Tally Automation

Why Should Accounting Software Security be the Number One Concern?

May 19, 2022

Online accounting software security is a rising issue.

Hackers are targeting mainly financial data of businesses and accounting professionals.

The result?

They can't have a sound sleep due to this and are continuously under theft nightmares.

Our concern is accountants should take care of and they have to safeguard their valuable data to prevent them from data theft efforts.

In this blog, we will see how accountants can build an accounting cybersecurity strategy to keep their financial data protected.

We will share insights to keep data secure and how to master accounting best practices with secure accounting software for your firm.

Also, we will narrate how cloud-based accounting automation software like Suvit helps preserve data safe and secure.

Choose the right accounting system to make the right choice!

Though cloud accounting has eased up the accessing and managing of accounts, surely it has increased the threats to prior traditional bookkeeping.

Still, one more thing is more depressing than that and it is internal accounting data threats!

We know how hard it is to choose the "Right Accounting Software"!

Because the finest plans and specified financial security conditions are useless if they are not carried out to the implementation or if you have no choice but to manually implement those safeguards.

Basic accounting security features such as usernames and passwords are no longer sufficient. The accounting data that can be stolen may consist:

  • Credit card numbers
  • Bank accounts
  • Account numbers
  • Transaction details
  • Personal and private information

You'll need a flexible system with strong encryption and automated internal security functions to protect your accounting system from current cyber hazards and ransomware raids.

Invest your time in researching and brainstorming with your team for the best protected and reliable accounting software - Suvit.

Take advice from accounting professionals like CA, and tax experts to ensure the guaranteed outcome you want for your firm's security. After concerns to conclusions, implement the perfect fit according to you.

Read further as we share some solutions for you to take into account. 

Using reliable and secure accounting software, you can keep your financial data safe

The wisest step you can take is operating your accounting with reliable accounting software that will assure the safety of your financial data.

One of the primary functions of accounting software security is to protect your financial data, in addition to assisting your accounting firm in managing and analysing finances more efficiently and effectively.

Remember this: you're not just shielding your company; you're also protecting your clients' identities and data.

Implanting a secure accounting platform is not only necessary but also a critical phase to ensure the long-term viability of your business and for the safety and well-being of your customers.

But what exactly qualifies an accounting system as secure?

Here are some core security standards to eye on

  • Hierarchy of User Roles: User hierarchy will allow you to give the choice of appointing specific user/users that can modify or see the particular sections of accounts like statements within the software. 
  • Workflow Regulations: Internal methods and steps of procedures in directing key accounting functions can be built and automated using workflow rules. The way data is logged, accessed, processed, and used by the user can be defined by this.
  • Permissions for Users: This feature will allow you to distinctly specify which duties users are allowed to execute, give approvals, and have access to.
  • Email/Message Security Features: Send sensitive messages and emails containing accounting data in an encrypted and secure manner. If you can use page layouts and other permissions to prevent users from viewing attachments, that's even better!
  • Two-step Verification: You can enable the second level of authentication for each login with two-factor verification. When a user is executing a specific function, such as reviewing billing statements or approving payments, you can set two-factor authentication.

Suvit can help you protect your accounting data!

Suvit, an accounting automation software has most of the elements that you require to secure the accounting information from any dangers of online accounting.

Its manual options for different features let you define tasks for users. 

Keeping data of accounts safe means your clients' data is secure as well.

We have tried our best to make you feel safe by implementing the best security in our secure accounting software for accountants and CAs.

Have a look at the security levels Suvit provides:

We understand you and your concerns about financial data and that's why we ensure secure data encryption when it comes to online automated accounting.

Suvit is reliable, secure, and protected, with a built-in safeguard against data loss or theft.

Suvit performs regular backups of your business data which is automatically restored in case of data theft, loss, or any other issues.

Your personal and financial data is securely stored on your Google Drive, One Drive, and Dropbox to ensure its safety. We also take regular backups of each instance to ensure that you have continuous access to your data in case the server is down.

Bonus reading! You might already know this, but you know security well when you know these tips!

It's a fact that we must all accept: there is no such thing as 100 percent security in this day and age.

Even with advancements in security technology, there is still the possibility that security will fail.

Nevertheless, in the online world, user neglectfulness and carelessness is the leading cause of security breaking. While this may appear harsh, it also implies that there are steps you can take to improve the security of your information.

These tips are perhaps basic, but they are worth a reminder because they are what you hear over and over again for a reason, and they work!

Creating strong passwords and changing them on a regular basis is one of them! If you care about them, then that's it!

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