Is your accounting business leveraging technology to help mitigate risk factors associated with the industry? From government compliance to security, there are so many parts of accounting risk management that can be done more efficiently and effectively with a robust I.T. system.
In the accounting world, you spend your days analyzing confidential numbers and handling sensitive information. In essence, the job is as much about managing risk as it is about deftly handling numbers.
Since the invention of accounting software, it’s probably not a surprise that technology can make the manual parts of your job easier, but are you leveraging technology to help you and your team mitigate the risk factors associated with your job?
Great I.T. support for the accounting industry is almost invisible. It works overtime behind the scenes, so your business runs securely and seamlessly without you even thinking about it.
From government compliance to security, there are so many parts of risk management that can be done more efficiently and effectively with a robust I.T. system and a specialized team on standby. Here are some of them:
Data Encryption
No matter who your clients are, as an accountant, you’re tasked with handling and analyzing confidential figures. As cybersecurity breaches increase in number, scope, and sophistication, protecting your data becomes even more important.
Using data encryption to keep information safe is just one way that technology enables you and your team to mitigate risk, making your job easier and safer, while giving your clients peace of mind. A specialized I.T. company can help you incorporate data encryption into your filing systems, so you—and your clients—can benefit from top-of-the-line data security.Virus and Spam Protection
The time to be concerned about a virus is not while it’s happening; it’s well in advance. While you might think that small businesses or sole proprietors are at a lower risk for virus targeting, the truth is that companies of all sizes can be vulnerable to computer viruses, and the consequences can be disastrous.
Working with sensitive financial information means you need to have a contingency plan in place, both for virus protection and for business continuity or crisis management, should your company fall victim to spam or viruses.
A robust I.T. security system should have elements of virus protection in place, so you can work safely and thoroughly, knowing your systems are being closely monitored and protected.
2-Factor Authentication
It’s no longer enough to protect sensitive account information with a password. Cybercriminals have long figured out how to overcome this kind of barrier, making traditional passwords increasingly obsolete.
While a standardized method of login that does not require data transfer over the internet is in the works, there are several ways to ensure your passwords are protected, and one of those is 2-factor authentication, also known as 2FA.
This means that instead of just requiring a password to access an account or information (which can easily be hacked or duplicated), a secondary access point must be activated as well. Usually, this is in the form of a phone number or email. Another option is an authenticator app, which requires you to scan a QR code when setting up a new account. When you subsequently log in, the account will ask for a code, which you will receive through the app.There are myriad ways to leverage secondary authentication, and a savvy I.T. support team can discuss your options with you.
Policy Writing and ComplianceÂ
In addition to the day-to-day operations and technical requirements of accounting, you’re likely in a position where you need to comply with government or professional regulations designed to minimize risk to your client base.
With great power comes great responsibility, right? Providing proof of this compliance using comprehensive analysis is not negotiable when the auditors come knocking. Luckily a robust I.T. system can help make your company comply more efficiently and effectively while giving you the tools to show auditors unshakeable, in-depth reporting.
An I.T. company with teams that specialize in accounting can also help you make sense of technical and industry regulations, and compile policies and procedures that will help your team meet them consistently.
A team that specializes in technology for the accounting industry can take your business to the next level, working behind the scenes so you can focus on what’s important.Are you ready to discuss how we can help your accounting business mitigate risk with the right tools and technologies? Contact us now using the form on this page, at 844-44-JMARK or by email at [email protected]
