How do you improve data security in your company?

You improve data security in your company in three ways: you know what data you have and where it’s stored, you limit who has access to it, and you make sure you can recover it at any time. In practice, this means licensed, up-to-date software, two-step verification, encryption, tested backups and access only for those who need it.

Software and online applications are used today in every field of activity. They make it easier to stay in touch with clients and suppliers, give access to information and work tools, help keep work well organized and help store data.

Even so, data security is often threatened by factors that are predictable, but not always controllable.

The danger of data being lost or stolen is all the greater in fields such as finance and accounting, where the data is personal and, more often than not, confidential. Losing data in a field like this can have serious consequences that make it difficult for a business to keep operating.

Why is data security your company’s number one priority?

Online applications and platforms often help make work more efficient. Tasks get done much faster and with better results than with traditional software. But there’s one risk that can jeopardize the entire business: unsecured data.

In finance and accounting, and beyond, data loss, unauthorized use of data, and theft by hackers or even by employees are serious threats.

Data security is also a legal obligation. Since May 2018, GDPR has required every company that processes personal data (of clients or employees) to protect it through appropriate technical and organizational measures, and a breach of its security must be reported to ANSPDCP (the Romanian data protection authority) within 72 hours. Companies in the sectors covered by NIS2, transposed into Romanian law by GEO 155/2024, also have cybersecurity obligations and must report incidents to DNSC (the Romanian National Cyber Security Directorate).

The risk can be reduced considerably when you:

• avoid, or refuse outright, the use of unlicensed software;
• implement IT solutions for securing data;
• work with companies that specialize in data protection;
• make sure the applications and cloud providers you use meet recognized security standards, such as ISO/IEC 27001, as well as the GDPR requirements.

Whatever type of business you own, the best option is to outsource the activities that involve:

• making regular backups and testing restores;
• strengthening the IT infrastructure;
• disaster recovery plans;
• data recovery solutions;
• monitoring the platforms and applications in use, so they don’t go down;
• setting up private networks (VPN);
• protection against viruses and ransomware;
• data encryption.

Securing data must be a priority in any company, especially in finance and accounting, because it protects and strengthens the business itself. A business’s credibility depends on it too.

How do you avoid data loss?

Data security methods are much more advanced today than they were a few years ago. Although they’re available to anyone, companies that specialize in IT security have the knowledge and experience needed to implement them, which is why outsourcing these services is simpler, less expensive and more effective than doing it in-house.

The causes of data loss vary:

• unpredictable failure of platforms or software;
• being unable to recover data from a backup;
• using unlicensed software;
• cyberattacks, especially ransomware and phishing;
• server failures;
• accidental loss, including of laptops and phones;
• unauthorized copying;
• virus infections;
• using unlicensed antivirus software.

All of these can lead to the permanent loss of data and, as a result, to damaged client relationships, lower profits and even crisis situations.

The unpleasant situations caused by data loss can be avoided with the help of companies that specialize in data security, which have the equipment, software and other resources needed to keep data encrypted and protected.

What can you do to secure your company’s data?

If you want to do everything in your power to secure your company’s data, consider the following steps:

1. Identify sensitive information and its impact on your company’s business.
2. Keep it on as few devices or servers as possible and give access to it only to those who really need it.
3. Use encryption: on laptops (BitLocker on Windows, FileVault on Mac) and on phones, especially since most applications and platforms can also be accessed from mobile devices.
4. Make sure the websites and platforms you work on use HTTPS, meaning a TLS certificate (often still called an SSL certificate).
5. Turn on two-step verification on every website and platform that allows it, both for employees and for external users.
6. Avoid cloud packages meant for personal use. Choose business plans, with advanced security options, and add backup for your data in SaaS applications, because the cloud provider doesn’t guarantee that you can recover data deleted by mistake.
7. Require long, unique passwords for every account, kept in a password manager (see the basic rules for strong passwords). Current guidelines, such as NIST’s, no longer recommend changing passwords periodically, only when there are signs they’ve been compromised.
8. Manage employee access for as long as people work with you: rights only for what they need, reviewed regularly, and accounts closed as soon as someone leaves the company, especially if the work involves access to financial and accounting data.

Besides these steps, consider the IT security services of a company that specializes in IT infrastructure, cloud solutions, VPN and data encryption.

RezolvIT is certified to ISO/IEC 27001, the international standard for information security, and has been working with companies of all sizes since 2005. If you want to find out how well your data is protected, request a free IT audit: our team will be glad to help.