GDPR Archives

Cyber resilience: the gateway to new-age data security

by Estuate | Nov 4, 2022 | Data Privacy, GDPR, Governance Risk and Compliance, Managed Services

Experts argue and rightly so that cyber resilience is more than a mere buzzword today. It has been and will always be relevant. As any business grows and modernizes, it demands higher and more efficient governance. A cyber resilience framework pertains to end-to-end governance to keep the security of the business intact. In fact, cybersecurity and resilience solutions are among the most sought-after managed cyber services of all times. Compromised data security has always been heavily taxing.

According to recent research, cybercrime damage is expected to reach $8 trillion USD by 2023. Is your organization part of this pool or does it stand aside?

Technology comes with its own pluses and minuses. It brings with it tons of opportunities to grow but also carries some challenges that cannot be overlooked. As enterprises embrace modern ways of conducting business and move closer to digitization, vulnerabilities associated with data and technology increase. The rising number of data breaches and cybersecurity incidents is a warning for businesses around the world to rethink their risk management strategies.

Today, companies need more than just an information security plan or governance policy to fight hacks and cyber-attacks. They need end-to-end managed cyber services to prevent security incidents, including a bulletproof action plan to counter them when needed. And, that’s where cyber resilience solutions come into the picture.

What is cyber resilience?

Simply put, cyber resilience is the ability of organizations to withstand cybercrime, prepare for possible threats, and build an action plan to recover from it if it ever hits them. It is a comprehensive framework that aims to protect the entire organization, including its people, processes, and information from cyber crises. The holistic integration of managed cyber services can help you plan this strategically.

How is cyber resilience different from cybersecurity solutions?

Broadly speaking, cyber resilience and cyber security sound synonymous. The two terms are closely related, but cannot be used interchangeably. While cybersecurity mainly focuses on protecting business information, cyber resilience solutions are about protecting the business from attacks that can potentially disrupt the entire operation. Cyber resilience is a more integrated and proactive approach that includes cybersecurity as a key element.

Read the case study: Khan Bank mitigates business risk and attains unified governance with Estuate’s GRC framework.

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How is cyber resilience different from cybersecurity solutions?

But, why should you care?

Almost all data-driven organizations have a governance policy or risk management framework in place. You would too. But given the big data breaches at companies like Facebook and Equifax, do you feel good about your security measures?

As your data and business scale, cyber threats increase accordingly. Your business is vulnerable to threats like sensitive data theft, insider breaches, poorly managed processes, and technology-driven attacks. In this high-risk digital landscape, attacks can happen anytime, anywhere. A cyber resilience framework can protect you from security incidents over the long term without disrupting business operations. A skilled cyber managed service provider can help.

Watch: Actionable Data Governance: How to manage my sensitive data risk?

How to achieve cyber resilience in your organization?

Identify the weak spots
Protect the critical IT assets
Detect the early signs of malpractice
Respond with immediate effect
Recover as holistically as possible

Step 1: Identify the weak spots

For a scalable cyber resilience strategy framework, you must first take a closer look at your organization’s vulnerabilities. Where is all your sensitive information stored? Who are the people working with sensitive business information? What equipment is used to perform sensitive processes? Conduct a thorough hygiene check of your business and identify the areas where cyber resilience solutions are urgently needed.The first step to avoiding a data breach in your enterprise is thorough internal awareness.

Read the case study: Estuate helps Al Hilal Bank implement enterprise-wide GRC strategy for long-term success.

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Step 2: Protect the critical IT assets

Once you have identified your most critical assets and processes, you need to develop a strategy to protect them from cybercrime. This includes changing security policies, strengthening device encryption, limiting unauthorized use of external devices, educating employees on the importance of cybersecurity solutions, and implementing best practices to prevent malicious activity.

The increasing influx of new technologies makes this step even more important. Take blockchain, for instance. The advent of blockchain has revolutionized the cybersecurity solutions space.

