Cory R. Cox, MBA’s Post

Here are 2 things that I’ve taken away from the CDK Cyber Attack: 1. Things are so much simpler than they’re made out to be. This sudden change in my day-to-day buisness has forced me to learn my inventory more then ever before. My understanding for specifications and payments has grown rapidly in a matter of days. This has streamlined my sales process and forced me to quickly identify what vehicles are a right fit for my clients budget. 2. Winners in my organization have stood out more than ever. The people in my work place that are progressive and willing to adapt are doing whatever it takes to make new processes. Winners will adapt to change while the rest wait for someone or something to fix their problems. #carbusiness #cdk #growth #carsales

CDK Global a nationwide provider of POS/logistics management software for the automotive consumer industry is reporting a cyber attack and has been forced to take a majority of their systems offline. The outage is impacting dealerships, body shops, mechanic and maintenance services all over the country. Users are unable to recall outstanding jobs, perform parts searches or retrieve vehicle information just for starters. Why is it important? What if you're a single parent, your car is in the shop for an overnight repair. Its tough but you made it work by getting a ride home and carpooling to work next day. Now you get a call from the dealership, they were unable to order the parts they need, something about a cyber attack and their computers are down, could be a few more days..... These attacks are not distant inconveniences impacting companies you've never heard. The volume, intensity and focus of breaches during the first 6 months of 2024 is unprecedented. I touched a bit on my thoughts as to why this is happening in an earlier post but the important thing to note is that IT IS HAPPENING. I have antivirus is not a strategy anymore. It simply is not. The world has marched on ahead of us and did not pause even for a moment to ask us if we were ready. Ready or not, cyber crime is knocking at your very doorstep.....are you prepared? Harden the Target, Stay Vigilant! https://lnkd.in/e2bERxMB

🔒 Securing Automotive Cybersecurity: Lessons from the CDK Cyberattack Today's automotive industry is navigating complex cybersecurity challenges, vividly illustrated by the recent cyber incident impacting CDK Global and its extensive dealership network. At Darktrace, we offer a proactive approach to cybersecurity with our ActiveAI Security Platform. Unlike traditional reactive solutions, our platform continuously learns and adapts to your unique business operations, autonomously detecting and responding to both known and unknown threats in real-time. #CyberSecurity #AutomotiveIndustry #CDKGlobal #Darktrace #CyberDefense #AI #CyberAttack #ActiveAISecurity

We see time and time again how security and specifically cyber security is a cost for everyone whether you are an individual or a business. So it makes sense to minimize costs and maximize profits. Right? The best part of our use of technology is that we have not seen the worse yet. Just ask a professional in cyber security risk management and you will get the facts. It's definitely a good practice to invest in security to minimize disruptions. Time will be the judge of how we grow in the era of A I, LLMs, and machine learning with cyber risks that continue to evolve and become sophisticated.  https://lnkd.in/gNQp2bPe

Impact of cyber attack on local dealerships: Jim Wilson Chevrolet faces software outage, reverting to manual processes. Restoration and customer data security in focus. #CyberAttack #AutoIndustry #BusinessContinuity #cybersecurity #security #news https://lnkd.in/esfdTWUM

