LONDON--(BUSINESS WIRE)--The threat of cybercrime is on the rise, forcing businesses to transform and enhance their security strategies in order to be able to properly protect against online threats.
This is according to procurement intelligence advisory firm SpendEdge, in their blog titled Cyber Security in the Time of WannaCry.
SpendEdge says, “Cybercrime is turning out to be a massive threat to operations across the world. Recently, one of the largest ever cyber attacks—the WannaCry ransomware attack—wreaked havoc and shut down tens of thousands of computers across the world. This ransomware cryptoworm targets the Microsoft Windows operating system, encrypting data and demanding ransom payments ranging from $300 to $600 in Bitcoin.”
Businesses must have a plan in place to effectively mitigate online risks and threats, says SpendEdge. They also note that “More information just means more risk, making organizations highly vulnerable to sophisticated cyber-attacks and data thefts by hackers and cyber terrorists. This can be initiated through head offices, at weak points in procurement and supply chains, or even through IoT-enabled devices with low protection.”
For more insights, get in touch with SpendEdge’s procurement market intelligence experts
Strategic procurement can be a critical factor in businesses’ ability to defend themselves from cybercrime and cyber-related threats.
Read the entire blog here: https://www.spendedge.com/blogs/cyber-security-time-wannacry-strategic-procurement-can-save-day
More information on the latest procurement trends and how Fortune 500 companies are adopting procurement intelligence to their advantage can be found using resources from SpendEdge. These resources are compiled from SpendEdge’s team of 500+ procurement solutions experts.
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred market intelligence partner for leading Fortune 500 firms and other leading companies across a variety of industries. Our strength lies in delivering actionable insights that help sourcing and procurement professionals get the right information in the right format, without any unnecessary frills.
Our procurement market intelligence coverage extends across critical processes of sourcing strategy planning and helps clients achieve more than just monetary savings. Our procurement insights are well-defined to meet the information needs of procurement organizations, and are aimed at helping category managers extract hidden values out of sourcing teams, suppliers, contracts, and processes.