How to Survive Inflation in 2025: The SME Business Guide

By

Ren Jie Oong

-

October 31, 2022

0

Table of Contents

How Will SME Businesses Survive from Inflation in 2025?
How Can Small Businesses Survive Rising Inflation?
Sell on Alibaba.com

How Will SME Businesses Survive from Inflation in 2025?

Small businesses are under pressure from inflation to either raise prices and risk losing sales or accept loans to cover some expenses in order to retain their profit margin.

Over 80% of small businesses have increased their prices since the pandemic in an effort to stay in business, and some have been forced to make drastic cost-cutting choices.

In addition to the poor profit margins caused by cost increase, small businesses that operate across borders have also had to cope with the increasing exchange rates as a result of anti-inflationary measures.

Anti-inflationary measures also increase cross-border taxes and tariffs, making imports and exports unfavorable for small businesses.

This article explains the impact of cost increase on small businesses, especially those involved in imports and exports.

1. Higher running costs

Small businesses will have to spend more money on the supplies they need for their businesses. For small businesses involved in imports and exports, this means higher shipping costs and tariffs on international sales.

Domestic costs are also rapidly increasing, especially in energy and electricity charges, which are the major drivers of cost increase. 73% of small businesses have said that increasing energy costs are negatively affecting their profits to a large extent.

Rising costs also create a cash flow problem for small businesses, making it harder for them to meet their short-term obligations. A report published by SCORE showed that rising costs are posing extreme difficulties for 35% of small businesses.

2. Market uncertainties

Even experts are unable to predict the direction of cost increase, whether there will be a sharp increase in line with higher pay demands by workers and consumers seeking to maintain their purchasing power, or a decrease in accordance with lower spending.

Your only choice is to plan for potential outcomes and implement strategies to deal with inflation.

3. Fluctuating exchange rates

Exchange rates will certainly fluctuate during cost increase. Depending on the anti-inflationary measures in your country, your domestic currency can either weaken or strengthen against that of other countries.

If your currency is strengthened, you would be able to import more, but your international sales would likely drop.

4. Higher tariffs and taxes

Increased taxes may be used to reduce inflationary pressures as taxes lower disposable income, which reduces demand.

While this is helpful for the economy, it could be horrid for small businesses because they tend to be less stable and have a lower chance of surviving long enough to enjoy the benefits of this anti-inflationary approach.

5. Supply chain disruptions

Supply chain disruptions were one of the challenges during the pandemic, which also added to the increased prices of goods and services.

However, these disruptions have been sustained, and the current cost increase makes it worse for small businesses, reducing their purchasing power and inventory levels and causing them to slowly wind up.

How Can Small Businesses Survive Rising Inflation?

Inflation is an external threat to the survival of small businesses. While you, as a small business owner, can’t do much to influence the level of cost increase, you can employ strategies or techniques that would help you cope with the rising inflation levels.

Some of these strategies are:

Analyze your business cost structure
Automate processes to improve productivity and efficiency
Analyze profit margins
Take measures to improve your bottom line
Stock up on supplies
Long-term contract with suppliers to lock in the price
Increase your customer acquisition strategies
Diversify revenue streams

Sell on Alibaba.com

The best strategy to deal with inflationary pressures may be to use e-commerce marketing. Online marketplaces make it easier for small businesses to minimize costs without compromising quality. One of these is Alibaba.com.

Alibaba.com is a superb cross-border selling platform known for its inclusion of and support for small businesses. Its sellers receive more than 400,000 sales requests every day and have more than 40 million active buyers from 200 different countries and regions.

Alibaba.com is a business-to-business marketplace. As a result, you could sign contracts with five companies that would each purchase at least ten products rather than attempting to sign agreements with ten clients who would each purchase just one or two things.

Alibaba.com provides small businesses with additional advantages, such as a classic no-code storefront where they can easily display their products for customers to choose from, in addition to helping them to cut operating costs. Open a seller account on Alibaba.com to enjoy these and a lot more.

Access the Global market through Alibaba.com today! Do not hesitate to approach us. Contact us for more information now!

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DDoS Attack: Is It Possible to Prevent This Cyber Crime?

By

Xiao Hui

-

October 28, 2022

0

In recent years, there has been a rapid increase in the number of cyber attacks that are classified as DDoS.

Previously, DDoS attacks were considered to be harmless nuisances carried out for fun by inexperienced individuals, and they were relatively easy to mitigate.

However, things have changed. DDoS attacks have become increasingly complex.

InfoSecurity Magazine estimates that there were 2.9 million DDoS attacks in the first three months of 2021, representing a 31% increase compared to the same time period in 2020.

DDoS attacks are almost always reported in the news. In fact, the number of DDoS attacks increased by 434% in 2021, which is 5.5 times greater than in 2020. The number of DDoS attacks in Quarter 3 2021 was 24% higher than in Quarter 3 2020.

According to Cloudflare, the first three months of 2022 saw a considerable rise in the number of DDoS attacks directed at the application layer, but an overall decrease in the number of DDoS attacks directed at the network layer.

Despite the decline, the observed volumetric DDoS attack grew by up to 645% QoQ and even prevented a new zero-day reflection DDoS attack with an amplification factor of 220 billion percent.

What Is DDoS Attack?

A distributed denial-of-service attack, also known as a DDoS attack, is a malicious attempt to disrupt the normal flow of Internet traffic on a particular server, service, or network by flooding the target or its surrounding infrastructure with Internet traffic.

This type of attack is known as a distributed denial-of-service attack.

DDoS Attacks Can Take Many Forms

DDoS assaults take on a variety of forms according to which tier of a computer network they are directed towards. The following are some examples:

The third layer is known as the network layer. There are many different types of attacks, such as IP/ICMP fragmentation, Smurf attacks, and ICMP flooding.
The fourth layer is called the transit layer. Attacks can take many forms, including SYN Floods, UDP Floods, and TCP Connection Exhaustion to name a few.
The application layer is the seventh layer in the stack. More specifically, attacks that use HTTPS encryption.

Important Tips to Prevent DDoS Attacks

DDoS attacks can be avoided if strong cybersecurity is in place.

Even though it is difficult to stop a hacker from attempting to initiate a DDoS attack, it is possible to decrease the danger of an attack and the potential damage it could do by taking proper precautions and preparation measures.

1. Develop a plan to counter DDoS attacks

In the event of a DDoS attack, the security team should develop an incident response strategy in order to ensure that staff members respond in a timely and effective manner.

The following should be included in this strategy:

Guidelines in a step-by-step format for responding to a DDoS attack
How to keep the business operating well
Make contact with the necessary employees and interested parties.
Escalation procedures and protocols
A list of all the tools required

2. Have Redundant Servers

When data is stored on multiple servers in different locations, it makes it more difficult for a hacker to simultaneously attack all of the servers where the data is stored.

Even if a DDoS attack is carried out against a single hosting device and is successful, other servers will continue to function normally and will continue to accept additional traffic until the compromised system is repaired.

