We’re a multi-award-winning billing specialist – that’s our core business, as our customers and prospects know. Our sophisticated billing system enables customers to easily process high volumes of valuable data. They also know there is a lot more to our business than our software. Yes, we customise solutions to suit the unique needs of our customers across different industries; and yes, we specialise in simplifying billing in complex environments. We are also laser focused on security – for obvious reasons.
A sophisticated threat landscape
Cyber and data security are topics that are top on the agenda of every business, no matter the size and no matter the industry. For us as a trusted billing provider, these topics are especially important because of the nature of our business, the type of data we hold, and the way we deal with our customers. And, it goes without saying that this is a matter we take extremely seriously.
In the UK in 2022, eight out of 10 businesses suffered more than one breach, with one in five occurring through a compromised partner and 45% of the breaches happening in the cloud – according to the IBM Cost of a Data Breach Report 2022.
An ecosystem for secure billing
What does that all mean? Looking at some of our biggest verticals – telecoms, ISPs, CSPs, MSPs – billing is essentially an ecosystem made up of suppliers, customers, partners, and VARs. Bringing them all together in a billing system – like our Intelligent Billing platform. It is designed to make the process more streamlined and efficient. It provides all users with ease of access and automated services to speed things up.
It also holds critical information about the companies in the ecosystem. Any breach, leak or attack on a billing system can have devastating consequences for all involved. And a knock-on impact on reputation, customer trust and the bottom line. This is why security is so important for us; it is not and never will be something we merely do in order to tick a few boxes.
Lloyd’s of London recently announced that a malware attack on a major payment system (such as Visa or Mastercard) could cost $3.5tn. Of course, this is an absolute worst-case scenario where cybercriminals attack the software of the system, which in turn infests partner payment networks. It is a scenario focused on retailers and consumers, but it does serve as an example of the widespread implications of an attack on a bigger payment ecosystem and highlights the need for heightened security.
Security and compliance in the billing ecosystem
Here at PRD Technologies we take a practical and rigorous approach to ensure the safety and security of our customers and their data. We provide a fully compliant billing platform so that the entire ecosystem is assured that security is a given.
A solid base with embedded practices
Cyber security begins with a robust foundation; we are ISO27001 and ISO9001 accredited. ISO27001 is an international standard for an information security management system. This means the processes we have in place to mitigate cyber risk meet international best practice standards. We work closely with a cyber security specialist in the management and ongoing maintenance of our certifications, so we’re always aware of the latest requirements, threats and solutions. We also hold Cyber Essentials Plus certification. Cyber Essentials is a government-backed scheme, and our certification demonstrates that we have the technical controls in place to guard against cyber-attacks.
It is also worth mentioning our solid disaster recovery and business continuity strategy; all our systems and data have redundancy built into everything. In the unlikely event of an incident (be it a cyber-attack, flooding, storm, etc) our systems will be safe and accessible so that there will be the absolute minimum of disruption to operations.
We are also migrating our cloud operations to Microsoft Azure, which offers multi-layered security, state-of-the-art controls and added protection from cyber threats (such as DDoS) thanks to its 3,500 strong team of global cyber security experts.
A dedicated IT security team
However, it is not just Microsoft that has a team of experts; internally, we have a dedicated support team that ensure security is embedded in all our processes, technologies and our billing platform. Our team works closely with our security partner on maintaining our certifications, as well as with all departments throughout the business. We carry out security tests on our network, processes and technology, simulating different scenarios to ensure our systems are robust. We also believe that cyber security is everyone’s concern, so we make sure all our staff receive regular awareness training and clarity on our security strategy.
Trusted billing solutions
We have been in business since 2006 and have worked closely with customers across industries, from cloud and MSPs, to ISPs and telecoms. We are a trusted partner – not just because of our commitment to security, but also because of our offering and approach to customer service. Our experienced and knowledgeable support team is always on hand to answer questions, respond to business-critical issues and escalate more complex problems to our development team – all of which contribute to secure billing and peace of mind.
We are always happy to discuss our cyber security strategy, the processes we have in place and how our secure billing platform works. We believe security and compliance aren’t add-ons to your billing system – they are essential.
If you’d like to chat about security or how we can help improve your billing process, get in touch with us today.