Cloud-based ERP solutions are not immune to fraud, cyber-breaches, or weak controls — which are all serious threats to modern organizations. One core issue facing CFOs is understanding their role in Cloud ERP security—i.e., ensuring that their organization minimizes the vulnerabilities of cloud-based platforms (which contain their most sensitive data), while still taking full advantage of the flexibility and visibility of the cloud.
KPMG recently surveyed 300 executives across multiple industries about their experience with cloud ERP security issues. Key findings of the KPMG ERP Controls Survey 2017: Risk Is Real survey include:
- 71% of executives are concerned about moving finance and human resource applications to a cloud ERP platform.
- 17% of organizations have had a cyber-breach associated with their ERP solution.
- 75% of executives plan to allocate 3% to 10% of the total cost of a future cloud ERP implementation to security.
Laeeq Ahmed
To shed some further light on the survey results, CFO.com sat down with survey co-author Laeeq Ahmed, Managing Director, Advisory, at KPMG, to discuss the risks and better understand how organizations can manage ERP cloud strategies to…