Servers should be hosted in data centres and colocation facilities located in several countries to eliminate the risk of network bottlenecks and single points of failure.

A content delivery network, often known as a CDN, is another option.

Because a DDoS attack works by overpowering a host, a CDN might split the demand evenly across several other servers that are spread out across the network.

3. Ensure the Highest Level of Network Security

When it comes to protecting against DDoS attacks, having strong network security as part of a comprehensive cyber security strategy is absolutely essential.

People may rely on the following methods of network security to safeguard the organisation from distributed denial-of-service attacks:

Firewalls and intrusion detection systems both provide the function of acting as barriers to scan network traffic.
Anti virus and anti malware software for detecting and eliminating viruses and malware.
Endpoint security ensures that network endpoints, such as desktops, laptops, mobile devices, and so on, do not become a point of entry for malicious activity. Endpoints include: desktop computers, laptop computers, mobile devices, and so on.
Tools for removing web-based threats, blocking strange traffic, and searching for known attack signatures.
Tools that stop spoofing by checking to see if a message’s source address is the same as its origin address
Using different security measures and protocols, network segmentation divides systems into subnets.

4. Pay Attention to the Warning Signs

If a company’s cyber security strategy and cyber attack detection systems can quickly recognise the characteristics of a DDoS attack, the company can mitigate the damage caused by the attack.

The following are common signs of a DDoS attack:

Inadequate connectivity
The performance is somewhat sluggish
There is a significant need for a single page or endpoint
Strange activity originating from a single IP address or a small group of IP addresses

Keep in mind that not all DDoS attacks include a huge volume of traffic.

An attack with a low volume and a brief duration is likely to go unreported since it appears to be a random occurrence.

These DDoS attacks could be a test or a distraction leading up to a more severe breach (such as ransomware).

Because of this, being able to recognise a low-volume DDoS attack is equally as crucial as being able to recognise a full-fledged DDoS attack.

5. Constantly Monitor the Network Traffic

Continuous monitoring, sometimes known as CM, is an excellent method for tracing the origin of DDoS attacks. The following is a list of advantages offered by CM:

The use of real-time monitoring ensures that a DDoS attack will be discovered by the cybersecurity team before it can have any significant impact.
The team has a solid awareness of the typical traffic patterns and activities that occur on the network. When the team has a better understanding of how normal operations are carried out, it will have an easier time recognising unusual actions.
Continuous monitoring makes it possible to identify the signs of an attack even if it takes place outside of normal business hours or on the weekend.

6. A Reduction in Network Broadcasting

If a hacker wanted to maximise the damage caused by a DDoS attack, they would most likely send requests to each and every device connected to the company network.

Restricting network broadcasts between devices is one useful and effective strategy.

Limiting broadcast forwarding or, if at all possible, totally turning it off is a viable approach to stop a high-volume DDoS attack.

It is also important for companies to advise their employees to turn off echoes and to charge for services whenever it is possible to do so.

7. Prevent DDoS Attacks Using the Cloud

Although hardware and software installed on the premises are essential for mitigating DDoS attacks, cloud-based mitigation does not face the same capacity limits.

In this regard, cloud-based defence is able to easily expand and control even big volumetric DDoS attacks.

DDoS protection could be outsourced to a cloud provider like Exabytes. Working with a third-party provider has a number of benefits, the most important of which are the following:

The cloud service provider offers comprehensive services for the prevention of cyber crime, such as the most advanced firewalls and threat monitoring software.
The bandwidth of the public cloud exceeds that of any private network by a significant margin.
A high level of network redundancy may be provided by data centres thanks to the storage of duplicates of data, systems, and equipment.

All In All, About DDoS Attacks

The most effective strategy to protect against a DDoS attack is to respond to it as a group and to collaborate throughout the process.

Although it is not difficult to conduct a DDoS attack, the intricacy of these attacks varies widely and can have severe repercussions for the target company.

Because of this, businesses need to make sure they have a strong protection such as Acronis Cyber Safeguard and Sucuri Website Security (provided by Exabytes).

These products enable businesses to protect their data from any kind of cyber threats using a single solution.

Get in touch with Exabytes and speak with our Acronis Cyber Protect consultants for further details.

Detect to Protect Solution

Malware Protection for Beginners: Anti-Malware Tips & Tricks

By

Xiao Hui

-

October 28, 2022

0

Table of Contents

Malware Protection for Beginners
What Exactly is Malware?
Types of Malware Attacks
What Does Malware Protection Include?
What are the most effective strategies for protecting against malware attacks?

Malware Protection for Beginners

Most often than not, traditional antivirus products are ineffective at preventing the spread of malware.

Users may be oblivious to malware in zip files and may overlook sophisticated threats employing social engineering techniques.

According to Statista, the number of malware infections worldwide reached 2.8 billion in the first half of 2022. 5.4 billion malware infections were identified in 2021.

In 2018, 10.5 billion malware attacks were reported worldwide, which was the highest number in recent years.

Moreover, email-based automated malware attacks such as phishing, ransomware, spyware, and viruses may be difficult for legacy antivirus solutions to detect.

Infecting a system with malware to steal data or disrupt business is not a new practice; a malware attacker may employ a variety of methods to inject harmful code into a website’s source code.

What Exactly is Malware?

Infecting a system with malware in order to steal information or impair business operations is not a new tactic; it has existed since 1988.

Malware, short for “malicious software,” is a computer programme designed to infect the computer of a legitimate user and cause different forms of harm.

Malware can target computers and devices in a variety of ways and takes numerous forms, such as viruses, worms, Trojan horses, spyware, and others.

It is crucial that all users understand how to recognize and defend against all forms of malware.

Malware attacks arise in a bewildering variety of forms. Computer viruses are undoubtedly the most well-known type of malicious software, so called because they replicate themselves to spread.

Worms share a trait in common. Other types of malware, such as spyware, are referred to by their function: When spyware is implemented, it transmits sensitive data such as credit card numbers.

Today, the question we often have on our mind is “How can I scan my website for malware?“

Simply copy and paste the URL into the search box and click Enter to determine whether the link is secure against malware attacks.

The Google Safe Browsing URL checker will function as a malware scanner on the link and provide a fast assessment of the website’s credibility and reputation.

Google’s URL scanner could not be easier to use.

Types of Malware Attacks

Malware exhibits diverse behaviours. Malware can masquerade as email attachments or spy on users through their device’s camera.

1# Adware

Adware is an abbreviation for software supported by advertisements. Individuals may unwittingly agree to the download of adware. This spyware is responsible for unwanted pop-up advertising.

2# Worm

Worms are a type of malicious software that spreads from one computer to another without infecting other files on the same machine.

3# Virus

A virus is a type of malware that can replicate and spread throughout the system of a user’s device.

4# Ransomware

Ransomware is a sort of malicious software that restricts access to a user’s device or holds files for ransom.

Using ransomware, hackers demand payment from consumers in exchange for regaining access of their machines.

5# Spyware

Spyware varies from other types of malware in that it is not a technical term, but rather an umbrella term covering programmes such as adware, riskware, and Trojans.