🔰 Do you think the CDK outage is just about cars and dealerships? Think again! 🔰 An insightful analysis by Elisabeth Buchwald from CNN has shed light on the massive impact a recent cyber attack on CDK Global has had on the automotive industry and beyond. Full Article - https://cnn.it/3L2mWvr Here are some key highlights: 🔍 What Happened? CDK Global, a software provider critical to the operations of nearly 15,000 car dealerships in North America, was hit by a cyber attack on June 19. This forced CDK to shut down most of its systems, causing significant disruption. 🔗 Broader Implications: The outage goes beyond dealerships and customers. The CDK incident could have a profound impact on the US economy. In May, car dealerships accounted for $122 billion in transactions, representing 17% of all retail sales. Even a 10% sales decline in dealerships due to the outage could lead to a dip of around $4 billion in auto retail sales for June. However, projections are suggesting potential losses as high as $16 billion. 📉 Economic Consequences: Russell Price, chief economist at Ameriprise Financial, warns that these disruptions could decrease retail sales by 2.3%. Given that retail sales represent a third of consumer spending and consumer spending accounts for over two-thirds of the US GDP, we could see a significant dent in the GDP growth rate for Q2. 📚 Key Takeaways: Retail sales are the backbone of the economy. Any disruption in this sector has ripple effects. A potential GDP decline has serious implications for the stock market and investor sentiments. 👉 Whether you are an Auto Dealership, Financial Institution, Medical Practice, Business Enterprise, or Executive Office working in any Industry, you can't wait to take action! 👉 Get ahead today by safeguarding your business from cyber threats. 👉 Contact ICU Computer Solutions for Cyber Attack prevention, Network Security, Managed IT Services, and HIPAA/FTC Safeguards Rule Compliance Assistance! 👉 Request your FREE Cybersecurity Scan: https://bit.ly/49hvaJP 👉 Stay vigilant, stay protected! #CyberSecurity #CDKGlobal #AutoIndustry #DataProtection #EconomicImpact #CyberAttack #ITSecurity #RetailSales #GDP #EconomicForecast #StockMarket #Investing #Dealerships #CyberThreats #BusinessContinuity #MarketAnalysis #FTCCompliance #TechNews #BusinessSafety #CyberResilience #FreeConsultation

This CNN analysis on CDK Global highlights the importance of cybersecurity. Stay ahead of threats with a robust cyber protection strategy from my friends at ICU Computer Solutions. ➡️ Follow this link to request your FREE Cybersecurity SCAN REPORT - https://bit.ly/4aGk0Q3 from ICU Computer Solutions! ➡️ Stay vigilant, stay protected! #CyberSecurity #CDKGlobal #AutoIndustry #DataProtection #EconomicImpact #CyberAttack #ITSecurity #RetailSales #GDP #EconomicForecast #StockMarket #Investing #Dealerships #CyberThreats #BusinessContinuity #MarketAnalysis #FTCCompliance #TechNews #BusinessSafety #CyberResilience

🔰 Do you think the CDK outage is just about cars and dealerships? Think again! 🔰 An insightful analysis by Elisabeth Buchwald from CNN has shed light on the massive impact a recent cyber attack on CDK Global has had on the automotive industry and beyond. Full Article - https://cnn.it/3L2mWvr Here are some key highlights: 🔍 What Happened? CDK Global, a software provider critical to the operations of nearly 15,000 car dealerships in North America, was hit by a cyber attack on June 19. This forced CDK to shut down most of its systems, causing significant disruption. 🔗 Broader Implications: The outage goes beyond dealerships and customers. The CDK incident could have a profound impact on the US economy. In May, car dealerships accounted for $122 billion in transactions, representing 17% of all retail sales. Even a 10% sales decline in dealerships due to the outage could lead to a dip of around $4 billion in auto retail sales for June. However, projections are suggesting potential losses as high as $16 billion. 📉 Economic Consequences: Russell Price, chief economist at Ameriprise Financial, warns that these disruptions could decrease retail sales by 2.3%. Given that retail sales represent a third of consumer spending and consumer spending accounts for over two-thirds of the US GDP, we could see a significant dent in the GDP growth rate for Q2. 📚 Key Takeaways: Retail sales are the backbone of the economy. Any disruption in this sector has ripple effects. A potential GDP decline has serious implications for the stock market and investor sentiments. 👉 Whether you are an Auto Dealership, Financial Institution, Medical Practice, Business Enterprise, or Executive Office working in any Industry, you can't wait to take action! 👉 Get ahead today by safeguarding your business from cyber threats. 👉 Contact ICU Computer Solutions for Cyber Attack prevention, Network Security, Managed IT Services, and HIPAA/FTC Safeguards Rule Compliance Assistance! 👉 Request your FREE Cybersecurity Scan: https://bit.ly/49hvaJP 👉 Stay vigilant, stay protected! #CyberSecurity #CDKGlobal #AutoIndustry #DataProtection #EconomicImpact #CyberAttack #ITSecurity #RetailSales #GDP #EconomicForecast #StockMarket #Investing #Dealerships #CyberThreats #BusinessContinuity #MarketAnalysis #FTCCompliance #TechNews #BusinessSafety #CyberResilience #FreeConsultation