Step 3: Detect the early signs of malpractice

In addition to proactively preventing cybercrime, you must also closely monitor your business processes, employee activities, and sensitive information. Early detection of fraud or malware can minimize the drastic impact on business operations. Any troubling activity must be reported immediately and appropriate action must be taken.

Read: the five steps to enterprise GRC implementation

The 5 steps to a cyber-resilient enterprise

Strict and timely adherence to these steps can help your business with cyber resilience

Step 4: Respond with immediate effect

Cybercriminals are never at rest, and despite the security measures taken, your company can experience a security incident. It could be something as minor as an employee using a personal device for an official task, or as major as the loss of sensitive customer data. As soon as suspicious activity of any kind is uncovered, it must be dealt with immediately and forwarded to the right people in the company to combat it effectively.

Step 5: Recover as holistically as possible

What’s done is done, but you can always mitigate the adversity of cybercrime with the right measures. This step is about the measures that can be taken to ward off malicious activities, prevent them from spreading to different departments, and fix the bug under your control.

The aftermath of a security incident can be devastating. Not only does it hinder business activities, but the company suffers huge financial losses and its brand value is severely impacted. A bulletproof cybercrime prevention strategy is a must for all businesses, regardless of size or type. Cyber resilience is a smart choice to protect your business data, processes, technologies, and employees from cybercrime in the long run.

As most data-driven enterprises today center on software applications, a data protection strategy can prove to be handy. When holistic and properly deployed, such a strategy can form the bedrock for your application testing.

Watch the webinar: Securing and protecting enterprise data.

Unlock robust cyber resilience solutions with Estuate’s GRC framework

We integrate all three pillars of GRC under one umbrella to help you enhance business efficiencies.

Corporate Governance
- Policy creation and management
- Development of a legal and regulatory framework
- Information and asset management
- Enterprise-wide information security awareness
Risk Management
- Business and IT risk assessment
- Risk monitoring and analysis
- Third-party risk management
- Issue management and troubleshooting
Regulatory Compliance
- Regulatory intelligence
- Compliance design
- Compliance audits and surveys
- Reporting and metrics

Want to explore further? Dive in here to learn more about our overall GRC ambit

Our GRC solution span covers a wide gamut of specializations: from Cisco, Imperva, Auryc, and more.

So if you are looking for any assistance in the realm of managed cyber services, we’ll be more than happy to help!

How important do you think cyber resilience is for today’s businesses to survive and thrive? What steps are you taking to protect your company’s data? Let us know on LinkedIn, Twitter, or Facebook. We would love to hear from you!

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Data Archiving: The differentiator of ERP services

by Estuate | Aug 3, 2022 | Data Privacy, GDPR, IBM, Test Data Management

Effective and efficient are the cornerstones of modern ERP (Enterprise Resource Planning) solutions. Today’s ERP vendors must address the compounding pressure of ever-expanding data. In other words, they need to cue in robust data archiving solutions. But, archiving ERP applications can get tricky at times. Many companies seek to retire those initial ERP applications – and, in some cases, the mainframe apps and proprietary platforms that preceded them – they’re not sure how to transition gracefully while maintaining access to all their data. This data still has value, not to mention liability potential, so archiving it takes careful thought. A skillful ERP solutions vendor can come to the rescue.

According to Fortune Business Insights, the global ERP software market will reach USD 93.34 billion in 2028 growing at a CAGR of 9.2% during the 2021-2028 period.

This implies booming ERP data growth in the upcoming years. The time is as important as ever to archive old data to make room for fresher incoming data. Efficient functioning can foster smoother ROI generation here.

What is data archiving?

Data archiving refers to a process of identifying, extracting, and transferring data that is no longer in active use, to a secure and accessible location. In the initial phases of building an ERP application, the focus is more on making accessible as much data as possible – in one system, under one roof. But, on the flip side of this lies the complex parent-child relationships between data tables. It can get difficult to pull data out of relational databases without breaking something. Your ERP solutions vendor needs to have tools in place for efficient data archival.

Why do you need data archiving solutions?

