ERP Disruption Leads Stoli to File for Bankruptcy
The recent impact of the ransomware attack at Stoli Group USA serves as a stark reminder of the importance of protecting ERP systems against cyber attack. Stoli Group USA, which imports and distributes liquor brands in the U.S., filed for Chapter 11 protection at the end of November.
Stoli suffered a data breach as a result of a ransomware attack in August 2024 that caused severe disruptions to its global business. The attack disabled the organizations Enterprise Resource Planning (ERP) system, forcing it to rely on manual bookkeeping for critical business activities. Stoli said that its centralized ERP systems would not be restored until at least the first quarter of 2025. The reliance on manual processes for business functions including accounting meant that the company could not comply with debt reporting requirements for its lenders, leading directly to the bankruptcy filing.
According to annual State of Ransomware report based on a study of 5,000 organizations across 14 countries, 59% of organizations experience ransomware attacks. Recovery costs increased by 50% in 2024 from the prior year. 56% of organizations report paying ransoms to recover data. Average ransom payments rose from $400,000 in 2023 to $2M in 2024.
The Cybersecurity Extension for SAP provides industry-leading protection for SAP ERP solutions including S/4HANA against cyber attacks including ransomware. The SAP-certified solution automates vulnerability management, patch management, custom code security, and threat detection and response to protect business-critical SAP solutions.