As cyberattacks become increasingly sophisticated, companies face severe financial and reputational damage. With the use of artificial intelligence and machine learning, hackers exploit vulnerabilities, making social media scams more challenging to detect. Therefore, cybersecurity has become a key factor when considering a move to the cloud. Cloud ERP providers invest heavily in capabilities to protect their systems, providing customers with cybersecurity services and technologies, such as disaster recovery, business continuity, physical security, data encryption, patching, identity authentication, and access management.
However, security remains a shared responsibility between vendors and customers. The six critical qualities of a secure cloud environment include business resilience, physical security, comprehensive data encryption, trusted cybersecurity expertise, automated security monitoring and prioritization, and centralized patching, testing, and auditing. Cloud ERP solutions help to solve legacy security challenges, protect data through distributed cloud storage, physical security, and cloud security capabilities while helping customers stay compliant with changing regulations.