6# The Trojan horse

A Trojan horse, or Trojan for short, is malicious software that masquerades as a harmless programme yet executes dangerous actions on the computer.

It is possible for those who download a Trojan to be unaware that they are installing malware.

7# Rootkit

A rootkit is a piece of software utilised by hackers to prevent detection while gaining unauthorised access to a computer. Rootkits are used by hackers to remotely access and steal data.

What Does Malware Protection Include?

Malware security defence provides an essential second layer of protection for a user’s machine or network.

A robust anti-malware software suite, such as Acronis Cyber Security, is the cornerstone of the technical defences of any home or business computer system.

A well-designed antivirus solution, such as Acronis Cyber Security, has a variety of capabilities. It ensures that each newly downloaded programme is free of virus.

It routinely scans the machine to detect and destroy any malware that may have slipped through. It is routinely updated to detect the vast majority of malware attacks.

What are the most effective strategies for protecting against malware attacks?

1. Refresh the frontline defensive positions

Follow security standards and best practises for applications, systems, and appliances. Utilize a password manager and generate passwords with at least 16 characters.

As soon as vulnerabilities are detected, systems must be patched immediately.

Acronis Cyber Security can be used to prevent malware attacks.

2. Conduct data backup and recovery testing

Preventing data loss requires the use of backup strategies. In a world of rapidly moving, network-based ransomware viruses and catastrophic cyber attacks, data security must be enabled.

3. Use email security

The bulk of ransomware attacks are delivered through email attachments or malicious downloads.

Employ a multi-tiered cyber security approach and a company-approved file-sharing application to prevent fake websites, emails, and attachments with vigilance.

4. Inform users about possible dangers

Teach users whom and what to trust, as well as how to avoid malware attacks and other scams. Implement two-factor authentication as the initial line of defence.

5. Segment the business’ network

Through network segmentation, you can reduce the likelihood of malware attacks spreading.

6. Use security analytics

Observe what is occurring throughout the network by running deeper and more extensive analytics on the network traffic.

Utilize real-time threat intelligence from companies such as Talos to comprehend security information and potential malware threats.

Final Takeaways

Having a malware attack plan in place is essential, regardless of whether one maintains website security for his clients or uses a third party.

Website security may seem unnecessary until you receive a call from a panicked customer. Experts can assist businesses in installing Acronis Cyber Security to prevent cyber attacks.

Sign up for Acronis Cyber Security with Exabytes to safeguard your data against cyber attack using a single solution that combines anti-malware, anti-virus, and anti-ransomware security.

Have questions? Get a free consultation with Exabytes cyber security specialists for additional information.

Cyber Security Solution

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Marching into NewRetail with Exabytes in 2022! Kudos!

By

Ren Jie Oong

-

October 28, 2022

0

September 29, 2022 is definitely a special day for Malaysian retail brands. On this day, more than 100 retail brands gathered together at Sunway Pyramid Convention Centre for nine hours, involving themselves in numerous rounds of insightful and fruitful discussion on the future trend of domestic retail, deeply analyzing the symbiosis between technology and retail, and learning and the synergy between people, goods and markets, to explore the integration of virtual and physical retail stores.

The “Decoding New Retail” summit organised by the Exabytes new retail team is Malaysia’s first large-scale retail summit. In fact, upon announcement of the event, it had received great, positive response from the entire retail industry. Not only it was supported by many highly regarded retail leaders, it had also attracted a great number of outstanding new brands to join the event.

Enthusiastic Participation from Over 100 Retail Brands

More than 100 brands and over 200 people had attended this momentous event. These brands include The Purple Cane Group 紫藤 , Oloiya 我来也, HAIRDEPOT, Herbal Farmer 药材农夫, Signature Market, Eat Cake Today Sdn Bhd, Xilnex, EasyParcel, iStoreiSend , MINISO Lifestyle Malaysia, MOG, AM PM Pharmacy Malaysia, Eureka, CCK Freshmart, Old Nanyang Coffee, 艾慕, OSIM International Pte Ltd, Bonia Corporation Berhad, Chin Loong, Amano, Pasaraya Mu, Jackstudio, O.K. Hardware, and more.

On the event day, the convention centre was jam packed; everyone was busy exchanging information and bouncing new ideas. All of a sudden, the place turned into a great venue for knowledge exchange.

KS Chan, founder and CEO of Exabytes, who were also at the event, officially designated 2022 as the very first year of New Retail, leading Malaysia’s retail brands into the new retail era.

KS Chan: 2022—THE VERY FIRST YEAR OF MALAYSIA’S NEW RETAIL

In fact, the term “new retail” was coined by Jack Ma. In fact, most of the established, well-known retail manufacturers in Asia have already implemented a New Retail model that integrates online and offline business models (OMO), including China’s Freshippo, Japan’s Uniqlo, Taiwan’s Ann’s, and more.

Since its founding 21 years ago, Exabytes has been helping businesses transition to the digital sphere. So far, it has accompanied more than 160,000 businesses around the world to grow on the road to digitalization. Moreover, Exabytes has constantly introduced the latest technology to domestic companies to ensure they grow abreast with the world.

However, as the world is moving towards new retail, many domestic merchants are still unfamiliar with New Retail. Therefore, under the leadership of KS Chan, Exabytes established the Exabytes new retail team to fully assist domestic retail brands to have a breakthrough in the post pandemic era and enter the new retail era. All these will be done through many diferent channels, including technology, education, promotions, and solutions, and more.

Exabytes, the event organizer, was excited and honoured to have Mr. Steven Ho, the godfather of New Retail in Taiwan, to give an insightful sharing with the audience via a video. In view of the profound significance of the summit to the Malaysian retail industry, Mr. Steven Ho generously recorded an exclusive 40-minute video to explain the global new retail trends and share the core methods of digital transformation to the audience.

Mr. Steven Ho also deeply analyzed that the market development and trend will become competitive and complex, and reminded the audience that now is the best time to enter New Retail and integrate online with offline (OMO) for a great future.

A NewRetail Experience Store

The summit had presented three solid discussion sessions, and representatives from different retail industry were invited to share and clearly describe the outline of the new retail Ecosystem to the audience. This includes making full use of the knowledge, technologies and solutions, realizing our own shortcomings and learning from inspiring success stories.

In order to give the attendees a better understanding of the new retail model, the organizer carefully arranged a new retail experience session. The exhibitors include the Purple Cane Group and Herbal Farmer, so that the attendees can experience the wonder of the new retail model and how to offer customers a better buying experience and improve consumers’ brand loyalty using the power of OMO (Online-Merge-Offline)

Purple Cane Group was established in the 1990s. As a veteran in the domestic retail industry, it did not stick to traditional business methods. On the contrary, it took the lead in moving towards a new retail model and became a role model for the domestic retail industry. They showed the audience how the company has successfully combined warm Chinese tea with the often-perceived cold technology to bring customers a seamless online and offline experience.

