Tag: Strengthening Security

Cloud Computing: Improving Financial Reporting and Strengthening Security

As we’ve looked at solutions for increasing effectiveness in financial reporting over the past couple weeks, one solution we’ve explored is Cloud computing. We learned that it is an effective way to have financial reports be accessible anywhere at any time and is a trend that is set to become even more widely used in 2015. But, you may be left wondering if the Cloud truly is a solution that can help in strengthening security instead of compromising it. Financial records are so important that your data security should not be taken lightly. Beck and Company Certified Public Accountants and Business Advisors know that there is too much at stake to not be putting your organization’s safety as the number one priority. Without safeguarded data and accurate records, you could be in serious trouble. If your data is stored in the Cloud, will it truly be safe? Let’s take a closer look.

What are Cloud backup services?

These are becoming more and more popular throughout the world because they are both cost effective and flexible. Storing your information and data in the Cloud not only protects it from disasters of all kinds, but it also does not require additional resources such as hardware or software. Because content is transferred automatically, it ensures data is protected from threats that are either physical, digital, or environmental. Recovery time, in case of an emergency, will be reduced substantially because of this. This gives all constituents the peace of mind they need to know that information is safe and recovery will be quick and easy if something happens.

This backup protection is even more important because so much of the data you have is financial information. Your financial reporting and accounting records, when used through the Cloud, are protected as well. This information is just too precious to risk losing, but the Cloud allows for this protection.

For the sake of clarification, there are other backup services available besides on the Cloud, but they are not as comprehensive. Local backups are one example. This means storing data on a hard drive, CD, or flash drive. Unfortunately, lost or broken data storage tools present a problem, and the backup needs to be done at least weekly and done manually to be sure nothing is lost. Offsite data storage is another example. They may offer more protection from physical dangers (natural disasters, theft, etc.), but they require more planning and resources. They require numerous and portable media, a secure location offsite to store the media, and a plan to be sure data is being regularly backed up and transported to the location.

Beck and Company CPAs offer technology consulting services and would be happy to help you understand the Cloud more. We can help you with your technology needs so you can ensure you have easy access to all of the financial reporting capabilities your business needs while strengthening security of the information instead of compromising it. Find out more about our technology consulting services here.

Is the Cloud Safe?

While the first impression of the Cloud may be a good one, businesses still question whether the Cloud really is a safe solution in which to store their business-critical data and accounting information. Like many new technologies, the Cloud has come under serious scrutiny. How, then, can a data backup solution that is maintained online be safe?

First of all, the Cloud has strong data encryption to prevent hackers (and even your backup service provider) from unlocking your data and violating your client confidentiality. The encryption technology is so advanced, in fact, that it offers complete confidentiality of all of your data stored in the Cloud. Make sure that your data is encrypted prior to (and during) transmission and that it remains encrypted while it is stored in the Cloud for safekeeping.

Your online data archive will also be fully protected with a digital encryption key. In order to keep your data locked up tight, make sure your provider allows you (or a designated person in your office) to be the only one with access to the encryption key.

Contact us here at Beck and Company CPAs to find out more about the best ways you can accurately record financial information whether through a Cloud computing solution or by partnering with one of our accountants to help you get your business finances in order.

Methods of Strengthening Safety and Security in your Business

Your business’ safety and security can take on a variety of forms and range everywhere from physical security on the premises of your office to the more subtle need for online safety of important business information. Strengthening security of important documents is essential both in a physical sense with management of paper documents (locked filing cabinets, shredding information when no longer needed, etc.) and data stored electronically and/or in the Cloud. For more information on data security, visit here.

Finding methods of strengthening security for business is not always as easy or obvious as it may sound. Beck and Company’s Certified Public Accountants and Business Advisors know the importance of maintaining and strengthening safety in your company. We offer consulting services to help clients improve processes and get access to critical business information in a secure way including proper documentation processes and selecting systems that will set you up for success. We also offer technology services that can streamline data to make it easier to manage and secure. Learn more about our technology and consulting services here.  In addition to the specialized services we offer, here are some general guidelines for strengthening security within your business.

1.       Start with a Risk Assessment

The safety process starts with identifying where you are most vulnerable. Perhaps you are already aware of where your business has been the victim of crime before, but that might not tell the whole story. Carry out a thorough assessment of the premises for more general safety concerns and an electronic assessment of how data may be vulnerable. This assessment will give you a starting point for what needs to be addressed. Involve a team in this process to be sure nothing is left unnoticed and all avenues of potential risk have been explored.

2.       Educate your Staff

Train your staff to recognize suspicious behavior or activity. This means both in a physical sense (are files readily accessible to all who enter or secured and out of reach?) and electronic sense (are employees being asked for information that should not be shared or noticing people have access to what they should not?). Not only should employees know what to look for, but they should also know how to properly and efficiently report possible threats to information or resources.

 3.       Secure your Equipment

Carry out regular property and equipment audits and allocate responsibility for particular items to individual employees. Tag computers and record details of serial numbers. Consider securing expensive equipment to floors or walls. Secure electronic devices by encrypting them to prevent data access without a password. Inform all employees about expectations for properly locking up equipment and not leaving it out unattended.

 4.       Work to Prevent Electronic and Online Information Theft

This takes on a variety of forms including establishing strong passwords, having strong firewall protection and antivirus software, and performing regular system backups. Be sure employees know the risks of links and attachments so they are only clicking on items related to the job at hand and not getting viruses that compromise computers and information on them. Use access controls on computers to restrict entry, and regularly review who has access privileges.

 5.       Be Vigilant in Monitoring Security Over Time

While an initial assessment and response to areas of risk is so valuable, strengthening security is an ongoing process that will require regular reviews. As technology changes and advances, the criminals are keeping up with it as well. It is your duty to do the same to protect against information crime.

Beck and Company CPAs are here to help you with business practices and technology solutions to strengthen safety and security at your company. Please contact us for assistance.