The pressing issue of Cyber Security and how Procurement is affected by it

You might often wonder why protecting data has suddenly gained so much importance.

The answer is simple, isn’t it? With the internet ruling our lives and everything we need at the tip of our fingers, giving out our personal data is no big deal. It is something we tend to give or rather are forced to give to get the desired benefits.

Now, this is all fine, but do we know if our data is in safe hands and not being misused?

Data breaches are happening quite often lately and this is because we are not paying enough attention to protecting our data. Cyber-attacks have been on the rise and have become a matter of national security for many nations, eclipsing even terrorism. Cyber security has been a growing concern for many organizations lately and rightly so.

Cyber Security in Procurement?

One might wonder how cyber security is relevant in the procurement industry. Digital procurement has automated many of the processes in traditional procurement. It has automated the end-to-end supply chain too. Digital supply chains house plentiful sensitive data like credit card data, supplier reports, financial reports, tenders, customer information, company budgets, forecasts, etc. This data is the life blood for a company and hence, is susceptible to data breaches.

Recently, ‘Big Data’ has gained popularity in procurement and therefore is vulnerable to cybercrimes. Both high volume and high variety of data sets are used for analytics and definition of user patterns and behavior. It also allows us to forecast trends and determine risks if any and mitigate those potential risks.

Procurement systems are an integral part of an organization. We know that digital supply chains are always at a risk of being hacked since they are home to copious information. Hence, if you value your organization’s sensitive data, then choosing the right procurement solution is of vital importance.

Should you be concerned?

So the question is, should you worry and if so, how much?  With news of data breach happening so often, you cannot afford to go wrong with choosing the correct system. Choosing the right procurement solution should be your priority if your company sits on a huge pile of data. Data breaches happen where there is abundance of data and choosing a procurement solution that has a history of never being breached should be your priority.

Protection of data has come into light even more after GDPR compliance was made mandatory. At Eyvo, we monitor our system constantly so that data breaches do not take place. Because we monitor our systems, if someone attempts to hack into our systems we are alerted. As a result, a disaster is managed well before it could hit us.

What we do and how we can help?

Eyvo has many mitigation levels to ensure the security and privacy of your data housed on our servers. The US Department of Justice “Privacy Shield” program to GDPR/NIST compliance to our support of 2FA and FIDO physical encryption devices.

Eyvo takes pride in being secure from both perspectives i.e. we are secure from the privacy perspective as well as the hacking perspective. Whilst we cannot predict the future, as we stand today, Eyvo’s systems have never been hacked and our data has never been breached or compromised. As mentioned earlier, we take precautionary measures and have multiple layers of security.

In our blog about GDPR, we spoke about how Eyvo is GDPR compliant since day one. Making our solution GDPR compliant has given you as our customer more power over what information we take from you. The information we take from you is secure and you will be asked for consent before we take any information from you.

Adoption of GDPR and having multiple levels of security at every step has helped Eyvo to be secure and hence, our data is always protected. We have experience in handling such risks and have always kept cybercrimes at bay. It is imperative that you choose a cloud-based solution that has a history of never being breached and make a smart choice. Afterall, we want your data to be secure and at the same time not let your eProcurement experience be affected.

Contact Us for more information!