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Defense Against Cybercrime

Cyber News for Non-Technical Owners of Small to Mid-size Enterprise

Most of you stay in tune with current events and read about all types of cybercrime.  The media is full of articles ranging from the theft of financial, health, and personal information from large corporations to nation states such as Russia attempting to influence our national election through cyber intervention. So, it’s easy to sit back and think they are just after the “big guys” and therefore you are safe. WRONG! WRONG! WRONG! That thinking will get you into trouble.  Read on…

As a small to mid-size company, you most likely do business with a handful of larger firms, which is one of the reasons you are an attractive target to cyber criminals. You are the gateway to their larger targets. SMEs tend to have weaker network security, therefore cyber-criminal enterprises (CCEs) work to pierce your network, obtain information about your clients, and move up the chain to larger firms.  This is exactly how the famous breach of Target™ was conducted. The criminals infiltrated the system of an HVAC sub-contractor and obtained Target’s vital system credentials. With these stolen usernames and passwords, the actual hack was relatively easy. Note, hackers are persistent and cybercrime a numbers game. They make numerous attempts to achieve a hack.

Cyber criminals are getting more “professional” and sophisticated every day. The reason for their improved professionalism is basic economics.  Street crime is on the decline in most urban areas because the return is low, and the penalties are stiff. Conversely, the return on cybercrime is extremely high, and the penalties are relatively mild.  You can expect cyber-crime to skyrocket in the near future.  Think of the Internet and cyber-crime as the Wild Wild West… there are very few sanctions.

Here is something about cybercrime that blows even my mind. There is a new cloud service called RaaS.  That stands for Ransomware as a Service. It is a service supported by a system platform to assist criminal enterprises that use ransomware – a means of demanding payment in exchange for another party’s information that has been stolen or compromised by a hacker.  RaaS is far more efficient than ransomware enterprises (the bad guys) developing their own software. Instead, they use one of the RaaS platforms available to them and pay a commission of about 30% to the platform provider. It gets even better than that. The RaaS firm provides technical support, so if your ransomware victim (the good guy) has an issue creating a bitcoin wallet to pay the ransom, he or she can call a support hotline and they will be happy to guide them through the payment process. How nice of them. Now, if you are doubting what you just read, you read it correctly. I wonder if they track customer satisfaction statistics on their customer service representatives. Do you think they send out surveys?  “How did I do, on a scale from 1 to 10?”

To maintain a defense against cybercrime, you need to be cognizant of the threats to your business.  The threat is here and now and is ever growing. The return on investment for a cybercriminal enterprise (CCE) is too great an attraction, and the corresponding penalties for those caught are too mild. Many will never be prosecuted, or even caught.  Simply stated, cyber-crime generates a very high return on investment (ROI) with a very low risk, which is hard to resist for the bad guys.

You must be vigilant, defensive, and prepared to respond to an attack on your business in order to be proactive about cyber security. Firms that are better prepared, are better positioned to recover from an attack.

Domain Technology Group, Inc. is hosting a lunch and learn on cyber security and the dangers of cybercrime on October 28th in Philadelphia. You and your colleagues are welcome to attend to learn more on the subject. Please register on the Domain Events page.

 

To Cloud or Not to Cloud: That is the Question

How to Determine Whether or Not the Cloud is Right for Your Company

Any smartphone user with digital photos, movies, and music understands the advantage of backing up to the cloud. It’s hard not to love that your content is easily accessible whenever you need it — and yet it won’t fill up your valuable storage space. And how nice is the peace of mind that every last file is safely backed up if you lose your device?!

Nevertheless, some businesses are on the fence about taking a similar approach for their data, applications, and resources. If your company is one of them, IDC recently published an infobrief that could help push you over the edge. In a good way. “Sharpening the Small Business Competitive Edge: Is the Time Right For the Cloud?” covers everything from the basics — from how you access the cloud to how you pay for it — to five reasons why businesses like yours are making the move.

Bottom line? There is a clear association between Cloud use and revenue growth. Small businesses using the Cloud are 1.7 times more likely to have 10%+ revenue growth than small businesses in general.

