Last updated on January 13th, 2023
Since its initial release in 1983, QuickBooks has stormed the accounting world with its unique features and offerings. More than 2 million customers use QuickBooks globally for handling their accounting data.
But, today’s digital world has witnessed a significant increase in the number of cyberattacks recently. And as accounting firms have access to critical customer data that, if misused, can result in the loss of thousands of dollars. Thus, this calls for measures that help you keep your QuickBooks data safe and away from cybercriminals.
This is where hosting your QuickBooks on the cloud helps. It offers unique features such as remote access, high-performance computing, high data availability, along with enterprise-level data security features for the safety of your QuickBooks data.
Let’s have a look at some of the data security features offered by QuickBooks hosting in detail:
1. Protection from Malware
Not many people would have forgotten the Conficker attack of 2008. This attack affected almost 7 million computers, and $9.1 billion were lost as a result. The different types of malware attacks include ransomware that locks essential files and extorts money for the same, or viruses that hack bank accounts for fraudulent transactions.
And this is where QuickBooks cloud hosting comes to the aid. It offers a modern-day solution to these modern cyberattacks – the latest firewalls and antivirus. Most service providers also deploy AI tools that monitor your data for vulnerabilities, along with a team of IT experts that help you fight back if there is an attack.
2. End-to-End Data Encryption
Not many trust the Internet when it comes to transferring data online, as there is always a risk of criminals gaining unauthorized access to it. Cybercriminals can use this information for their own profits and cause a lot of damage to your business.
With QuickBooks on the cloud, this problem is solved with end-to-end solid data encryption. This is done using public and private keys where the person having the private key can only decrypt the data. So, even if a hacker gets access to your data, he/she will not be able to understand it without the private key.
3. Role-Based Access
Most cyberattacks are for personal benefit as most hackers tend to extort money or misuse information for financial services. It is seen that the majority of data leaks occur due to internal factors such as an employee responding to a fraudulent email. Thus, you can say that employees play an active role (mostly unintentionally) in data leaks, especially in accounting firms as they handle financial data.
Accounting firms should avoid data leaks due to internal factors as they would lose the trust of their clients and tarnish their image in the market. Hosted QuickBooks is their best friend to protect data leaks due to internal factors. As it gives you the power to restrict data access based on the employee role, you can limit its visibility. For instance, an employee handling payroll does not need to have access to sales data. This way, firms avoid the possibility of leaking sensitive information based on the role in the organization.
4. Hardware Independence
Accounting firms always need to be careful about their data – credit card details, SSNs, personal information, financial data, and the like. If you’re traveling for work and you realize that you lost your laptop at the airport, this could result in drastic consequences if your QuickBooks data is misused.
However, QuickBooks cloud hosting offers a hardware-independent way of accessing your data. So, even if someone else finds the laptop you lost, they won’t be able to access your QuickBooks data without valid credentials. On the other hand, you can still access your QuickBooks data from any device with an internet connection and your login credentials.
5. Data Recovery and Business Continuity
If you use QuickBooks on a traditional system, hard disk failure or any such incidence means permanent data loss. Such conditions are not favorable for accounting businesses as they would face many difficulties in keeping their operations up and running.
In the case of QuickBooks hosting, reputed service providers take regular backups of your data (mostly daily) on remote cloud servers. Thus, if any hardware failure is like a hard disk crash, you can easily retrieve your data from the cloud server. This ensures that your business operations and services do not get affected and are up and running.
QuickBooks data is one of the most critical assets for every accounting firm. A minor data breach can also result in the loss of a few thousand dollars. Thus, it becomes essential to protect it.
The benefits mentioned above of QuickBooks cloud hosting help firms keep their QuickBooks data away from cybercriminals.
Wish to know how QuickBooks hosting can help you keep your data safe? Get in touch with our Solutions Consultant at 855-270-6252.
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