Cloud accounting software has proven itself to have many business benefits, with efficiency, productivity and growth at the top of the list. However, it’s still a relatively new phenomenon, and naturally many have some security concerns.

Here, we address these worries and also explain the measures in place to minimise any associated risks.

Stolen data

Previously, someone would actually have to enter physical premises to steal information or a device. Now, anyone in the world can commit theft.  And it’s likely that it won’t just be your data you’re storing in the cloud – but also that of your customers.

Since the General Data Protection Regulations (GDPR) came into force in May 2018, protecting data is more important than ever. Data protection is easy with cloud accounting software. Data will be encrypted making it incredibly difficult for any cyberhackers to access your files.

Data loss

Stolen data could lead to data loss. This not only risks breaching GDPR and losing customer faith but will result in significant business downtime too. You’ll end up experiencing delays in what would have otherwise been a productive time.

Thankfully there is a solution to ensure business continuity: data back up. Cloud solutions will generally make sure that there are multiple copies of each document saved in multiple locations. It’s a more secure method than having data stored on a computer and transferring it via a USB stick.

Sharing

Many find cloud software beneficial because it allows for improved access and collaboration – however this could potentially result in people seeing data they shouldn’t. If the provider is hacked, then this spreads the vulnerability to its customers.

There can also be issues if employees are unaware how to appropriately share information. But great tools will combat this. There is specific software that allows you to only share a file with those who need it. As for vulnerability, you’ll need to guarantee that your software provider is taking effective preventative measures to keep your information secure. Doing your research and speaking to them about this is therefore essential.

You don’t need to look any further than Liquid Accounts. Your data protection is of utmost importance to us, so we’ve rolled out the most secure procedures to keep it entirely safe. Plus, we have a support team who can also help to address any concerns you may have. This way, you can enjoy the benefits of cloud accounting systems, such as integration, streamlined accounts, and time and money savings, without any worries whatsoever.

To find out more about how our enterprise accounting software will benefit your business, get in touch with our friendly team today.

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