IT Application Controls and the benefits of automation

In 2022, the cost of a data breach averaged $4.35 million. And the number and scope of these breaches continue to grow. The leading contributors to this dramatic rise in data breaches are attributed to compromised credentials and the drastic increase in remote working. With remote work becoming the norm, organizations are scrambling to protect their data. And the best way to protect data is through solid application controls and an automated controls solution. What is an application?                      An application is a computer system that processes data for a specific business purpose. Applications are essential for businesses because they improve efficiency by streamlining business processes. A few common examples of applications are:   General ledger Payroll HR, and Inventory control Applications face three primary risks in handling data: confidentiality, integrity, and ...