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!