Did you know that Cybercriminals Are Businesspeople?
Understanding the business model behind cybercrime can be a helpful thought experiment to help CFOs allocate appropriate resources to cyber defenses.
Modern cyberattacks—such as sophisticated phishing attempts utilizing phony emails that look quite real—can be profitable even with a success rate as low as 1%. The cost of launching these attacks is low, and a single successful cyberattack can yield thousands or even millions of dollars in revenue.
Having a proven, predictable business model has enabled cyber- criminals to scale and attract partners. They share a portion of the data they obtain through hacking (or the profit from selling stolen data) with individuals or entities interested in getting a piece of the action while minimizing their exposure to prosecution.
A successful cyberattack is usually monetized either through stealing data and selling it on the black market or holding data hostage and exacting ransoms. The second scenario is a great revenue stream for hackers because it doesn’t require a buyer. Ransoms are typically paid in bitcoin, which most companies don’t have on hand. To facilitate the process, many of these gangs now offer customer service to provide assistance in paying the ransom.
Most hackers are very clearheaded and rational. They are as organized as and your competitors. Such predictability means the threat they pose can be coldly and rationally managed.
The Value of a Company’s Data
At the user level, that means “exercising judgement and prudence while dealing with unknown data,” such as emails, attachments, PDFs, and JPEGs. At an organizational level, it means ensuring every user “is running the most up-to-date (operating system) versions and that incoming and outgoing data are properly vetted using state-of-the-art security procedures.”
Any item a company devotes resources to insuring or securing typically has a known value attached to it. In order to guide a sound cybersecurity strategy, it’s important to take stock of how much the organization’s data is worth, both to you and to others.
In addition to the well-established marketplace for stolen personal information, consider the value of your company’s data if it were obtained by competitors. Play out a hypothetical scenario in which your company’s trade secrets, client list, or proprietary information is made public and how that would affect your business in the long term.
The best-case scenario is that the company has a robust backup system and is able to restore its data in less than a day. The worst-case scenario is that no backup is available, so a ransom is paid, but the hackers still do not unlock the data and it is lost permanently. Consider the cost to your business of each of these possibilities and everything in between.
Assessing Risk, Preventing Loss
A common rule of thumb is that at a minimum, businesses should invest at least 3% of their total IT capital expenditures in cybersecurity. Industries with particularly valuable data such as finance, health care, and manufacturing require a greater investment.
This budget is usually applied to a combination of technology and training, because hackers achieve their success rate most often through user error someone inadvertently letting them into the system—rather than technological failure alone.
Since the threat of cyberattacks is relatively new, it can be overwhelming to determine an appropriate course of action. A good starting point is the understanding that cyberattacks on businesses have been increasing year over year this entire decade not because of some spontaneous crime wave, but because cyber criminals are essentially the new mafia.
Looking at your company through their eyes and evaluating the overall situation with the same detachment they enjoy puts you on more even footing.
Having a backup architecture that involves making multiple point-in-time copies of data across geographies provides protection against such eventualities. Moreover, the backup architecture must be smart enough to make copies of not just the date but the metadata as well. An organization that was backing up data and metadata in this manner would have been impervious to all the recent ransomware attacks.
As a Microsoft Gold Certified Partner, Accountnet helps companies get up and running with Microsoft Dynamics. We don’t just install and configure the software—we train your accounting staff to use it to create the reports – so they can analyze data as needed. Our solutions give both technical and non-technical employees the information required to do their jobs well—wherever they are, in whatever application they choose to use. Take the next step toward growth with Microsoft Dynamics GP to gain simplicity, value with Microsoft Dynamics GP. Contact us at Accountnet to learn more (212) 244-9009.
You and your employees both have a desire to grow your business. In order to reach this goal, you need innovative solutions to evolving problems. Microsoft Dynamics SL delivers long-term value with a solution that is easy to adapt and connect with independent software vendors (ISV’s), other line-of-business applications, and the Microsoft technology that you already use in your organization. Comprehensive out-of-the-box features and quick, customizable options to get you up and running fast and affordably.
Microsoft Dynamics SL has powerful financial management capabilities in the Multi-Company module that can meet the unique needs of your organization. Easy to learn and effective in use, Microsoft Dynamics SL works with the technology systems you already have to deliver long-term value without a complex and costly implementation:
Tailor to your system to benefit your company:
Monitor, analyze, and report on multiple companies or functional divisions within your organization. Focused and flexible capabilities help you set up multiple companies, run processes, close books, and report results by company or in a consolidated company.
Configure Microsoft Dynamics SL Multi-Company to operate with several companies in a single database, multiple databases, or both. Bring your businesses together — whether centralized or decentralized and geographically disbursed — while automating time consuming and error prone tasks.
With Microsoft you don’t pay per company, unlike Oracle.
Process transactions seamlessly create due-from/due-to entries automatically to keep your intercompany transactions in balance. Companies in separate databases and locations can easily transfer intercompany general ledger transactions from one location to another, so that accounting entries are applied to the correct company, while ensuring balanced sets of books.
Centralize your cash control Assemble accounting and reporting into a single location or company, and apply payments, write checks, or take requisitions for subsidiary companies. This helps reduce duplicate efforts and training from location to location and maintains the inter-company balances between the subsidiary and the central companies for full reporting and tracking at the transaction level.
As a Microsoft Gold Certified Partner,Accountnet helps companies get up and running with Microsoft Dynamics. We don’t just install and configure the software – we train your accounting staff to use it to create the reports they need, so they can analyze data as needed. Our Microsoft solutions provide employees the information they need to do their jobs well — wherever they are, in whatever application they choose to use. Take the next step towards growth with Microsoft Dynamics SL in the cloud or on your servers—the choice is yours.