🚨 Breaking News for Auto Dealerships: CDK Global Shutdown Across the US Due to Two Major Cyber Breaches! 🚨 As many of you are likely aware, a cyber attack on software provider CDK Global has disrupted operations at car dealerships across the U.S. CDK Global, which supports over 15,000 retail locations, shut down most of its systems "out of an abundance of caution" to protect its customers. While core document management and digital retailing solutions have been restored, extensive tests are ongoing for other applications. This incident follows a recent cyber attack on Findlay Automotive Group and highlights the increasing threat to car dealerships. According to a 2023 CDK report, 17% of surveyed dealers experienced a cyber attack last year, with nearly half facing negative financial or operational impacts. Dealerships are prime targets due to the vast amounts of sensitive customer data they hold and often lack basic cybersecurity protections. This alarming event highlights the critical importance of robust cybersecurity measures. 🛡️ Are your FTC Safeguards in place? The Federal Trade Commission (FTC) mandates strict security protocols to protect consumer data. Ensuring compliance is not just a legal obligation but a necessity in today's digital landscape. Download our comprehensive FTC Safeguards guide today to protect your business and customer data: https://lnkd.in/gEUBtYmi #cdk #auto #autodealer #autodealership #car #cdkglobal #cybersecurity

Cyberattack on CDK Global—A Wake-Up Call for the Automotive Industry The recent cyberattack on CDK, impacting nearly 10,000 dealerships, serves as a stark wake-up call for the entire automotive industry. This incident underscores the critical need for robust cybersecurity measures and comprehensive contingency plans. However, beyond cybersecurity, we must also focus on ensuring our ability to operate during disruptions, highlighting our dependence on technology and the necessity for effective offline solutions. In today's digital age, technology underpins every aspect of dealership operations, from sales and parts to payroll and service. Many employees, having grown up with technology, have never had to complete transactions manually. This heavy reliance on technology makes us vulnerable to cyber threats, emphasizing the urgent need for preparedness. • Recognize Technology Dependence—Dealers must acknowledge their dependence on technology and the potential risks this entails. Understanding this is the first step in developing effective contingency plans. • Implement Offline Capabilities—Developing and implementing workarounds that enable dealerships to function offline during cyber incidents or power outages is crucial. Training staff on manual processes ensures critical operations continue without interruption. • Collaborate with Vendors—Ancillary vendors must support dealerships by providing secure, resilient systems and clear action plans for potential disruptions. Vendors must take concerted efforts to protect the data and customer information originating from dealers and ensure their systems can support offline operations. • Stay Vigilant Against Cyber Threats—While enhancing cybersecurity is essential, we must also recognize that hackers will persistently try to penetrate our defenses. Continuous vigilance and regular updates to security protocols are necessary. • Ensure Business Continuity—Protecting sensitive data and ensuring compliance with regulatory requirements are non-negotiable. This builds customer trust and safeguards the business from legal consequences. Ensuring the ability to operate offline during disruptions is critical to maintaining business continuity in a safe, legal, and secure manner. While the industry has made significant strides in cybersecurity, the CDK hack demonstrates that preparedness involves more than just digital defenses. We must build resilient offline processes to ensure that our businesses can function even when technology fails. This dual approach—strengthening online defenses and developing offline capabilities—will fortify our industry against future disruptions. #auto #automobiledealers #CyberSecurity #autonews #AutomotiveIndustry #DealershipManagement #BusinessContinuity #TechResilience #OfflineOperations #CDK #CDKGlobal #Tekion #ReynoldsandReynolds #CyberAwareness #AutoIndustryPreparedness #DataProtection