Improves cost efficiency
Enhances business productivity
Supports audits and compliance
Streamlines enterprise storage

1. Improves cost efficiency

In today’s data-overload environment, storage needs are at an all-time high. Without proper infrastructure, this can put unwarranted pressure on your servers, especially if you are storing everything on site. And, this further involves colossal investments for server upkeep. Many enterprise compliance standards demand that all corporate data (including ERP data) be stored for a substantial periods of time. So, when data deletion is not an option, it is always prudent to store data on remote/off-premise servers or in the cloud. And, this is what data archiving services are all about. In the absence of a well-maintained data repository, companies often have to outsource for intel discovery and incur huge costs in the process.

Data archiving services also take the load off your IT teams and make you more self-reliant when it comes to accessing the archived data. The archives are designed to be both affordable and accessible.

2. Enhances business productivity

Data archival solutions streamline ERP data end to end. It is record management of sorts. Business operation applications, such as ERP, often gather a lot of data in a very short period of time. It creates a lot of unnecessary pressure on your on-premise storage facilities. Cloud storage solutions are better suited for such requirements. All the data your software tools accumulate over a stipulated period of time can instead be archived for easy access and analysis. This not only saves on-premise service space but also ensures that all of your installations function quickly and efficiently.

By carefully structuring the collected data, the process of data archival also makes the case for easy data retrieval. All redundant data is removed and only the unique data is stored and saved. This further enhances business communication as all stakeholders access and collaborate on the same versions of the data files.

The benefits of leveraging data archiving services

Data archival brings multiple advantages to businesses

3. Supports audits and compliance

Data governance and compliance are integral components of smooth enterprise operations. Businesses need to go through constant third-party audits and legal reviews. There is always some data that is not in active usage but still, you need to keep it handy for the said requirements. And, ERP data is also no exception. A sound ERP solution vendor has mechanisms in place to immediately identify and automatically archive such data. Application data masking and retirement are other data management solutions that can pave your way to strong compliance standards.

Watch: Archiving structured data for information lifecycle governance and profit

4. Streamlines enterprise storage

It’s always easier to gain insights from data when it’s stored in a single, shared location. If it is scattered across multiple devices and networks, it becomes difficult to leverage data as enterprise intel. To add to the challenge, data often comes in various shapes and sizes from varying sources – structured and unstructured, traditional and non-traditional. This, of course, means recurring efforts in server maintenance. A centralized repository of data (ERP or otherwise) with business-critical user access can make enterprise operations more efficient.

With data archiving solutions in place, storage can be streamlined and maintained in one go. You can plug in with select ERP service integrations for desirable outputs.

Watch: how to manage explosive data growth effectively

Why do many ERP vendors often miss out on data archiving?

If you’ve ever struggled with the process of purging, archiving, or extracting data for a mid-sized or large enterprise, you may have wondered aloud, “Why didn’t my ERP solutions vendor provide a better way to do this?”

In 1986, Oracle started developing a new generation of business applications that would transform the playing field. Up until that point, ERP systems had been proprietary. They were either written for IBM mainframes (as SAP’s accounting software suite was), or for one of the various mini-computer platforms.

Oracle’s new software would propel ERP one step closer to truly open systems. How? It was written for a new generation of hardware platforms—such as Sequent Computers and Pyramid Computers—that ran on a generic version of the UNIX operating system. Adding to the flexibility, the Oracle relational database could also run on proprietary platforms. Thus, companies using the new Oracle Financials suite with an Oracle database could run their software on virtually anything.

Suddenly, enterprises truly had a choice of hardware and software. Although IBM had invented the relational database, Oracle was running with it.

However, that wasn’t the only pro-customer change. The user interface in these new applications was vastly improved. Previous generations of ERP had offered users a traditional mainframe green screen. You would fill the screen with data and press a button. Since there was no field-level validation, errors would only come back to you after you’d processed an entire screen.

