REGIONAL REVIEW
accessible through desktops and mobile applications as well as a web interface .
SaaS companies offer their products for a monthly subscription or a pay-asyou-go model , which may be cheaper than investing in on-premises software products upfront .
The Digital on Demand marketplace continues to grow . It continuously runs research to identify the key challenges faced in the digital transformation process by SMBs , and then sets out to find the correct providers that can solve those challenges .
Digital on Demand has also partnered with Microsoft to offer more solutions . The real value comes from Microsoft Cloud , as a platform to build and host solutions to not only enable and
empower businesses to do more , but also provide access to the tools and technologies that drive digitisation . Through Tarsus On Demand and Digital on Demand , SMBs can identify solutions that help them navigate their digitalisation journeys and ultimately drive business growth opportunities .
As for SMBs ’ biggest hurdle to digitalisation , the cost is not as prohibitive as it is perceived . Digitalisation is an increasingly important investment for businesses that are looking to drive not only efficiencies , but also create scale and competitiveness . Ultimately , it offers an excellent return on investment .
Digital on Demand encourages SMB business owners to explore the marketplace and see which challenges it will help solve in their business . And for SaaS-based solution providers to reach out and apply to have their SMB-focused solution listed .
Tarsus On Demand , is a specialist cloud platform provider . Using both SaaS and PaaS , Tarsus On Demand , through its channel , offers vertical platform solutions that are innovative , efficient , agile and enable companies to grow . �
Why African small and medium businesses need to worry about BEC
As technology advances , criminals are leveraging Artificial Intelligence and Machine Learning tools to craft sophisticated , convincing emails that mimic real individuals or organisations , persuading their recipients to make fraudulent payments or disclose sensitive information . Their targets have shifted to specific industries and businesses , including law firms , accounting firms , and manufacturing companies , which comes as no surprise given that such entities engage in highvalue transactions regularly .
What makes Business Email Compromise , BEC attacks particularly insidious is that they often go unnoticed until it is too late or are engineered in such a way as to exploit the urgency of demands and manipulate employees into acting quickly .
It is essential to keep an eye on BEC trends as small and medium-sized enterprises , SMEs increasingly become prime targets due , at least in part , to relatively weaker defences against cybercrime . One way to mitigate against BEC attacks is for businesses to have a resolute BEC incident response plan in place .
This plan differs from traditional incident response strategies by prioritising speed and addressing gaps in internal financial controls . It is a collaborative effort involving not only IT and cybersecurity specialists but also finance and accounting executives , particularly the CFO . This multidimensional approach helps to swiftly engage financial institutions and address potential control gaps that attackers exploit .
When a BEC incident happens , decisions need to be made quickly and under pressure , making preparation a key component of the response . An incident response team , led by the CFO , is instrumental in analysing , coordinating , and communicating during a BEC incident where clear roles and responsibilities are defined for all team members .
Key data points should include event logging , email forwarding logging , login logging , privilege escalation logging , API and OAuth2 logging . The process itself would likely necessitate swift execution , including notification of key stakeholders , locking down systems , analysing critical data ,
Ryan Mer , CEO eftsure Africa
investigating using available evidence , ongoing liaison with financial institutions , and notifying relevant third parties .
While a robust BEC incident response plan will become all but indispensable for modern businesses , the odds of recovering stolen funds are low . Given the odds , taking the right steps to prevent a BEC attack from being successful is critical , which would include having robust email security measures in place from the get-go .
Independent third-party verification systems like eftsure can offer an extra layer of protection by automating payment checking and supplier verification , saving time on manual processes and reducing human error . By implementing payment screening technology , finance departments can confirm the accuracy of account numbers before authorising fund transfers , ensuring funds reach the right account .
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