As a relatively new brand, Herbal Farmer’s booth showed to the audience how new retail solutions can change consumer stereotypes and transform a traditional Chinese medicine brand into a fashionable healthcare brand highly sought after by young people.

Do It First, Perfect It Later

At the “Decoding New Retail” summit, two highly regarded figures in the retail industry were invited to host the summit, namely Teh Eng Jin, the chief tutor of The Monster School, and Wong Kah Cane, the CEO Coach of Vistage Malaysia.

In addition to hosting the summit, they also shared their rich experience in retail, the challenges they have faced, and the knowledge and experience they have learned. Just like the Chinese saying, ‘listening to their nuggets of wisdom is better than reading many books for years’, the two selflessly shared the specific concepts and ideas for the future development direction of retail business.

In Mr. Wong Kah Cane’s sharing, he stressed that when venturing into New Retail, the right thing to do is shoot first and aim later. He believes that the first year of new retail has arrived in 2022, and retail businesses should implement the new retail model as soon as possible to reach new heights!

Teh Eng Jin also made a summary in the discussion session, reminding domestic retailers, “You don’t need to be very good to get started. Instead, you will become much better and powerful after you take the first step to start”. In short, the right way to do should be do it first, perfect it later. Let’s push for recovery with a more agile attitude.

9 Hours of Exploration into the New Retail Ecosystem

The lineup of guests sharing on the day also included Daniel Chua, business development manager of Xilnex, Joe Khoo, founder of iStoreiSend, Clarence, CEO of EasyParcel, Cheong Peng, VP of Digital Marketing at Exabytes, BC Ang, CEO of Eat Cake Today, Edwin Wang, founder of Signature Market, Raymond, Executive Director of Oloiya, Ben Lee, MRCA Council Member and General Manager of MINISO Miniso, Jeff, Executive Director of Hairdepot, and Joyce, General Manager of Purple Cane Group.

The 9-hour discussion and sharing brought solid and profound information to the audience, exploring every detail of the new retail ecosystem from the inside out.

As a result, the retail brands participating in this summit also learned useful strategies and tools to improve customer experience. This helped the audience realize the importance of big data analysis, logistics and transportation, warehouse management, and digital marketing to the growth of retail enterprises.

Technology has evolved again—artificial intelligence, big data, 5G, and Web 3.0 are coming one after another. The new technology will set off an unprecedented storm in the retail industry.

New Era, New Consumption, NewRetail.

For retail business owners who are still hesitating to take the first step, would you choose to jump on the bandwagon or be left out in the wave of time?

Pure eCommerce is dead, and NewRetail is here! 2022 is the first year of new retail in Malaysia. Wish to find out more?

Contact the Exabytes new retail team now to learn how to provide your customers with a unified and seamless shopping experience through powerful, automated new retail solutions!

Let our specialist provide you the best solution.

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An Ultimate Guide to Enterprise Cloud Solutions for Malaysians

By

Xiao Hui

-

October 27, 2022

0

Enterprise cloud technology gives companies new ways to cut expenses while boosting their adaptability, network security, and resilience.

According to a recent report, enterprise cloud spending is increasing, and 86% of businesses are already using cloud services.

It is vital that company executives comprehend how cloud technology may be utilized to assist organizations in achieving their commercial goals because this number is expected to keep increasing through the year 2026.

What Exactly is Enterprise Cloud Computing?

The Enterprise Cloud is a computing platform that allows organizations to have pay-per-use access to virtualized IT resources from public or private cloud service providers.

Servers, computing power (CPU cores), data storage, virtualization tools, and networking infrastructure are a few examples of these resources.

Processing power, computer memory, and data storage are three different types of cloud technology resources that enterprises undergoing digital transformation require flexible and scalable access to.

In the past, companies were responsible for paying for the setup and upkeep of their own networks and data centers.

Now that they have partnered with public and private enterprise cloud service providers, businesses may use these resources at a reasonable cost.

Through the Internet, enterprise cloud service providers give their clients access to computer resources.

To assist their clients in maximizing the advantages of the enterprise cloud, they could also provide software cloud management solutions or managed services.

Enterprise Cloud Computing Has 5 Essential Components

Full-stack platform cloud services that provide a complete infrastructure for every app, anywhere, at any size, using a combination of on-premises data centers and public cloud services.
Automated, zero-click processes and machine intelligence simplify operations.
Instant elastic consumption eliminates overprovisioning and prediction risk by enabling firms to acquire and utilize just the IT resources they need when they need them.
Automation is used for integrated security and control, which streamlines security maintenance and protects the whole infrastructure stack.
Application-centric mobility frees enterprises from infrastructure lock-in and allows them to operate apps wherever.

What Are the Different Kinds of Enterprise Cloud Architecture?

The majority of businesses now use some kind of enterprise cloud service, and many more are starting to do the same.

These enterprises must pick an enterprise cloud architecture that suits their needs as they migrate their apps and services to the cloud.

For the enterprise cloud, there are four popular models, each with unique benefits and use cases.

Private Cloud

In private cloud technology, a single business uses all of the hardware and software resources. Some businesses decide to build their own internal private cloud infrastructures.

Others decide to collaborate with a managed cloud service provider that hosts and secures the networking and hardware for private clouds.

Public Cloud

Cloud service providers provide public cloud services available to anybody who wants to subscribe through the Internet.

Today’s leading public cloud service providers are Google Cloud, Microsoft Azure, VMware Cloud on AWS, and Amazon Web Services (AWS).

These businesses are in charge of massive pools of virtualized computer resources in large data centers.

Hybrid Cloud

Hybrid cloud technology is being used more often by enterprises to suit their computing requirements.

Private cloud and public cloud services are combined in a hybrid cloud system.

Cloud orchestration solutions are used in hybrid cloud deployments to facilitate data transmission and communication across different services.

Multi-Cloud

A multi-cloud technology integrates the services of many cloud vendors or providers. Public clouds like AWS, Azure, and Google, as well as private clouds based on VMware, can be used. Faction suggests that enterprises convert to multi-cloud for a number of reasons.

Enterprise Cloud Computing: Pros and Cons

Enterprise cloud computing‘s main benefit is that it combines the best features of both public and private clouds.

Businesses now have the flexibility to employ platform services and IT infrastructure that give the benefit of public cloud services for corporate applications without sacrificing the value offered by private data centers thanks to enterprise cloud computing.

Cost reductions are also provided by the enterprise cloud. Businesses may have the infrastructure and services they require, without waste or shortages, by embracing the pay-as-you-go features of the public cloud and providing a shared platform to operate both old and new applications.

Enterprise cloud computing is protected from dangers via a firewall, which serves as a security barrier.

By using virtual servers, cloud technology protects actual storage devices from harmful on-site assaults.

The capacity for organizations to make security decisions on variables like a user’s job within a business, geography, the type of data, and so forth is perhaps the most significant benefit of enterprise cloud computing.

There are certain drawbacks, though. As with many cloud services, pricing models can be challenging to understand, and ownership issues frequently arise inside organizations.

