One ever-present reality for equipment rental businesses is the looming threat of cyber-attacks. While many small to mid-sized businesses are of the belief that it can’t happen to them, the reality of the situation is quite different. Reports indicate that cyber-attacks are on the rise, especially those that target personally identifiable information (PII).
In 2021, The National Association of Insurance Commissioners (NAIC) reported data breaches outpaced those in the previous year by 68%, while breaches involving PII, like Social Security numbers, increased from 80% to 83%.
Businesses need to be prepared for the eventuality of attack- otherwise they will be scrambling to recover after one.
Cyber-attack can take a wide variety of forms from traditional ‘brute force’ attacks to more subtle phishing schemes. Small to mid-sized rental businesses can be exceptionally prone to these sorts of attack due to the fact that they often come from email and text messaging, and users who aren’t trained to expect them can sometimes fall for them, if well crafted. See an example of an equipment rental company that fell victim to one of these attacks recently.
Analysts at Gartner stress a need for balance between people, process and technology, in order to successfully reduce cybersecurity risk. One of the methods for creating that balance is human-centric security design, which prioritizes the rose of employee experience – rather than technical considerations alone – across the controls management life cycle. Drawing upon the behavioral sciences, user-experience (UX) and related disciplines, it helps minimize unsecure employee behavior.
The best way to combat these dangers is with an agile, modern ERP platform with a cyber-security suite that is user-focused. For rental companies the choice is clear- Rental360 powered by Acumatica, the midmarket ERP platform ranked highest in usability.
How Rental360 Protects Businesses From Cyber Threats
A modern ERP platform connects every business system into one platform, allowing for across-the-board visibility through the entire business. This allows users to see the entirety of the system, allowing for potential issues to be pinpointed and addressed before becoming a problem. It is not uncommon for sharp-eyed users in one department to spot a potential hazard in another department, something they wouldn’t be able to do without the all-in-one visibility of Rental360.
Pointing out potential issues is one thing but handling them is another issue entirely. Rental360 features a powerful suite of cyber-security tools designed to protect businesses from attack. Rental360 features tools such as advanced firewalls, enterprise class MDR services, role-based access and security credentials, and password protection and management tools.
Additionally, all businesses powered by Rental360 have access to 24/7/365 support from Acumatica’s award-winning support and security team, including active monitoring for threats.
Many companies are hesitant to prepare for worst-case scenarios, but in the rapidly evolving digital age we find ourselves in, it really is a requirement for a successful business. By partnering with a modern, agile ERP platform in Rental360, rental companies not only protect themselves, but position themselves to be a leader going forward.