by Krystal Pertuit 

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When entrusting your data to a cloud service provider, it’s reasonable to be concerned about security. Data breaches are significant threats, and you want to be sure that your data is managed in a way that minimizes risks and downtime. Fortunately, hosting your data in the cloud can actually improve your data security.

Cloud-based applications can help to ensure data integrity and drive role-based security that is easy to understand and administer. Getting critical data off of users’ desktops, email attachments, or isolated shared network folders should be the top priority of any organization trying to ensure data security best practices. The cloud provides a centralized place for team members to store and access this information while also encouraging better collaboration within and across functional teams.

With cloud accounting software, a login and password is required to access data, along with optional separate verification of identity. If your laptop is stolen or your office technology is damaged by a flood or other disaster, your data remains safe online. All you need is your login information, a computer or mobile device, and an internet connection to find everything at your fingertips. Information can be accessed 24/7/365 and secure backups are made daily at multiple locations — so you are always in control of your data.

Sage Intacct, the leading cloud-based accounting software solution for companies of any size, has a robust security management program. Their business depends upon keeping client data secure and accessible. Does your accounting software have an emphasis on securing your sensitive data? Here are a few examples of what to look for:

• Optional 2-factor user verification every time a user signs in from an unrecognized device, enforced password changes and automatic session timeouts.
• System security features to prevent unauthorized programs, systems, and users from gaining access or control of system processes, resources, and data.
• Full daily backups, continuous transaction data backup, and an offsite disaster recovery center to protect data in the event of a major incident.
• Regular internal and external third-party risk assessments and penetration tests on data applications, systems, and infrastructure associated with accessing, processing, storage, communication and/or transmission of customer or sensitive data.
• An up-to-date security incident response plan, detailing procedures to be followed in the event of any unauthorized access to or use of the application or customer data.
• Compliance with any regulations that are applicable for your organization, such as PCI, HIPAA, and GDPR.

Moving from an on-premises accounting system to a SaaS cloud accounting platform can also help you cut IT costs by shifting responsibilities to the cloud ERP provider. Your IT department will be able to focus on other aspects of cybersecurity and technology for your business, while your cloud accounting provider takes the necessary steps to protect data in the cloud, automatically rolls out software updates on a regular basis, manages backups, and minimizes business process disruptions.

Do you have questions about how cloud accounting can streamline your processes while protecting your data? Contact us today to discuss your organization’s needs.