Although business cloud computing offers far better control over security and access, there are still legitimate worries regarding data security as there is always a risk when sending data into the cloud.

How to Start Using Enterprise Cloud Computing

The best place to begin when discussing IT infrastructure and operations is by taking a look at the current cycle of IT replacement.

Enterprise cloud and hyper-converged infrastructure employ a just-in-time strategy to prevent capacity waste rather than worrying about running out of capacity throughout the cycle and having to make out-of-cycle purchases.

The fact that a single vendor assumes autonomous management over all the sub-sections, providing scalability and easy migrations, is what makes adopting corporate cloud technology so alluring.

Although several providers like Exabytes provide identical basic products, certain packages do differ somewhat and include helpful cloud services like 24/7 support centers and additional security barriers.

Watch out for providers who have a technology partner of their own. Microsoft has partnered with a number of businesses and made its public cloud available to them.

Enterprise cloud computing, despite its name, is not only for businesses.

Regardless of the size of their organization, any business that wants to profit from public and private cloud technology may tailor a corporate cloud to match the needs of both current and future applications.

Contact an Exabytes Professional now to know more about corporate cloud, cloud technology and enterprise cloud.

Enterprise Solutions & Services

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Hybrid Cloud Trends 2022 – Enterprise Cloud Transformation

SaaS vs. PaaS vs. IaaS: Definitions, Differences & Examples

By

Xiao Hui

-

October 27, 2022

0

Cloud computing transformation in the IT infrastructure is phenomenal, and global businesses including SMBs are leveraging the economies of scale from cloud computing infrastructure.

Over time the services offered by cloud service providers have evolved, and today there is a distinct set of cloud computing options available for businesses to deploy their IT infrastructure.

Some of the common sets of cloud computing models are SaaS, PaaS, and IaaS as offerings from the cloud service providers.

In this article, the emphasis is on understanding the key difference between SaaS, PaaS, and IaaS, as cloud computing solutions, and how each of them is different while having commonalities in its fundamentals.

Firstly, the commonality among IaaS, SaaS, and PaaS is the cloud service providers play an integral part in offering the services, and in all three types, the service offerings are from the third-party service providers, in the pay-for-use model.

The other commonality is how the systems are hosted in a remote environment, and the businesses use the IT services of cloud computing from their respective locations.

Let us understand the key differences between SaaS, PaaS, and IaaS here

SaaS (Software as a Service)

SaaS (Software as a Service) is how the cloud computing service providers or application service providers offer access to the applications on a subscription basis.

The subscription could be an annual fixed license fee or the pay-per-user model or flexible options.

Fundamentally, in SaaS services, the application is developed and managed by third parties and is offered on a subscription model for multiple businesses.

The key difference from conventional solutions is that the end-user businesses will not have any ownership of the application, and the application host controls the management of data.

The users must simply login into the application system and manage their business data, and service accordingly.

The benefit of using the SaaS models is about flexibility to use the applications systems on the user basis requirements and have the scalability option as and how there is more demand.

For example, there are scores of CRM (customer relationship management) or Point of Sale Billing solutions for restaurants, and many others available as SaaS solutions.

Some of the critical constraints in the SaaS model are high dependency on the service providers and there is need for more detailed SLAs (service level agreements) from the cloud service providers for reliability, and data migration security as necessary.

PaaS (Platform as a Service)

PaaS (Platform as a Service) is the intermediary format of cloud computing, wherein the cloud service providers offer effective platforms resourceful to the clients to develop their respective applications.

For small businesses developing their e-business systems, the PaaS kind of cloud computing solutions is very valuable.

In simple terms, the cloud service provider offers a platform and basic technology framework, which is useful for developers to create customized business applications.

In the SaaS model, though the feature options could be chosen or dropped, any changes to the process flow are not possible for the client application requirements.

Whereas in the PaaS model, the clientele uses the basic platform to create custom applications to suit their business needs.

Like SaaS, even in PaaS, the services are charged as a subscription model for the platform services by the cloud service providers.

The basic challenge in the PaaS environment for businesses is about the whole application being launched on third-party platforms, and the issue of data and application compatibility could be a challenge if the application is to be migrated to other cloud service providers.

IaaS (Infrastructure as a Service)

IaaS (Infrastructure as a Service) is the other kind of cloud computing solution, offered by cloud service providers.

The cloud service providers simply provide the IT infrastructure like hardware, networking, and another kind of integrated physical infrastructure in a remote environment.

It is up to the clients to deploy the operating systems, and security applications, and manage the hosting of applications, etc. in the IaaS environment.

More often, this kind of solution is opted for by businesses to avoid huge capital costs in managing the server and network infrastructure.

There are two distinct models in the IaaS, managed service offerings and unmanaged service offerings from the cloud service providers.

The managed service offerings will have some support from the cloud service provider in managing the applications hosting, maintenance, etc., but the unmanaged services are like taking a bare-shell office space for customizing to the business requirement.

On-Premises Solutions

The other model which is the conventional approach is the on-premises solution, wherein the physical server shall be managed at the client locations.

Though this can be a service offering from the cloud service providers, usually the businesses prefer to have such on-premises solutions managed by self and internal resources.

However, in the market the scope of on-premises solutions offered by the cloud service providers is possible.

More specifically in the case of applications having too sensitive data or data compliance boundaries are managed over this kind of on-premises solution offered as a cloud computing service.

Related: What is On-Premises Solutions?

Common Challenges Faced by Cloud Service Provider

Some of the common challenges across the cloud service provider offerings in IaaS, SaaS or PaaS, or on-premises solutions are the issues of reliability, security, and data migration.

Though the cloud service providers assure about the scope of data backup and security, still such backups are limited only to the host applications in the cloud computing, and not to the user data.

While the selection of the cloud computing models, it is important for the businesses to have insights into the cost of managing the applications, and hosting the solutions reliably, alongside the factors like data security and data migration requirements.

Thus, while a selection of cloud service providers for managing cloud computing happens, businesses need to focus on choosing the reputed and reliable cloud service provider to offer quality services in SaaS, IaaS, or PaaS applications.

Reach out to Exabytes Enterprise Solution to know more about the comprehensive range of cloud computing solutions offered by a cloud service provider.

With 24x7x365 tech support, a friendly customer service team and a professional sales professional to consult on matters related to solutioning, Exabytes Malaysia is the cloud provider of choice in Malaysia – be it SaaS, PaaS or IaaS as a service!

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What is Platform as a Service (PaaS)

What is Software as a Service (SaaS)

What is Software as a Service (SaaS) in Cloud Computing

By

Xiao Hui

-

October 27, 2022

0

Software-as-a-service (SaaS) is a type of cloud computing that makes use of an internet browser to offer cloud applications to end users together with all of the underlying IT infrastructure and platforms.

SaaS software may be the perfect solution for large organizations, small businesses, or individuals, SaaS software may be the perfect solution that:

Don’t want to be responsible for purchasing or managing platforms, on-premises software, or infrastructure.
Prefers less complex cost management via operational costs (OPEX) than capital expense investments (CAPEX).
Have difficulties that can be solved with a little adjustment.
Be in favor of SaaS software subscription arrangements.