Microsoft Dynamics is available exclusively through Microsoft Dynamics Certified Partners. These Value Added Resellers provide planning, implementation, customization, and support services aimed at optimizing the solution for each customer’s specific needs. Regardless of how and where the software is deployed, customers have the choice of purchasing their Microsoft Dynamics solution.
Microsoft Dynamics 365 Business Central is a business management solution that’s connecting people and processes like never before. From day one, it makes ordering, selling, invoicing, and reporting easier and faster. Turn your multiple disconnected systems into one. Boost efficiency with automated tasks and workflows—all from within familiar Office tools like Outlook, Word, and Excel. Get a complete picture of your business and make better business decisions, with built-in intelligence when and where you need it. With your business running in the cloud, it’s easy to change and adapt at your own pace without involving IT. Start with what you need, quickly and easily, then be ready for growth.
Microsoft Office 365 Dynamics GP works with Office and Office 365 to extend the value of your business solution with enhanced productivity, collaboration, mobility and business intelligence. Dynamics GP utilizes existing functionality to you give you more value such as sending document to SharePoint or OneDrive, word documents, refreshable excel reports, PowerBI reports.
Microsoft Cloud Dynamics GP gives you the power to choose how you want to utilize cloud technologies. You can deploy in the Microsoft cloud on Microsoft Azure in either a public or private setting. If you aren’t ready to fully go to the cloud you can do a hybrid. This flexibility gives you choices now and into the future. Azure gives you the flexibility and enterprise-class security, reliability and scalability.
Multi-Company Monitor, analyze, and report on multiple companies or functional divisions within your organization. Dynamics GP is a Focused and flexible capabilities help you set up multiple companies in one or more databases, run processes, close books, and report results by company or in a consolidated company.
Accountnet helps drive the digital transformation of your business on your terms. As a Microsoft Gold Certified Partner, Accountnet helps companies get up and running with Microsoft Dynamics. Our Microsoft solutions provide accounting personnel the information they need to do their jobs well — wherever they are, in whatever application they choose to use. Take the next step toward growth with Microsoft Dynamics 365 in the cloud. Contact us at Accountnet to learn more! www.accountnet.com
You’ve built your company from the ground up, turning an idea into a full-fledged business. Even if you have staff in place to manage various aspects of the day-to-day operations, it’s imperative that you stay connected to the decisions and actions your company takes.
For many owners of small and midsize businesses, that’s long meant staying in the office—often at the expense of personal and family time. What if it could be different?
Get away without leaving your business behind. How would your work style (and vacation plans) change if you could easily manage financials, approve invoices, or view reports while on the go? Your time is valuable; with productivity tools and business data at your fingertips, you and your team can work more efficiently in and out of the office.
The reality is that sometimes you can’t fully unplug, but that doesn’t mean that you need to stay chained to your desk to stay productive. Imagine being seamlessly connected to your team and your business data from any device, virtually anywhere you need to be.
Business has changed. During the past decade, mobility has become an essential tool for businesses in empowering workers and connecting with customers. Mobility is no longer a future concern—it’s an essential part of staying competitive today and keeping your employees happy.
With data from your accounting software seamlessly and securely accessible on any device, you now have a fully mobilized team at the ready and you can manage your finances and operations without having to spend your vacation at the office.
A trusted platform for mobility. Microsoft Dynamics GP, implemented by Accountnet to fit your organization’s needs, can help you not just do more, but achieve more. Many businesses are already using Microsoft Dynamics GP to transform not only their accounting operations, but their day-to-day business activities. For example, you could give your team members access to up-to-the-minute resource projections from any device so they can accurately make decisions on the go.
Something to do before you take your vacation. Dynamics GP can help you stay connected and productive by bringing your office with you everywhere you go. Not sure where to start? Accountnet is here to help navigate mobile offerings and define the technology strategy that works best for you.
As a Microsoft Gold Certified Partner, Accountnet helpscompaniesget up and running with Microsoft Dynamics. We don’t just install and configure the software – we train your accounting staff to use it to create the reports they need, so they can analyze data as needed. Our solutions give both technical and non-technical employees the information they need to do their jobs well — wherever they are, in whatever application they choose to use. Take the next step towards growth with Microsoft Dynamics GP. Visitwww.accountnet.com to learn more.
Microsoft Dynamics products can help businesses be more productive and their investments in existing systems last longer. At the Accountnet Cloud, you’ll find information including featured content, blog posts, product fact sheets, executive biographies, event images, product demos and screenshots. We begin this initial process with an extended relationship analysis (ERA) review.
Get up and running quickly- More than just small-to-midsize business accounting software, Dynamics GP is an accounting solution that makes it easy to start with only what you need now, and then adapt as your needs change. It’s flexible, configurable, and designed to grow with you.
Dynamics GP includes: Financial management and accounting·
– Manage your cash, assets, budgets, and banking—with built-in analytics and account-level security.
Track and manage your expenses, purchase orders, requisitions, and vendor invoicing.
Business intelligence and reporting
Get real-time visibility and analytics to track performance and act with insight.
Keep up to date with Microsoft technology, with the help of Analytics in Power BI and other evaluation tools.
The past decade has brought extraordinary changes to the way people interact and expect to do business. The Internet has matured, mobile devices are part of everyday life, and cloud-based solutions have gone mainstream. New trends, enabled by these technology advancements, are emerging at a rapid pace. But is your business ready?
The good news is that the tools that help businesses capitalize on this digital transformation are more accessible than ever before. But what is digital transformation? A simple definition is the use of digital technologies, such as mobile, social, analytics, and cloud to transform how people work and businesses operate. Read more…