Oracle’s new apps, on the other hand, offered much richer interaction between computer and user. And because they ran on a relational database, users could query data on demand, rather than using the cumbersome nightly reporting associated with mainframe computing. These innovations naturally enabled much greater productivity—not to mention, user satisfaction.

The dynamics between data management and data archiving in ERP

The uptake of ERP applications has been dramatic over time. And the urge to load these systems with huge amounts of corporate data has been unstoppable. So, it was only a matter of time for businesses to realize that the aging ERP applications come with a more serious problem: it’s really hard to get data out of them. And fairly, this set the stage for corporate data repositories, ergo, data archives to enter the picture.

Bring home data archiving solutions with IBM InfoSphere Optim

Estuate is the most trusted data archival partner of IBM InfoSphere Optim

At Estuate, we have deep experience in the implementation of IBM InfoSphere Optim solutions, and other IBM Unified Governance and Integration products. Together, we have more than 350 successful implementations.

With IBM InfoSphere Optim Archive solution, you can seamlessly archive little-used data and retire obsolete applications. The archived data can be accessed at any time.

Watch: An Estuate case study – IBM InfoSphere Optim Data Growth Solution for PeopleSoft

So if you need any help in archiving your ERP data, know that we’re just this click away.

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How is GDPR impacting Indian Data Privacy Laws?

by Estuate | Sep 5, 2018 | GDPR, Governance Risk and Compliance

GDPR is a trendsetter in the world of data protection and is widely impacting worldwide data privacy laws. Can we expect something similar in India?

Data privacy is one of the biggest risks that modern businesses face. The use of big data elevates the complexity of this challenge even more. The question is; are you doing enough to fight the risk? If you think installing anti-malware software and conducting an audit every six months is enough to keep your sensitive information safe, you certainly need to revisit your data privacy measures. There have been some mega data breaches in the recent past; at massive business groups such as Verizon, Equifax and even Facebook. These data breaches teach us a very important lesson; no business is completely safe from the risk and cybercriminals are never at rest.

Data privacy is now a matter of universal concern, a serious problem; just like global warming and terrorism. Today, every nation needs stringent data privacy laws and regulations to ensure fair and safe use of sensitive information. With an aim to discuss the various challenges and concerns underlying in the Indian Data Protection Framework, ASSOCHAM recently conducted a Global Data Privacy Summit in Bangalore. The idea behind the summit was to invite views and suggestions from a multi-stakeholder community on the regulatory and judicial processes around nation-wide data privacy concerns.

Several business groups, IT delegates and data privacy enthusiasts from India and other countries participated in the event. The panelists discussed the challenges, opportunities and probable measures on stimulating issues like Big Data, worldwide Data Privacy, and effects of disruptive technologies on Data Protection among many others. Each discussion was followed by an interactive Q&A and networking session.

Estuate too, was a key participant at the event as the GDPR partner. Our Data and Analytics Head, Mr. Vishwas Balakrishna drove the discussion on “The influence of GDPR on global data privacy laws”. “GDPR is a game-changer in the world of data privacy. If nations across the globe get influenced by this revolutionary law and impose similar regulations, the status of worldwide data privacy will be stronger and more resilient in the days to come.” Vishwas stated.

The European Union’s GDPR is a rather bold and revolutionary step against global cyber risk. The law sets stringent restrictions on the usage of personal information of EU citizens. The good thing is, it is not just confined to the European borders, but applies to all companies across the globe. It is a strong, solid measure that strengthens data privacy despite the uncontrollable risk of breaches.

Data privacy is certainly a burning issue in the Indian ecosystem. In order to address this concern, the Personal Data Protection Bill, 2018 has been recently submitted by the Justice BN Srikrishna committee. The proposed bill is similar to GDPR in many ways. It states that “The right to privacy is a fundamental right and it is necessary to protect personal data as an essential facet of informational privacy.” It also binds any person processing personal information of Indian citizens to do it in a fair and reasonable manner. Non-compliance would lead to penalties up to Rs. 15 crores or 4% of business turnover.