Users may connect to and utilize cloud-based applications through the Internet thanks to the Software as a Service (SaaS).

Email, calendaring, and office tools are common SaaS examples (such as Microsoft Office 365, Google Workspace, Dropbox, Amazon Web Services).

How does SaaS function?

SaaS lowers consumers’ up-front expenses by doing away with the need to buy the software outright or make investments in substantial on premise IT infrastructure investments, as is the case with conventional software.

However, since internet connection speeds affect service performance, SaaS clients should invest in fast network infrastructure.

Application service providers (ASPs) like Google Docs and Office 365 are examples of the SaaS model, as are business services that provide integrated development environments, e-commerce platforms, and tools for customer relationship management (IDEs).

Software providers often select 1 of 2 prevalent deployment strategies, or perhaps both:

through a public cloud service provider, such as AWS, Azure, or IBM Cloud, which controls the cloud environment in which the SaaS software is housed, or in their own data center.

Multitenant architecture is used by the SaaS model to separate consumer data. Users interact with the program using a web browser, and the SaaS provider handles software updates, bug patches, and other general app maintenance.

Although SaaS software typically offers complete functionality, it may include bespoke connectivity using application programming interfaces (APIs)—such as REST or SOAP—to link to other features.

The SaaS model allows providers to more easily roll out new services to customers. Most SaaS programs are preconfigured plug-and-play solutions, and the SaaS provider manages everything underlying the app, including

Networking, storage, and data center servers are examples of hardware components.
Platforms, including operating systems, middleware, and virtualization.
Needs for software, such as runtimes, data, and the program itself.

Examples of SaaS (Software as a Service)

Popular SaaS examples include:

Google Workspace
Dropbox
Salesforce
Cisco WebEx
Concur SAP
GoToMeeting

Characteristics of SaaS (Software as a Service)

The SaaS model is best understood by comparing it to a bank locker, which safeguards each customer’s privacy while offering a service that is dependable and secure on a large scale.

1. Multiple-tenant architecture

A multitenant architecture where all users and apps share a single, centrally maintained infrastructure and code base.

2. Simple Customization with SaaS

The SaaS model allows users to quickly alter apps to meet their own business processes without having an impact on shared infrastructure.

As a result of the way SaaS is created, these customizations are unique to each organization or user and are constantly kept up to date throughout upgrades.

3. SaaS Superior Access

Accessing data is now easier from any networked device, and it is also simpler to control access rights, keep track of data usage, and guarantee that everyone is viewing the same information at once.

4. SaaS Utilizes Consumer Web

Anyone who is familiar with Facebook or Google will be able to recognize the web interface of typical SaaS programs!

The SaaS model allows for easy customization, making the weeks or months it takes to upgrade conventional company software appear hopelessly antiquated.

SaaS Trends to Watch

Organizations are now creating SaaS integration platforms (or SIPs) to create new SaaS software.

When SaaS goes beyond standalone software capabilities and turns into a platform for mission-critical applications, it is known as the “third wave” in software adoption.

SaaS is one of several cloud computing remedies for enterprise IT problems. Additional “as-a-Service” choices include:

Hardware, software, storage, and other infrastructure components are hosted by the provider using Infrastructure as a Service (IaaS).
Software as a Platform (PaaS).
The term “everything as a service” (XaaS) refers to a collection of all “aaS” technologies.

These SaaS services often have a per-seat, per-month fee depending on consumption, so a business only needs to pay for what they actually use, which lowers up-front expenses.

Benefits of SaaS for Your Business

Pay is just what you really use as SaaS service scales up and down based on consumption.

Although some SaaS apps need plugins, most may be operated straight from the user’s web browser without the need to download and install any software.

Access to advanced apps as one doesn’t need to buy, install, update, or manage any hardware, middleware, or software to give SaaS applications to consumers.

Get the employees moving quickly as the users may access SaaS programs and data from any Internet-connected computer or mobile device, SaaS makes it simple to “mobilize” the workforce.

The service providers have created SaaS programs that are compatible with many kinds of computers and devices, so businesses don’t need to worry about doing it themselves.

Additionally, one can manage the SaaS security risks that come with mobile computing without bringing particular expertise on board.

The data will be secure no matter what kind of device employee’s use, thanks to a properly picked service provider.

SaaS-enabled cloud service providers like Exabytes offer complete software solutions that you may purchase on a pay-per-use basis.

Customers use an app online, generally through a web browser, and businesses rent the license to use it for their own business.

The data center of the service provider houses all of the supporting infrastructure, middleware, app software, and app data.

In addition to managing the infrastructure and software, a service provider like Exabytes Enterprise Solution can guarantee the app’s uptime, security, and privacy with the right service agreement.

SaaS enables a company to launch an app rapidly and for a modest initial investment.

Get Exabytes eCloud for enterprise business cloud technology services like SaaS for your company’s growth with a team of managed professionals that are available around the clock.

To find out more, contact us now.

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What is Platform as a Service (PaaS) in Cloud Computing

What is Infrastructure as a Service (IaaS) in Cloud Computing

What is Platform as a Service (PaaS) in Cloud Computing

By

Xiao Hui

-

October 27, 2022

0

Cloud computing has become an integral part of business dynamics, and global businesses are moving fast into the cloud environment for managing information systems.

While the cost of infrastructure management is one of the benefits, the other dimensions of benefits are the flexibility and agility available for the businesses to host their information systems using different solutions like IaaS, PaaS, and SaaS.

While IaaS is the infrastructure as a service, and SaaS is the Software as a Service, the intermediary solution in the form of PaaS is a potential development, which is significant to the developments in the domain.

PaaS is the Platform as a service and is suitable for businesses to develop their systems over the platforms offered by the cloud computing service provider.

Technically, PaaS (Platform as a Service) is a kind of cloud computing solution offering developers the scope to build, deploy and manage software applications using the underlying infrastructure.

Evolving trends of cloud computing opened scope and flexibility to building blocks essential for applications management with the limited requirement of deploying code etc.

Serverless computing kind of developments in the PaaS services makes it easier for the development and deployment of information systems.

Commercial PaaS service providers charge customers to avail the resources partially or use the platform, based on the number of applications being hosted, or the other customization as several users, etc.

Usually, the PaaS offerings are templates or build packs that support the quick development of common application scenarios customized for functional activities.

As a result, the PaaS options are seen as resourceful for developers, as it offers a defined scope for the development and execution of applications.

There are scores of PaaS examples, that refer to the potential scope of the application system.

For instance, in the scope of a CRM system for business, there are some options like developing a CRM system right from basics and deploying or secondly, using the available CRM solutions on a subscription basis.

While the first one takes significant time and effort, the second choice is about a lack of customization.

As an intermediary to the above options, the PaaS as example like Salesforce, AWS Elastic Beanstalk and Windows Azure can be a very good solution.

