Data security is of the utmost importance in any field. In manufacturing especially, ensuring the integrity of your data, be it client lists, orders, or client info, is vital to running a successful operation. It is a fact of life that an organization will, at one time or another, experience a “Security incident”, or attempt by outside forces to compromise data in some fashion. The Aberdeen Group’s Monte Carlo analysis presumes that an incident will occur, in fact. The question is, how can you minimize the risk of an actual data breach?
What is the cost of a data breach?
Depending on variables the business impact of an actual data breach could range anywhere from 82,000$ to over 130,000$, according to projections in the Monte Carlo analysis. This considerable loss cannot be planned for, as the inherent nature of cyber-attack is unpredictable, but there are precautions you can take. Many companies rely on software installed on their in-house/on-premises data servers, which can provide varying levels of protection. There is, however, another option.
Microsoft Dynamics NAV in the cloud provides a complete financial and operational manufacturing solution with increased protection against the dangers of security incidents and data breaches. By having a remote, encrypted server to house your sensitive data, it makes it much more difficult for hackers to reach your information. Cloud systems are built from a security first perspective, while traditional, “on site” methods of data storage often look at security as an afterthought.
With competition in the manufacturing sector as fierce as ever, trusting your data security to traditional, on-site methods is a major risk. With the costs associated with a data breach being so high, investing in a cloud-based solution for data security can ultimately end up saving your organization long term.