31st October, 2023
We can all agree that the accounting world is shifting beneath our feet.
It’s digital, fast, and complex.
Accountants now have a wealth of tools at their fingertips. You can leverage software to automatically file taxes or digitally store client details where it’s accessible quickly and easily.
But with this digital shift comes a crucial question: How do you keep your client’s data safe?
While you’re juggling apps, worrying about encryption, and trying to stay ahead of the curve, how do you make sure you’re not dropping the ball?
This article will guide you through how to keep your client’s data secure while maintaining their trust.
We live in a world where data is king — and we must treat it as such. The old ledger books? Not up to snuff. Spreadsheets? A step up, but still not there.
Today, you need a system that can handle massive data volumes and help you organise and analyse it effectively. But it’s not just about storage and analysis. Digital data management should also:
Today, there are various ways of storing client data. Deciding on the best option depends largely on your specific business and client needs.
Each approach has advantages and potential drawbacks. Let’s look at three common methods.
On-premise systems give you complete control over data security with tailored measures like firewalls and encryption.
However, they require substantial resources and expertise to maintain security and keep up with emerging threats.
So if you’re looking to grow your small business, this may hamper efforts to scale.
Cloud-based solutions are increasingly popular. These free you from the task of maintenance, as this responsibility falls on the service provider.
Plus, many reputable providers offer advanced security measures like encryption and regular backups.
When considering cloud migration from your legacy systems, you need to trust the provider’s security practices and ensure compliance with data privacy regulations.
As the name suggests, hybrid storage combines the features of on-premise and cloud systems.
Also, one significant benefit is that you can keep sensitive data on-site and leverage cloud storage for scalability and accessibility.
However, managing security across two systems can be complex and may introduce vulnerabilities if not properly integrated.
So, you’re ready to manage your data like a pro, and prioritise cyber awareness. But where do you start?
Here are a few best practices to keep in mind:
Remember, managing your data is an ongoing process, so ensure your policies take these best practices into account now and long into the future.
For additional online security tips for businesses, consult reputable cybersecurity resources and stay informed about the latest threats and best practices. Safeguarding your client data is paramount to maintaining a secure and trustworthy business environment.
Keeping your client’s data safe should be your top priority. With MYOBs full suite of solutions, you can help secure your client data like never before.