Why Cybersecurity Should Be a Top Priority for Accounting Firms

Whether you run a high-volume accounting firm with hundreds of clients or a new startup, having strict cybersecurity policies in place is a must to provide the best services to clients, protecting both their important data and yours.

That’s why the Quickbooks ProAdvsiors from Accountants 2.0 has collected some important information here about why cybersecurity is so important!

Preventing Financial Loss

 One of the foremost reasons to invest in cybersecurity solutions is to prevent costly financial losses due to cyberattacks, ransomware attacks, and data loss. Studies have shown that some companies are forced to pay up to $50,000 dollars to ransomware attackers. Additionally, if your data is compromised and customer information is leaked, you can face legal actions and in some cases, end up bankrupt.

Reducing the Threat of Legal Representation

 As mentioned above, cyberattacks and other issues can result in the threat of legal action, which can be detrimental to your company’s bottom line. Many customers will take legal action if any of their personal information is exposed, which can lead to lengthy lawsuits that cost thousands to hundreds of thousands of dollars.

Minimizing Loss of Consumer Trust

 If your company falls victim to ransomware or another type of cyberattack and such a scenario is made public it can cause untold damage to your enterprise’s reputation. Current clients can share negative reviews that explode on social media and stop potential clients from considering your accounting firm.

How Can You Secure Your Accounting Firm?

 Above are just a few of the negative aspects of suffering a cyberattack. However, there are some ways you can secure your accounting firm and safeguard your company and client data such as:

Using Cloud-Based Accounting Services:

By implementing cloud-based accounting services with stringent security measures, you can minimize the chance of data loss and cyberattacks. You can also retain previous versions of files to restore your system to a time before a data breach.

Backup All Your Business Data:

Regularly backing up all of your data is key to maintaining a strict cybersecurity policy. Keeping multiple copies both on backup devices and the cloud will ensure your enterprise is well-protected.

Strong Passwords & Deep MFA:

By implementing strong passwords and deep multi-factor authentication processes, you can make it much more difficult for cyber attackers to enter your network.

Maintain a Strict Internet & Wi-Fi Policy:

For those using your company network, implementing strict policies regarding internet and Wi-Fi usage is a must. Often, this will include using a VPN whenever employees are accessing your system to keep your connection private.

Contact our Quickbooks ProAdvisors today for Cloud-Based Accounting Services & more!

For more information about how we can help your accounting firm protect its most important data, contact us online today or call (888) 857-5750. We also specialize in accounting for startups, bookkeeping services, and much more so get in touch today!

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5 Advantages to Using Electronic Onboarding

The process of onboarding employees is often lengthy, but it’s important. New hires need to learn your company’s culture, policies, and procedures. You also need to get some critical information from them so that they can legally work for you.

The onboarding process is typically long and a little dry. It may include training, equipment distribution, benefits orientation, and security policies, just to name a few.

There are many benefits to switching this traditionally paper-heavy and arduous process online. Read on to learn 5 great reasons to make the switch.

1. Make a great first impression

Some surveys suggest that up to 50% of new hires leave their new role within a few months. Switching to an electronic onboarding system is one way to combat this statistic.

When you create your onboarding content, you have a chance to knock that first impression out of the park. You know it will be a consistently great first impression with every employee, too.

It’s a great opportunity to decide how you want to come across to your new hires. You can then finesse the content until you have it right. Imagine if you could make a perfect impression every time you spoke to someone for the first time. Electronic onboarding allows you to do just that.

2. Save time

We all know how much effort it takes to onboard new employees. Often, the first day on the job is spent almost entirely on paperwork. The content is dry and the day is boring. This isn’t the best introduction to your company culture.

By switching to electronic onboarding, your new employees can do that “pre-boarding” work before they arrive. They can use the device of their choice and remain in the comfort of their own home.

When they arrive at work, they can jump right in to spend time connecting with their new colleagues and learning the actual job.

It’s a huge time-saver for your HR department, too. Instead of pushing papers for the first few weeks, deploy the content with the push of a button. You’ll also receive an alert if something is incomplete.

The automation of electronic onboarding means that nothing will be overlooked. Instead of filling out forms, your HR employees can spend time getting to know your new hires.

3. Increase engagement and accountability

When your onboarding process is electronic, you can easily see if anything is incomplete. Knowing which modules aren’t done yet makes it easy to follow up with an employee.

It can also give you some valuable insight about which parts aren’t working so well. If a lot of people get stuck on the same module, it’s a good indicator that it might need some improvement.

Onboarding content can be quite dry, but it’s critical. It’s helpful to know who’s done what, and what content needs some more attention.

4. Custom content

There is a lot that goes into learning a new job, and not all employees will need the same things. With electronic onboarding, you can send the necessary paperwork to all employees. And then you can send role-specific modules to those who need it.

Tailoring everyone’s onboarding to their needs saves time, money, and paper. There’s no need for everyone to go over everything. Delivering just the necessities for each employee keeps interest and engagement high. It takes less time, too.

5. Protect data

Employee privacy is a top concern. With electronic onboarding, you eliminate the risk of losing any personal data. With so much paperwork to complete, it’s easier than you might think to lose track of a sheet every once in a while.

It also protects your company’s data. When an employee takes a paper packet away, there is always the risk that it could get lost. When everything is online, it stays secure. That protects everybody’s interests.

Final thoughts

There aren’t any real downsides to switching to an electronic onboarding process. If you’re interested in saving time, money, and energy, while also driving up employee engagement and retention, it’s a good idea to consider making the switch.