Salesforce offers a backend platform essential to host the customized CRM solution for the respective businesses, and the development teams need to work around the available templates, and feature integration solutions to prepare a good CRM system customized for every business need.

Some of the building blocks highlighting the scope of PaaS services are:

1. Managed Infrastructure

The cloud service providers supporting the platform as a service offers the servers, operating systems, data centers, and networking resources essential for managing the application hosting on the platforms

Functionality in terms of design, testing, and development tools is the other critical aspect of PaaS service.

Primarily, in terms of source code editing, debugging, and compliance, the level of collaboration tools offered in the new-age platform as a service solution is phenomenal.

Middleware systems are the other critical support in terms of OS, and other licensing solutions essential for hosting the solutions.

In an illustrative PaaS example, if a customer wants to build a web application over a .net framework, in the conventional model, licensing can be a significant cost for the business.

But in the platform as a service model, the platform is offered by the cloud service provider and the application is a host on the licensed middleware environment, which is beneficial for all the stakeholders.

2. Scalability

In the case of businesses extending their business information systems, the scalability with the PaaS is better and can support economies of scale.

PaaS service providers offer flexible packages, wherein the systems can be developed according to the business needs and host personalized applications as necessary.

Pros and Cons of PaaS

PaaS has the scope for users to quickly work on the application development or custom support solutions to be deployed in a quick turnaround time.

Even without heavy load factors, the PaaS deployment can be highly resourceful for businesses.

PaaS solutions offered by the providers have the scope for a definitive approach to business logic rather in addition to addressing the infrastructure provisioning.

SLAs (service level agreements) in the offering from the PaaS service providers refer to the security and accountability factors from the service providers towards managing the patching, upgrades, and other functional aspects essential for the successful management of the business.

Even for cloud-native development requirements and can mitigate the requirements to develop a complete IT infrastructure setup.

Among the Demerits of PaaS

More often as the applications developed for empowering the business systems are launched on third-party platforms, any interruption to the hosted platform can hurt the performance.

Also, if the applications are not hosted in a customized set-up offered by the PaaS service providers, flexibility could turn challenge for the clients using the PaaS.

Services across the platforms are important for supportive PaaS services. One of the challenges in the PaaS solutions can be data migration from one platform to the other.

The challenge in the system is about compatibility between the platforms if it has to offer a smooth transition of applications from one to the other level.

Any futuristic changes to the applications must take place in the same environment, and cross-platform solutions are still in the nascent stages of development.

Pros and Cons are integral to all the solutions and services, and even in the case of PaaS, the PaaS examples refer to potential ways in which the systems could be managed in an effective environment.

PaaS solutions when chosen from reputed vendors, can help in accomplishing the service quality and robust application development for e-business systems.

With eCloud for Enterprise Business, the “pay as you grow model” is offered which helps optimize the benefits of PaaS.

Are you considering the PaaS as a potential choice for the development and deployment of your business applications?

Engage with the Exabytes Enterprise Solution in Malaysia to support you with more insights for decision making and custom application developments.

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What is Infrastructure as a Service (IaaS) in Cloud Computing

By

Xiao Hui

-

October 27, 2022

0

Table of Contents

What is Infrastructure as a Service (IaaS)?
Typical IaaS Business Scenarios
Top 5 Benefits of Using IaaS

Infrastructure as a service (IaaS), a form of cloud computing service, provides necessary computation, storage, and networking resources on demand and on a pay-as-you-go basis.

IaaS is one of the four categories of cloud services, along with server less, platform as a service, and software as a service.

According to Statista – AWS is the world’s biggest IaaS and PaaS cloud vendor, with predicted revenues of 62.3 billion US dollars in 2021, which are expected to increase to more than 80 billion US dollars in 2022.

The other IaaS examples in this industry are Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform, Alibaba Cloud, and Elastic Compute Cloud (EC2).

What is Infrastructure as a Service (IaaS)?

IaaS, commonly referred to as cloud infrastructure services, is a type of cloud computing in which end users are given access to IT infrastructure through the internet.

IaaS and server-less computing are frequently used interchangeably.

How virtualization, automation, and containerization are related to IaaS

An IaaS provider may simplify the developer experience by reducing the burden of setting up and managing servers.

Typically, virtualization, containers, and automation are enabled by cloud computing architectures.

As server management is abstracted away, apps may simply be written and deployed by developers.

Virtual machines (VMs) are entire environments that operate as virtual computer systems, complete with their own CPUs, memory, network interface, and storage, thanks to virtualization.

These are built on a real hardware system in a data center when using IaaS.

Every IaaS service is supported by IT automation, allowing for smooth deployment of the underlying virtual machines and associated infrastructure as well as scalability up and down to meet demand.

Orchestration is the automation of several processes and settings across collections of devices or systems. Developers using containers can benefit from specific IaaS solutions.

Kubernetes, an open-source container orchestration technology that aids in the huge-scale management of distributed, containerized applications, is one remedy.

It is available as a service from several IaaS providers.

Things to Take Into Account While Selecting an IaaS Provider

1. Security

Does the service provider have a solid track record and the means to stop and handle any security threats?

Do there exist established catastrophe recovery procedures that guarantee business continuity?

2. Affordability

Infrastructure as a Service an affordable choice because of its low overhead and lack of maintenance expenses. Similarly to paying a utility bill, you simply pay for what you use and how frequently.

Flexibility: buy only the parts your use case requires, then scale them up or down based on your company’s demands.

3. Control

Infrastructural decisions are made by the user.

4. Multitenant architectures

The supplier must ensure that customers can’t access one another’s data as IaaS providers frequently distribute infrastructure resources across many clients as needed.

5. Reliability

Performance and speed are primarily provider-dependent. Runtimes for the user will be impacted by any hardware or software issues on their end.

6. Service

What are the service-level agreements (SLAs) of the service provider—the least amount of time and effort the provider guarantees to resolve resource provisioning issues?

Typical IaaS Business Scenarios

1. Moving with a lift and a shift.

Infrastructure as a Service is the quickest and most affordable way to move a workload or application to the cloud.

Businesses may boost scale and speed, improve security, and lower the cost of running an application or workload without rewriting the underlying architecture.

2. Development and testing.

The team can swiftly set up and take down test and development environments, hastening the release of new apps.

Scaling up and down development and test environments is easy and affordable using IaaS.

3. Backup, archiving, and restoration.

The company saves money with IaaS by eliminating the capital expense for storage and the complexity of storage management, which frequently necessitates the use of professional staff to preserve data and comply with legal and regulatory standards.

IaaS (infrastructure as a service) is useful for controlling varying demand and rising storage needs. It may also simplify the planning and administration of backup and recovery systems.

4. Web applications

Infrastructure as a service (IaaS) offers all the necessary infrastructure, such as storage, web and application servers, and networking resources, to host online programs.

When demand for the apps is unexpected, the company may simply scale infrastructure up and down using IaaS and deliver web apps rapidly.

