The importance of cyber-security in accounting

Considering your cyber-security budget has become more critical than ever as many businesses make a transition into an online platform or even dedicate themselves to going fully remote. This will come with a whole host of novel trials that you should try to be ready for.

In order to get the ball rolling for you and your IT team, here at Accounting Tax Solutions we have compiled a short selection of some of the critical factors that you need to identify in your business to help you to understand what needs to happen regarding your cyber-security and how to establish your defenses correctly.

Our professionals can assist you with determining an accurate budget for your cyber-security needs. It is essential to account for it as you consider your budget goals and subsequent plans.

Step 1: Prioritise data encryption

Finding a VPN (a virtual private network) is your first step in ensuring security for your business and is a foundational step in any cyber-security strategy. A local VPN is best.

With one of these, any personal information such as credit card numbers, location and names of your customers and staff are kept safe from prying eyes.

Step 2: Identify potential threats to your business

Consider your business and what might be the most significant areas of concern regarding cybersecurity. If you store a lot of your customer’s personal information and sensitive data, such as if you’re working in the health or financial sectors, then establish a strong Wide Area Network (WAN).

WANs are public infrastructures, whilst LANs (local area networks) are restricted to one building. With remote working a reality, using a WAN will ensure that your staff can access the necessary information whilst others from outside cannot.

Step 3: Be proactive

Being proactive with your cyber-security strategy rather than reactive is the single most influential factor in the protection of information and operations of your business. Data breaches, unfortunately, occur when you least expect them, so it is not only more practical in terms of your reputation but also more cost-effective to handle security concerns before they arise.

Step 4: Keep checking in with your strategy

As cyber-attacks continually evolve, so should your cyber-security strategy. In this rapidly changing environment, it is essential to allocate a budget for consistent research to occur, ensuring you can stay ahead of this critical issue to save money and your reputation in the long run.