Transforming Accounts Payable: The Power of the ERP Communication Log

Image
In the fast-paced world of manufacturing, Accounts Payable (AP) often finds itself buried under a mountain of scattered emails, manual tracking spreadsheets, and "limbo" invoices. Implementing a structured communication log within an ERP system like Plex can revolutionize these operations, transforming a purely transactional department into a strategic business partner. Creating a "Single Source of Truth" The most immediate benefit of a communication log is the centralization of documentation . Instead of information being locked in individual email folders, every interaction regarding an invoice, payment, or dispute is stored in a complete chronological record. Audit-Ready Records : With timestamps and user attribution for every entry, your team can easily reconstruct the history of any transaction, even years later. Enhanced Compliance : This level of transparency is essential for meeting  SOX  requirements and internal audit standards, providing end-to-end visi...

How to Create a Strong Password in 2024




As we celebrate "Change Your Password Day" on February 1,2024 it is important to remember that  cyberattacks are becoming more sophisticated and prevalent and as result of this we need to adopt and follow best practices for password security to help us keep secure and protect our accounts.

Bitwarden, a password manager, recommends the following tips for creating strong passwords:

- Use a password manager to generate and store complex passwords.

- Use a unique password for each account.

- Use a passphrase instead of a password.

- Avoid using personal information such as your name, birthdate, or address.

- Make sure password is at least 10 characters long 

Randomness is the third pillar of password security. A password should not be predictable, and should not follow a pattern. It should be a random string of characters, numbers, and symbols. This makes it difficult for hackers to guess your password. 

Here are some statistics on weak passwords:

- In 2022, over  24 billion passwords were exposed by hackers 

- On average, it takes 14 seconds to type out a password .

- More than 80% of confirmed breaches are related to stolen, weak, or reused passwords .

- Nearly 60% of individuals make their passwords stronger as a result of noticing unauthorized access to their accounts or devices .

To protect your password from data breaches, here are some tips:

- Monitor your accounts regularly for any suspicious activity.

- Use two-factor authentication whenever possible.

- Change your password frequently.

- Use a password manager to store your passwords securely.

The Future of Passwordless Setup

Passkeys are a form of passwordless authentication technology that eliminate the need to enter your email address or password into login fields all around the web, making it harder for criminals to steal your credentials and get into your accounts .

 Passkeys provide the strongest protection against threats like phishing . Once you create a passkey, you can use it to easily sign in to  Google Account, as well as some third-party apps or services, and to verify it's you when you make sensitive changes.

I hope this information valuable while celebrating National Change your Password Day



Popular posts from this blog

From Dormant to Dangerous: Understanding the security risk of dormant user accounts

Image
  In today's digital era, the security of cloud SaaS systems is paramount. An often-neglected aspect of cybersecurity is the management of dormant user accounts, which can unintentionally become gateways for cybercriminals, leading to significant data breaches. The process of regularly auditing and deactivating these inactive accounts is vital to safeguard the integrity and security of an enterprise. By ensuring that only active, necessary users have access to your resources, you minimize the risk of unauthorized access and strengthen your defense mechanisms. This guide delves into the necessity of tackling this issue head-on and outlines effective strategies for managing dormant accounts to secure your valuable data assets. Risks Associated with Dormant User Accounts Dormant user accounts are ticking time bombs in the realm of cybersecurity. These accounts, often forgotten or overlooked after an employee's departure or during system migrations, present a significant security r...
Read more

Automate the schedule of AR invoices and statements using the Plex ERP Document Delivery module.

Image
Manual invoicing and emailing of customer statements can be a time-consuming and resource-intensive process. According to a study by Skynova, most businesses handle up to 500 invoices each month and spend at least five days processing invoices .  The same study also found that 57% of invoice data is entered manually and 49% of businesses require two to three people to approve an invoice. These manual processes can lead to delays in payment and inefficiencies in the accounting process. Invoicing automation can help reduce the time and resources spent on manual invoicing. According to Skynova,Only about half of invoices (52%) are received electronically. The rest are paper invoices that need to be physically sorted, entered, and filed, adding additional steps to the invoice process. The following module in Plex manufacturing allows automatically delivery AR invoices and customer statements via email which can lead to improvement and reduce of the waste of resources associated by manu...
Read more

World Backup Day: The Indispensable Role of Data Backups and Cautionary Tales of Data Loss

Image
World Backup Day is observed annually on March 31st, serves as a reminder of the critical importance of data backups in today's digitally driven world. This day underscores the undeniable fact that data loss, whether due to human error, system failure, or malicious acts by threat actors, is not a matter of 'if' but 'when'. The Unquestionable Importance of Data Backups In the present digital era, data is arguably one of the most valuable assets for both individuals and organizations. From irreplaceable personal photos and videos to crucial business documents and customer data, digital information forms the backbone of our personal and professional lives. Consequently, data loss can have devastating consequences, leading to significant emotional distress for individuals and potentially crippling financial losses for businesses. The Harsh Reality of Data Loss Data loss is a pervasive and inevitable occurrence in our digitally interconnected world. According to the 2024...
Read more