5. Computing at high speeds.

Supercomputers, computer grids, and computer clusters are used for high-performance computing to handle difficult problems with millions of variables or calculations.

Top 5 Benefits of Using IaaS

1. Reduces capital outlay and optimizes expenses.

Infrastructure as a service is a cost-effective option for moving to the cloud since it avoids the expense of setting up and operating a physical data center.

The IT staff can concentrate on the core business while reducing hardware expenses and upkeep thanks to the pay-as-you-go subscription models employed by IaaS providers.

2. Improves the scalability and performance of IT tasks.

Infrastructure as a Service enables businesses to grow internationally and handle peaks in resource demand.

By doing so, one may speed up the delivery of IT resources to workers anywhere in the world and improve application performance.

3. Improves supportability, stability, and dependability.

IaaS eliminates the need for ongoing software and hardware maintenance, upgrades, and troubleshooting.

The service provider guarantees your infrastructure is dependable and adheres to service-level agreements with the proper agreement in place (SLAs).

4. Increases disaster recovery and business continuity.

It costs money to achieve high availability, business continuity, and disaster recovery since these things need a lot of personnel and technology.

But IaaS can assist in lowering this cost if the proper SLA is in place. Additionally, it enables normal access to apps and data in the event of a catastrophe or outage.

5. Improved security.

An IaaS cloud service provider can provide better protection for the apps and data than a business could internally with the right service agreement.

IaaS helps companies to create and distribute new applications to users more quickly.

Once businesses have made the decision to launch a new project or product, IaaS allows them to quickly and easily prepare the necessary computer infrastructure, rather than waiting days or weeks.

Additionally, IaaS enables one to deploy the apps to consumers more quickly because you don’t need to build up the supporting infrastructure.

Businesses are able to avoid the expense and complexity of purchasing and operating actual servers and data center equipment thanks to IaaS.

A cloud computing service provider, such as Exabytes Enterprise Services, controls the infrastructure, while businesses purchase, install, configure, and manage their own software, such as operating systems, middleware, and applications.

If you want to know about Exabytes Infrastructure as a service (IaaS), contact us now.

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The History of Cloud Computing and Cloud Services

Types of Online Banking Scams (How to Secure Your Bank Account)

By

Xiao Hui

-

October 27, 2022

0

Businesses and consumers need no introduction to online banking scams in the global markets and more specifically in Singapore and Malaysian markets.

The exponential rise in financial scams over the last few years is alarming, and it needs more awareness among consumers and other stakeholders to avoid bank account scams.

To date, millions of dollars are lost by businesses and consumers to distinct kinds of banking scams.

Many initiatives are undertaken by banking regulatory bodies, government, and cybersecurity initiatives to scam check Malaysia.

A market study from Check Point Research signifies the rising incidents of banking scams, wherein the banking sector is attacked an average of 700 times a week, in the recent past.

The financial and banking industry is prone to a vulnerable range of attacks and intrusions, and it is important to have scams checked in Malaysia to support the propelling economy.

The perpetrators are getting their hands on the confidential information of customers and making use of such data for financial fraud across the segments.

To prevent such bank scams, consumers and businesses need to be aware of the distinct kind of bank account scams emerging in the market.

Prevention is better than cure, and if the bank account holders are aware of varied kinds of banking scams, open banking fraud in Malaysia can be reduced.

Types of Online Banking Scams, How to Secure Bank Account & Prevent in Malaysia

1. Identity Theft

One of the common phenomena is for hackers to target vulnerable systems or consumer usage devices to snap identity details.

Some of the common practices are people using the key-log applications in public computers to capture the keystrokes of user-id and password.

In the absence of multi-factor authentication, it is easier for the hackers for this kind of banking scam to use identity theft.

The stolen identity information is used for transferring funds from the bank accounts. This is one of the popular.

To prevent this kind of attack, one must rely on secured computers or other digital devices from the private environment for managing financial transactions and avoiding bank account scams.

2. Phishing Attacks

Among the popular cyber security challenges, phishing attacks are the major issue. In the phishing attacks, the hackers create a similar website as the banking sites replica to execute bank account scams.

Targeting the random and vulnerable segment, a luring message is forwarded to the customers using the search engine results or scamming URL links by email, etc.

When the users click on the banking page and enter login details, the page gets blank and often users ignore them.

The hackers use such data to enter the actual banking systems and execute financial frauds as planned for bank account scams.

Millions of dollars are lost by businesses and consumers for clicking on such banking scams and phishing sites.

To avoid falling prey to such bank account scams, one should avoid clicking on any URL links shared from untrusted sources or via email links, to have a scam check in Malaysia.

3. SMS Phishing

The other digital model of banking scams is popular in the form of SMS phishing used by hackers.

A typical message is sent from the replica servers like bank messages, and the hackers ask consumers to click on the links.

Using the link, they shall seek some information and transact funds unauthorized from the account.

In no time the consumers shall realize huge amounts getting transferred from their respective accounts.

Everyday thousands of consumers are receiving such messages, and it has become a common kind of bank account scam taking place in Malaysia.

Despite bankers educating their customers not to rely on such messages seeking pin or card information, these scams are prevalent.

Consumers need to be cautious not to click or respond to such SMS messages to avoid banking scams and check scams in Malaysia.

4. Payment Gateway Links

Ecommerce and mobile commerce are on the rise, and global businesses and consumers are keen on online transactions for purchases.

\With millions of eCommerce orders being processed every day, this becomes a good avenue for hackers to target banking scams.

In this modus, the scammers try to identify vulnerable eCommerce websites, and spam the payment gateway links to their servers.

When consumers enter their credit or debit card information and other details, scammers use it for fraudulent transactions in banking scams.

The other simpler way is about unusual or purposefully designed eCommerce links selling products at deep discounts.

When the users click on such sites and add products to the cart and make payments, transactions go through, but thereafter the site becomes unresponsive.

Consumers have lost money to such bank scams, and businesses need to ensure their eCommerce stores are not infected with malware or ransomware viruses to avoid bank account scams.

5. Tele-Calling Scam

Phishing calls are the other modus used by hackers for online scams. In the tele calling scams, using the stolen data of customers, hackers disguise as bank representatives and seek the debit or credit card details and passwords.

Consumers unaware of such malicious intent, offer the details over the phone, and their bank accounts scam takes place.

Consumers should avoid disclosing their bank account details or credit or debit card details over the phone.

6. Card Cloning

One of the old practices is debit or credit card cloning wherein the PoS devices or ATMs are induced with cloning strips.

When consumers or businesses use the card for transactions, the details are stolen and used for bank account scams.

To avoid such banking scams, and scam checks in Malaysia, consumers need to be very careful in sharing banking or other related data thru unsecured means.

Also, there are many cybersecurity solutions available to guard against secured transactions, which should be used by consumers.

Businesses must deploy robust financial cybersecurity solutions for securing their e-business systems to prevent banking scams.

Reach out to the Exabytes Malaysia team to know more about the challenges and have the right kind of solutions for better ecommerce cyber security solutions.

Secure for Enterprise Business

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