3 Steps to Boost Accounting Security

Accounting systems have confidential information which should always be secured. None of us would want to deal with a possible data breach or unauthorised access to our data—this greatly impacts client’s trust and our performance, especially when the compromised data is sensitive.

The organisation’s credibility is measured upon its ability to store and protect their client’s data. More than reliability and accuracy in financial matters, being trustworthy plays a big factor in maintaining a positive company profile.

Here are the three big steps in boosting accounting security

1. Create external and cloud-based backups

Organisations can’t anticipate the event of total system failure that’s why having multiple back-up repositories, such as external and cloud-based backups, is necessary to ensure continuous operations despite the possible issues which may occur.
External and cloud-based backups prevent the possibility of data loss which may be caused by numerous factors such as computer crashes, hard drive failure, theft, or even computer damage. This is crucial to any industries, especially to accounting service providers who handle financial data.

2. Update security software

We’ve all heard of the saying, “Prevention is better than cure” and has associated it with our health practices, but we can also relate this to protecting our data. It is always much better to avoid issues than deal with them. An organisation can achieve this by regularly updating its existing security software.

When an organisation opts to outsource a function like bookkeeping and accounting, protection and security of data must be a top priority since they will entrust their financial data to a third-party company. To do this, the third-party company must adhere to legal compliance which would protect both parties. Security software ensures legal compliance, a particularly essential thing in accounting services providers.

3. Discuss data security to colleagues

Organisations must anticipate that anyone can be a target of system infiltration, even their employees. With a single click, anyone can be deceived. Malicious documents or programs can be posed as a genuine attachment, via email or a text message. This is crucial in accounting services since they deal with a great amount of information each day—they can be an easy-target to this strategy.

Communicate with your colleagues or employees. It’s important to engage them in the process of integrating these steps in maintaining data security. Organisations can start by educating everyone about the latest threats and conducting seminars on data security.

More than anything, consistency is key in financial data security. Our efforts in ensuring the safety of our client’s data can be measured with our consistent actions in maintaining and improving the security of financial data. When an organisation’s financial data is compromised, it can really make an irreversible effect on them—that’s why boosting security must be our top priority.