User Review
( votes)In their second year dealing with a tough transition to a new on-premises ERP system, a mid-sized manufacturing company faced an unexpected crisis. A surprise ransomware attack completely stopped their operations. They were unable to invoice, ship, or pay vendors for two weeks. In the middle of all this chaos, a decisive team member made a bold move, cutting ties with their ERP partner and getting Western Computer to help with an urgent recovery mission.
Join us for the newest episode in the “ERP Horror Stories” series, where Greg Williams, the VP of Strategy at Western Computer, will tell the story of how this company found themselves in this situation and how Western Computer brought them back to life by quickly moving them to Microsoft Dynamics 365 in the cloud – in just two months!
You will learn:
- Security concerns of on-premises systems.
- How a 2 year implementation was able to go live in 2 months in an emergency situation.
- The importance of change management in a move from a legacy ERP system.
- How to avoid mistakes that lead to an ERP horror story.
Register to Attend on January 30 or Watch Later
Understanding the Ransomware Landscape
Ransomware attacks have become increasingly sophisticated, targeting critical systems and wreaking havoc on businesses of all sizes. ERP systems, being the nerve center of an organization, are no exception. According to recent studies, the frequency and severity of ransomware attacks on ERP systems have seen a significant uptick, with attackers exploiting vulnerabilities in on-premise solutions.
The Vulnerability of On-Premise ERP Systems
Traditional on-premise ERP systems, although reliable, face inherent security challenges that make them susceptible to ransomware attacks. These systems often require extensive IT infrastructure, including servers, networking equipment, and dedicated personnel for maintenance and updates. Such environments can become breeding grounds for vulnerabilities if not managed and updated promptly.
The Fortification of Cloud ERP Systems
Cloud ERP systems, on the other hand, provide a robust defense against ransomware threats by leveraging the latest security measures. By entrusting your ERP solution to a reputable cloud service provider, you benefit from constant monitoring, regular updates, and state-of-the-art security protocols that significantly reduce the risk of a successful ransomware attack.
The inherent architecture of cloud solutions, with data distributed across multiple servers and locations, adds an extra layer of security, making it challenging for attackers to compromise the entire system.
Ransomware in the Manufacturing Sector
Ransomware attacks on manufacturing companies have been a growing concern. These attacks can have severe consequences, disrupting production processes, compromising sensitive data, and causing financial losses. The exact statistics may vary based on the source and timeframe, so it’s crucial to consult the latest reports for the most accurate information.
Here are some general trends and considerations regarding ransomware in the manufacturing sector:
Increased Targeting: Manufacturing companies have become attractive targets for ransomware attacks due to their reliance on interconnected systems, Industrial Internet of Things (IIoT) devices, and the potential for significant operational disruptions.
Financial Impact: Ransomware attacks on manufacturing often lead to financial losses, not only in terms of ransom payments but also in downtime, recovery costs, and potential damage to the company’s reputation.
Supply Chain Risks: Ransomware attacks on manufacturing can have ripple effects on the broader supply chain. Disruptions in one manufacturing facility can impact suppliers, distributors, and customers downstream.
Specific Attacks: Some high-profile ransomware attacks have targeted manufacturing companies, aiming to exploit vulnerabilities in their digital infrastructure. These attacks often leverage phishing emails, compromised credentials, or vulnerabilities in software and systems.
According to a TechTarget report: “Cybersecurity companies reported historic highs for the number of ransomware attacks both month by month and year over year. The threat evolved away from encrypting data to attackers relying solely on data extortion threats to pressure victims into paying, which might have contributed to the surge”
What lessons can you learn to avoid becoming an ERP Horror Story? Attend the next session to find out.
ERP Horror Story: Ransomware Attack Cripples Manufacturer’s On-Premise ERP System
Register to Attend on January 30 or Watch Later
By ERP Cloud Blog Writers, www.erpcloudblog.com
The post January 30 Interview ERP Horror Story: Ransomware Attack Cripples Manufacturer’s On-Premise ERP System first appeared on ERP Cloud Blog.
The post January 30 Interview ERP Horror Story: Ransomware Attack Cripples Manufacturer’s On-Premise ERP System appeared first on ERP Cloud Blog.
