize your application data security or audit your system access then you can connect with us.