Why Cybersecurity and Accounting Are a Very Important Partnership

Consider the type of information accounting firms typically handle, and it’s no wonder that cybersecurity and accounting are an important combination in 2022.

The modern age of digital transformation has seen the evolution of accounting, bookkeeping, and financial processes. Never before have more people turned to the online realm for managing their money, making transactions, and communicating with their bank.

But these digital conveniences come with a cost, just like an account may come with certain fees. Only these costs are much more like risks – specifically, risks in terms of data loss and the liability that comes with it.

One false move and millions can be lost, along with an accounting firm’s reputation. Here’s why the accounting field is working hard to rise to the top cybersecurity challenges of today and tomorrow.

The Accounting Field Faces Constant Serious Security Risks

While it’s easy to see why the accounting firms of the world face serious cybersecurity risks, it’s not always easy to see them coming.

Thanks to the millions of valuable data points they house, accounting firms’ servers are constantly targeted by data thieves. These cyber criminals want the routing numbers, account numbers, passwords, credit scores, and personal identification numbers of customers.

But how does this data come into the possession of data thieves? There are a number of ways:

  • Device Breaches: Everything from a tablet to a printer can be an entry point for a data thief. In the age of connectivity, one unsecured endpoint can provide the proverbial open door that thieves need to breach a company’s private files.
  • Scam Communications: Many emails, texts, and calls come across these days as sounding completely professional – even though they’re carefully crafted by scammers. These phishing tricks cause people to turn over their personal details every year, including in the business world.
  • Human Error: Even if every worker in an accounting firm is trustworthy and working within a security-focused company culture, accidents happen. Sometimes the wrong keystroke or a tiny oversight can result in a major security situation.

While this diverse array of dangers is tough to think about, it’s possible to guard against. But in order to do so, companies must recognize that the nature of security threats is like the nature of security itself – it’s in an ongoing state of change.

It’s not just that the financial sector in and of itself is going through digital transformation. The same tools that are used by customers and companies to improve business are being used by data thieves to support their own efforts.

Cybersecurity Challenges Are Evolving at a Rapid Pace

When reading up about cybersecurity challenges and concerns, it seems there’s always a new story.

Even the most tech-focused minds can be caught off guard by the new strains of malware, ransomware, and other malicious software that is developed constantly.

Trying to confront each one as it emerges leaves a company lagging behind from the start. So what’s the secret to keeping a company and its data safe from threats that may be new and unique?

The answer is to switch from a reactive approach to a proactive approach. Doing so allows a company to be alerted at the first sign of danger. Any suspicious activity on their network or unauthorized use of their devices can be analyzed immediately.

Security patches can also be applied as soon as they’re developed, providing as much protection as possible for modern threats. In the event that certain data could be lost because a network is brought down, backups can be made so customers can access their information safely at any time.

Cybersecurity and Accounting Are Ongoing Responsibilities

If there’s one quality that both cybersecurity and accounting require, it’s diligence. A consistent and detailed approach to managing ledgers also lends itself well to protecting data.

Any organization that has thorough procedures for managing their clients’ accounts must also develop procedures for managing their data. Building a robust security setup requires time, but there are ways to get on the right track quickly.

Managed services are a sure way to improve any facility’s digital security. Specialists can help accounting firms design the ideal setup of both hardware and software to secure information in a way that supports business objectives.

Accounting firms are busy supporting their customers and clients – this is why they need a trusted technology provider that has their back.

At Perry proTECH, we offer a portfolio of technology services covering managed IT, cybersecurity, cloud computing, and more. No matter the size of your accounting firm, we’ll help you master the science of safeguarding your data so you can better serve those who rely on you. Contact us today.

2022-09-29T13:21:17-04:00October 17th, 2022|
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