Impact Of Ransomware On The Cycle Revenue â€Myassignmenthelp.Com

Question: Discuss About The Impact Of Ransomware On The Cycle Revenue? Answer: Introduction: The main analysis of mitigations required to address ransomware assaults on the revenue system of the organization is discussed in the report. The report recommends the controls required to reference them. In addition, the analysis also discusses a conclusion of weaknesses in the company and their addressing mitigations. Discussion: Motherboards and More Pty Ltd is a medium size, elite, Australian company. They are in charge of the generation of computer microchips, motherboards and graphics card. Furthermore, they are a key supplier to developers and repairers of computer parts in the whole of Australia. Motherboards and More Pty Ltd is available in business for a long time and uses a joined ERP system. The administrative working environments are situated in a centralized building, with the generation, recovery, and transportation divisions on the edges of the town. Overview of the revenue cycle: The organization gets a request from their clients for purchasing by utilizing email or phone. This is usually done through their website. These purchase requests are sent to the dock. The dock is mainly used for both the incoming and the outgoing deliveries. Nevertheless, the increase in the deals made were the reason for some blunders causing about wrong or delayed shipment to the clients alongside the nonappearance of records of returned items. Weaknesses: The organization has numerous weaknesses because of which the operations are facing delivery issues. The main weaknesses are the purchase made on credits, which can lead to less profit acquisitions. The weaknesses in the use of the dock for the incoming and the outgoing shipments lead to problems in operations. The utilization of one dock to convey or get the items can give issues in operation. Another weakness in control operations is the absence of databases for keeping up the records of the items (Zurich, 2017). This likewise makes issues prompting several operational issues. Lastly, the discounts of 2% can prompt fewer profits for the company as half of the customers are deciding to use this method of returning. Impacts of weaknesses: The weaknesses in credit purchase imply that a company is giving the item as a 30-day free trial. This leads to prevention of business operations for the first month for every item conveyed. As the profit originates from these methods, credit usages can cause less profit time. For an organization to give their items in credit can be an issue if the customers do not have a decent credit report. The utilization of the dock for deliveries is another weakness. The operations of the dock incorporate setting items in a sequential order. Nevertheless, the vast number of offers has the possibility to make counting of an extensive number of items which leads to errors even by the experts. The database absence is a major requirement as every one of the organizations needs to keep records of the approaching shipments (Zurich, 2017). The manual recordings of items may cause problems if the quantity of returned items passes the normal state. Lastly, the discount can prompt less profit acquisitions. The revenue cycle is affected due to such offers because people are opting for this mode in cases of returns. Controls: This section of the report is used to reference the mitigation controls that can be applied for the business to address such risks. The organization needs to reduce credit purchases as this lessens the rate of profit. In addition, the clients with great financial assessment scores are only to be offered credit for keeping the rank in the market (Chen and Tsou, 2012). This should be considered by the company to apply for credit assessments from financial companies to break down the evaluations of clients included. The company needs to needs to record shipments. This can be fused into the framework by embracing software which is available commercially. The software will be in charge of recording the shipments all through the dock. One such commercial software solutions is the On Time 360 ("Courier Software and Delivery Dispatch - OnTime 360", 2017). The company needs to keep a database for the products in the warehouse. This incorporates the account of all the obtained items, sent items and returned items. This will expel the problems that happen because of manual labor. The recruitment of database maintenance staffs are also to be considered. The 2% discount plan is to be disposed as the clients are opting for this arrangement if there should be an occurrence of return. The organization needs to pick alternative options like offering other offers (Teixeira et al., 2012). Internal control weaknesses Impact Mitigation Purchase on credits Hindrance in sales operation for the first month Review of credit scores Shipment using the same dock Losing count during high sales activity Tracking of delivery services by using software solution Absence of a database Discrepancies in manual recordings Application of a database solution High discount in return Customers always opting for this method leading to less profit Needs to apply alternative solutions Overview of the ransomware attack: Ransomware assault was viewed as the greatest assault which impacted the entire world. The procedure of this assault generally consists of encryption of vital records in the framework to avoid access to them. The infected devices showed messages of assault alongside a payment of 300$ to the assailant. The sum must be stored in Bitcoin. The bitcoin wallet address was incorporated into the show message ("'Biggest ransomware flare-up ever' hits about 100 nations", 2017). In addition, the sum increased after regular intervals. The message additionally demonstrated another message of multiplying the sum following three days if there should be an occurrence of not paying the sum. The most affected services were the medicinal services. They were compelled to disregard diagnosis to even the critical patients because of absence of their records. Mitigation of the ransomware attacks: Ransomware was the greatest cyber assault influencing 99 nations. This gives a prerequisite for the Motherboards and More Pty Ltd to reference their needs of security and guarantee the absence of problems (Sittig and Singh, 2016). The organization needs to guarantee improvements in security by the application of antivirus programs in their frameworks. These are extremely viable in recognizing the presence of security issues or malwares in the framework. Kaspersky and Quick Heal are generally used to address the issues. The company needs to make their employees aware about the presence security awareness. This includes making the workers aware of the malware or phishing endeavors (Sittig Singh, 2016). They are additionally to be taught with respect to the clicking of links from sources that may prompt breaches to the system. Lastly, the applications of patches to the framework are another practice that removes such ransomware dangers. The main reason for the occurrence of the ransomware attack was the absence of patches in the Operating Systems (OS) that reduced the defense against these assaults. These ransomware assaults exploit the vulnerabilities in the framework. Conclusion: Thus, it is concluded from the report that the company needs to analyze the recommendations discussed in the report. This will enable the company to apply them in their operations to ensure the effective business continuity. The ransomware attacks are also another threat discussed in the report and the company needs to address the solutions provided in the report to maintain their security levels. References: 'Biggest ransomware outbreak in history' hits nearly 100 countries. (2017).ABC News. Retrieved 14 September 2017, from https://www.abc.net.au/news/2017-05-13/biggest-ransomware-outbreak-in-history-hits-nearly-100-nations/8523102 Brewer, R. (2016). Ransomware attacks: detection, prevention and cure.Network Security,2016(9), 5-9. Chen, J. S., Tsou, H. T. (2012). Performance effects of IT capability, service process innovation, and the mediating role of customer service.Journal of Engineering and Technology Management,29(1), 71-94. Courier Software Delivery Dispatch - OnTime 360. (2017).Ontime360.com. Retrieved 14 September 2017, from https://www.ontime360.com/ Pathak, D. P., Nanded, Y. M. (2016). A dangerous trend of cybercrime: ransomware growing challenge.International Journal of Advanced Research in Computer Engineering Technology (IJARCET) Volume,5. Sittig, D. F., Singh, H. (2016). A socio-technical approach to preventing, mitigating, and recovering from ransomware attacks.Applied clinical informatics,7(2), 624. Teixeira, J., Patrcio, L., Nunes, N. J., Nbrega, L., Fisk, R. P., Constantine, L. (2012). Customer experience modeling: from customer experience to service design.Journal of Service Management,23(3), 362-376. Zurich, L. B. (2017). Service Operations and Management.