No wonder cloud adoption is skyrocketing globally. Nearly 1/3 of all small businesses in India are there already. In the US, more than 15% of small businesses were expecting to add cloud services in 2016.

One of the cloud services you can now add is SAP Business One powered by SAP HANA. It’s a great way to make sure you’re getting the visibility, insight, and speed you need in order to grow sustainably. And, like the title of the IDC paper suggests, it’s another way to sharpen that competitive edge.  If you want, you can read more about it here — right after you back up those photos!

 

Trade Adjustment Assistance for Firms (TAAF)

Financial Assistance for Trade-injured Manufacturing and Distribution Firms

As the economical world shrinks, many US manufacturing and distribution companies are feeling the negative effects of increasing global trade.  If your company has suffered from the effects of imports in the last four years, there is a grant program designed to help you fight back and increase your business’ global competitiveness.  The program, the Trade Adjustment Assistance for Firms program (TAAF), is through the Mid-Atlantic Trade Adjustment Assistance Center (MATAAC) and is sponsored by the US Department of Commerce.  The mission of MATAAC is to help your trade-affected business increase sales and profitability dramatically.  Domain Consulting Group works with MATAAC to offer 50/50 cost-sharing grants up to $75,000 to allow your company to regain its global competitiveness via a new SAP information system.  Recipients of TAAF grants have demonstrated aggregate growth of over 30%, with proportionate growth in profitability.

For more information on TAAF, call Domain at (610) 374- 7644, ext. 7005, email us at info@domainconsultgroup.com, or visit our website at www.domainconsultgroup.com/TAAF.html.

 

Life Sciences

How to Run (and Grow) Simply and Profitably in the Life Sciences Industry

If you’re leading a company that operates in the Life Sciences industry, chances are you’re running on a computer system that doesn’t do everything you do.  You may be forced to improvise using QuickBooks ™, multiple information systems, and intricate spreadsheets.  In the words of the Rolling Stones, “You can’t always get what you want, but if you try sometimes, you might just find, you get what you need”.  Well, believe it or not, when it comes to information technology, you can get what you want AND what you need.  With SAP, this is achievable for the Life Sciences industry.

Before you get overwhelmed by the mention of SAP, let’s bust that myth right now.  SAP is NOT just for enormous companies.  As a matter of fact, SAP Business One was developed for the small to midsize enterprise (SME) market.  In addition, SAP Business One is an ideal enterprise resource planning (ERP) system for pharmaceutical, biotech, and medical device companies just like yours.  And with some help from Domain Consulting Group, you can be up and running on the ideal business management solution in just a couple months.

Domain and SAP understand that with the Life Sciences industry, quality and safety of products is an absolute top priority.  SAP Business One was designed with just that in mind.

Business One was designed to support the following:

  • Real-time, collaborative research and development
  • Financial excellence
  • Strategic sourcing and procurement
  • Improved patient safety
  • Fewer recalls and returns
  • Demand-driven supply networks
  • Multichannel sales, marketing, and service.

With SAP Business One, you’ll be able to innovate products, services, and processes more efficiently and effectively through faster market introduction and increased customer loyalty.

As a result of faster response to changes in patient needs, increased customer loyalty, and the ability to better manage finances, SAP Business One allows Life Sciences organizations to realize higher revenue and maximum profitability while assisting them in remaining compliant, despite continuously changing regulations.

Additional Benefits of SAP Business One for the Life Sciences:

  • Gain full visibility into your distribution network
  • Make better, faster, and more-informed decisions
  • Create a profitable product portfolio
  • Improve patient safety
  • Enhance company performance
  • Speed response times with state-of-the-art analytics
  • Streamline operations
  • Boost sales effectiveness with real-time market insights
  • Automate core processes
  • Utilize batch and serial traceability
  • Track expiration dates
  • Cut planning time in half!

As you can see, SAP Business One helps Life Sciences companies run better by enabling innovation for products, processes, and services to improve operational efficiency, quality of products and services, and patient outcomes.  With SAP and Domain Consulting Group, your Life Sciences organization can begin running better than ever before.

Contact us!