In the age of digitisation, where data is the new gold, information security has become a priority for every organisation. SAP systems in particular, which are often the operational core of many companies, are critical from a security standpoint. A data breach from such systems can have catastrophic consequences, both financial and operational. In this article we discuss the costs associated with a data breach from SAP and how SNOK, working with SecurityBridge, can help provide effective protection.
Direct costs of a data breach
Direct costs of a data breach are easily measurable and include elements such as the cost of detecting and containing the breach, notification costs, legal and regulatory costs, and the cost of remediating IT systems.
According to IBM’s “Cost of a Data Breach Report 2021”, the average cost of a data breach reached USD 4.24 million - the highest figure in the 17 years IBM has been running this study. This represents an increase of nearly 10% compared to the previous year, when the average cost stood at USD 3.86 million.
The report also shows that companies which invested in security automation were able to significantly reduce data breach costs. The average cost of a breach for companies with a high level of automation was USD 2.90 million, compared with USD 6.71 million for companies with a low level of automation. This illustrates how important it is to invest in modern security technologies that offer advanced automation capabilities.
Detecting and containing a breach is the first step in responding to a security incident. In the case of SAP systems, which are complex and intricate, this can require significant resources and specialist expertise. SNOK, as an experienced SAP partner, is able to respond quickly and effectively to such incidents, minimising potential damage.
Legal and regulatory costs can also be substantial, particularly for breaches involving personal data, which are subject to strict regulations such as #GDPR. SNOK, thanks to its expertise and experience in SAP and cybersecurity, can help companies understand and meet these requirements - including through products such as SNOK BigEye, which is used to locate personal data across various systems.
Remediating IT systems after a breach can be costly and time-consuming. SNOK, through its SAP BASIS and cybersecurity services, is able to help companies restore normal operations quickly and effectively.
Indirect and long-term costs of a data breach
Indirect and long-term costs of a data breach can be harder to measure, but are equally significant. They include elements such as reputational damage, loss of customer trust, lost sales, and costs associated with the loss of key employees.
Reputational damage and loss of customer trust can be particularly harmful for companies that rely on SAP systems. Customers expect their data to be secure, and any breach of that trust can lead to customer churn and a decline in sales. SNOK, through its SAP cybersecurity services, helps companies build and maintain customer trust by ensuring the highest level of data protection.
Costs associated with the loss of key employees can also be significant. Employees who feel their data is not secure may seek employment elsewhere, which can lead to the loss of valuable skills and experience. SNOK, through its advisory services, helps companies understand and manage this risk.
How SNOK and SecurityBridge can help
SNOK, as a gold partner of SAP and a partner of SecurityBridge, is uniquely positioned to help companies manage the risk associated with SAP data breaches. Thanks to its SAP BASIS and SAP cybersecurity services, combined with trusted advisory in these areas, SNOK is able to provide comprehensive data protection.
In particular, SNOK works with SecurityBridge to deliver state-of-the-art SAP security solutions.
How SecurityBridge protects against data breaches
SecurityBridge is an SAP security platform that provides holistic protection across the entire SAP landscape, enabling threats to be detected before damage occurs. The platform offers a “one licence, one platform” approach covering all relevant aspects of securing SAP systems.
SecurityBridge is installed directly within the SAP NetWeaver ABAP system and requires no additional hardware. This increases protection without increasing the attack surface. The platform provides 360-degree visibility by interpreting data from security logs. SecurityBridge delivers in-depth security scanning for vulnerabilities in custom code, violations of system hardening standards and real-time threats, without the need to extract sensitive data.
SecurityBridge strengthens strategic investments in SAP by delivering advanced cybersecurity intelligence. The platform provides #SIEM integration, filtering security-relevant event information out of business transaction logs.
With the SecurityBridge platform, SNOK offers extended functionality and applications for continuous monitoring, improvement and maintenance of the security posture of the customer’s SAP landscape. Security alerts are delivered in real time, enabling an immediate response. The platform’s automation features reduce the manual effort required from the customer’s SAP department and deliver more reliable, precise results. SNOK’s core Security-as-a-Service offering gives customers peace of mind.
Summary
Securing SAP systems against data breaches is essential to protecting critical business data. Through its collaboration with SNOK, SecurityBridge offers comprehensive protection, enabling the detection of and response to potential threats before a breach occurs. Such a strategy allows companies to manage risk effectively and minimise the potential costs associated with data breaches. Data security is a priority, and with SecurityBridge and SNOK, companies can be confident that their valuable information is protected.