Although it is still a proposed bill and is awaiting approval by the Ministry of Electronics and Information Technology, it is a huge step in the right direction towards fighting cybercrime. If implemented, it could potentially change the face of the Indian Data Protection Framework for good.

GDPR: What it means for US-based companies

by Estuate | Sep 27, 2017 | Data and Analytics, GDPR, Governance Risk and Compliance

The General Data Protection Regulation (GDPR) is a new law that will come into effect in the European Union (EU) on the 25th of May, 2018. It’s key goal is to reinforce and unify data protection for individuals in the EU. The GDPR replaces the Data Protection Directive from 1995 and marks a major departure in many aspects.

It is a new legal framework for handling personal data of EU-based individuals, be they customers, prospects, contractors or employees. It is already in force but not yet enforceable-businesses and not-for profit organizations have until May 25, 2018 to comply. Although GDPR originates in the EU, it actually impacts businesses worldwide- if they handle personal data of EU individuals, or do business with organizations that do. GDPR imposes obligations on how that data is treated, even if that personal data has traveled outside the EU and is now stored and handled in a distant corner of the world.

How will GDPR affect US companies
The main objective of GDPR is to give EU citizens greater control over how their personal data is collected, protected and utilized. While the legislation applies to EU companies, it also applies to any company that chooses to do business in the EU. US companies that operate in the EU market and which collect personally identifiable information (PII) are subject to EU-GDPR regulations in all of the EU countries in which they do business.

EU GDPR directly impacts organisations in the U.S. If they

have offices or employees in the EU
market or sell to EU citizens
partner with EU-based organisations
may have at one point, or may at some point in the future, process, store, receive, or handle in any way, data pertaining to EU citizens

If your processing activities fall into any of the above categories then you must comply with the EU GDPR guidelines. Basically, this means the rules follow the data, rather than being territorial. In other words, this is applicable to US companies that are not located in the EU but provide goods or services to EU citizens or monitor the behaviors of EU citizens. These companies must be in compliance with GDPR rules on the data privacy of these individuals.

Key points for US-based companies: How do I comply?
After determining that they are subject to the regulation, the next determination a US company has to make is what changes they need to make in order to comply. To truly comply with the new General Data Protection Regulation (GDPR) rules, means being able to see into ALL of the organisation’s data, which will assist in adopting a holistic approach with processes adopted across all industries, geographies and business units and provide a clear strategy on access and classification. Organisations need to know where personal data is stored, in what form it is found and keep track of who is authorised to access it. US-based companies that collect personal information and that operate within the European Union should consider preparing for the GDPR’s implementation by:

Developing or revising a privacy program that collects and retains personal information only to the extent necessary (e.g., adhering as closely as possible to the European Union’s “purpose limitation” requirements)
Appointing a knowledgeable data protection officer or a chief privacy officer to oversee the company’s privacy practices and ensure compliance with both domestic and international regulations
Reviewing and possibly amending contracts with third parties that process, control or maintain collected personal information to ensure proper safeguards and data breach reporting procedures
Ensuring that there are updated and tested data breach response policies and programs to ensure timely notification to regulators and consumers in the event of a data breach.

What is the impact?
At this point a US firm that may be subject to the regulation may ask “So what? Why do we care about EU data regulations?” Organizations that fail to comply can be fined up to 20 million Euros or 4% of their worldwide revenue. Violators will be placed in one of two tiers, with the higher tier costing violators up to over 20 million euros or 4% of the company’s net income.

With the European General Data Protection Regulation (GDPR) taking effect in May 2018, companies doing business in the European Union are scrambling to avoid the severe penalties from non-compliance with these stringent regulations.

Existing in a world with a global marketplace implies that GDPR cannot be overlooked and now is the time to ensure that your company is ready for how the changes may affect them. Consider the parts of the GDPR that will have the most impact on your business and begin with those areas first in your review and overhaul of your policies to ensure you are prepared for implementation ahead of the May 25, 2018 effective date of GDPR.

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