Last Updated on March 30, 2022
Misuse of data and internal data theft is an increasing problem, resulting in major financial loss for companies and dampening their professional relationships. Today, businesses are spending a large amount of their revenue on compliance costs, which is only increasing over time. According to Gartner, worldwide, the spending on security and risk management crossed $150 billion in just 2021.
Often, companies find it difficult to manage their security due to a shortage of skills in-house, or wrongly configured systems, leaving data at risk. Furthermore, lacking the proper infrastructure to maintain and protect their technology is a common challenge.
To successfully address these challenges, the ideal solution would be to adhere to best practices, applicable standards, and agreed company processes while carrying out tasks. It may not always be easy, but having a system in place can help you avoid data breaches, fines, lawsuits, and other compliance-associated costs.
At To-Increase, we help organizations manage their security, user management, and audit processes more efficiently with our Security and Compliance Studio within Microsoft Dynamics 365 F&SCM. In this blog, we will discuss in detail the top 6 reasons to invest in our security and compliance solution to tackle all your regulatory requirements successfully.
Reasons you need to invest in our security and compliance solution
Having a proper regulatory compliance solution can help reduce related costs largely. Moreover, with the rapid advancements in the technology landscape and changing regulatory requirements (GDPR), it becomes even more important to stay ahead of the curve.
Let’s dive into the top 6 reasons how our Security and Compliance Studio can help your organization effectively manage security and compliance needs.
Role-based security management with ease
The Security and Compliance Studio allows you to record steps performed by business users to complete tasks. From that recording, you can easily match their role with existing security objects or create new ones to finalize the role. It also enables you to optimize user rights to the preferred user license, making the entire process of role matching Security and Compliance Studio not only time-efficient but also saving up costs in the long run. Moreover, given that you have complete control of your Subscriber License (SL) -status, you have the opportunity to make use of your licensing optimally, so none of your users have unnecessary privileges, eliminating the chances of you ending up with a more expensive license than you need.
Avoid data misuse and internal fraud
To reduce the risks associated with data misuse and fraud, Security and Compliance Studio lets you limit user rights so that no user has access to data that’s not required for their role. The solution provides workspaces, which include graphs/charts, created with ‘embedded analytics’ technology. This enables embedded insights into Segregation of Duties (SoD) violations and conflict areas, including non-compliant roles and users. These charts further offer actionable business intelligence (BI) with drill-down features, helping organizations with more detailed and specific data. Also, the SoD rules effectively capture the possible conflicts and violations that may occur during role creation and assignment.
Adheres to regulations like GDPR and SOX
Security and Compliance Studio proves to be the perfect tool for those looking to establish security policies that comply with ISO, GDPR, or similar quality management standards. The solution enables you to keep an audit trail of who can access what data or who could access it in the past. Furthermore, it makes the segregation of duties easy by providing the appropriate level of protection for the key information in your ERP system and controlling who has access to what data.
Manage changing security needs effectively
With constantly evolving security needs, changes or modifications to access requests can be a demanding process. Our Security and Compliance Studio makes this process easy, while increasing the traceability of any security changes in your system. The automatic matching control feature lets you comprehend and track the various roles and users by their assigned security levels. In addition, it allows you to automatically find the best matching security role by identifying any missing aspects in terms of access within a security role and the duties and privileges which may need to be added.
Supports business transformation and evolution
Re-engineering the organization's resource hierarchy and user tasks on a timely basis is not uncommon, especially in the age of digital transformation. This is because mergers & acquisitions, new entities, and new departments lead to a situation where standard security roles often become outdated and need upgrading. With the Security and Compliance Studio, you can automatically stay updated with all your security needs, besides easily adopting the new changes.
Perform quicker and detailed security audits
The solution significantly reduces time spent on internal IT audits because auditors are given dynamic access to all the relevant data via simple-to-understand representations. This data is automatically stored at the global, role, and user level, along with the list of current and historic security events, and logs, across all legal entities. The audit functionality is further strengthened by the security audit report, which facilitates the security administrator in the company to track changes for close to 40 different event types.
What can you do next?
Security and compliance go together and there is no one-size-fits-all when it comes to handling them. Sensitive data will always be at risk in one way or the other and therefore having security and compliance policies in place that work for you are crucial.
This is where an all-inclusive solution like ours can help. Our Security and Compliance Studio helps protect your organization’s sensitive data and ensures employees only have access to the information they require to perform their tasks in the best possible manner. The solution enables you to establish This can primarily prevent any security-related errors, data misuse, and fraud.
Now that you know how our Security and Compliance Studio for Dynamics 365 F&SCM can prove to be a great asset to your organization, you might want to explore it further. To understand it more in-depth, download the solution factsheet below.
The factsheet will guide you with:
- Security and compliance challenges
- Benefits offered by our Security and Compliance Studio
- The key features that make our solution stand out compared to others