3 ways you can improve the security of your financial data.

In today’s digital era, data security is a major concern. Whether it is cybercrime or malicious employees, companies must ensure the absolute safety of their clients and staff data at all costs. One of the biggest problems that accounting organizations face is that they tend to lack proper internal access control in combination with processes that aren’t rigorously enforced -- leaving sensitive information prone to compromise!

Cyber criminals can be incredibly slick, but a little preparation and advanced warning about the security measures that are often employed these days by law-abiding companies can go a long way toward preventing them from compromising you. To make sure your information stays safe in an ever-more treacherous environment, here are some things you can do today to improve your data security.

Security measures that we can take for prevention:

Relying solely on passwords

It's a common misconception that passwords are sufficient as a security measure for safeguarding data. However, in most cases they're only an additional barrier to entry that hackers can get past if they're determined enough. They'll usually just work around them using backdoors. ​The way you really keep important information secure is through encryption as encryption is the conversion of ordinary information into a form that can't be read without special software. 

Implementation of encryption

Digital technology has made the world of data exponentially bigger and in turn, significantly increased the amount of data analytics required to help with everything from protecting it to governing it. More than that, there is a growing demand for data sharing and collaboration across the wider business community too. 

As technology advances, more and more businesses need to store their data online. In a world where cyber security is a growing concern for companies, it is of utmost importance to protect your data from malicious attacks. The most common way to do this is through encryption. Encryption is the encoding of information into a form that can't be understood without being decoded. This way, if an attacker does access your data, they will only be able to see gibberish and not the information you've worked so hard to collect. There are two main ways to go about encrypting your data: hardware-based encryption or software-based encryption.

Move to cloud based platforms 

In order to compete in today’s ever-changing business landscape; businesses have been steadily shifting to cloud-based platforms. The number of companies jumping on board to cloud hosting continues to grow and this trend will only continue as more businesses discover the many benefits associated with it.

Today, cloud-based hosting is one of the most popular choices among companies that are looking to operate cost-effectively. As the number of businesses shifting over to this method of operating continues to increase, so does the need for a business that can provide its clients with reliable cloud-based services.

Before choosing a QuickBooks enterprise cloud hosting provider, you have to be aware of the fact that cheap cloud vendors initially attract customers through their low rates, but often these vendors don't have the best security protocols in place. The costs might not seem like much of an issue at first, but if your important data becomes compromised, you risk losing all the financial and customer data within.

Final Words

One cannot emphasis more on cyber security. Please be advised that if you do not take action that can prevent your company against cyber threats in time they might have a lasting impact. It is now a necessity for all modern day organizations to have a proper security protocols and plans in place to avoid any disaster; the above mentioned methods will not only help your organization data to be safe but will be crucial in the long run in the fight against cybercriminals.