CPA Firms Data Cloud Protection

How CPA Firms Benefit from Miami Data Protection

All CPA firms have sensitive data that should they fall into the hands of cyber attackers, would be a disaster for their business. It could be anything from important personal files and client data, to product information and financial transactions. For that reason, data protection should be a serious consideration for any company. Proper data protection with managed services should guard your firm’s data while making it available to employees who need it. Moreover, it should ensure the data remains confidential, especially due to the possible security threat of remote workers operating on non-compliant company devices.

Data is currently the lifeblood of a business. That is why Facebook and Google became the tech giants they are today. The amount of data they have over their users is so valuable, industries depended on them to drive business, develop relationships and predict behaviors.

Imagine if that data were stolen and used for nefarious purposes. Imagine if it were sold on the black market or bought by a third party. You don’t have to be Facebook or Google to appreciate the severity of a situation like this. If your industry fails to protect both client and employee data, this could destroy your business.

Customers have a minimum expectation that your firm or business will keep that data safe. Data governance builds trust and trust builds a business. There are practices that everyone needs to follow to protect important data from breach.

Now more than ever, you find data hacks and attackers everywhere online. 53 percent of companies experienced a cyber-attack in the last year. This was up from 38 percent the previous year. This is why finding the right services that offer data protection in Miami is a good idea. Ransomware and hackers in particular are hitting accounting, the financial services industry and even educational companies all over the world.

Data protection keeps hackers from taking advantage of human errors

Whether you like it or not, human errors can appear from time to time in just about any business. And yes, they can lead to lots of downtime. Hackers will wait for such an error to appear and they will immediately gain access to your business information. If you don’t store your information adequately, hackers will just attack your business, and that can lead to a huge set of problems in the long term.

Training

This is such a huge issue that government regulations are now in place that make data governance a requirement. An important component of safety measures is security awareness training. Employees need to understand the importance of data security and procedures.

Online Safety

Our online activities reveal aspects of our daily life. What we search, where we enter our names, home address, and phone numbers. Facts about our education, our shopping habits, all of these things are recorded on the internet.

The amount of information that can be found on the internet is staggering. People expose their private lives online on a regular basis and that means these details can be exploited to gain access to employee information at work.

Data protection keeps hackers from taking advantage of human errors.  There are three main human errors that cyber attackers leverage to gain sensitive data:

Error 1: Phishing

Phishing and pretexting account for 93 percent of social related breaches, and email attacks are the most common.
The biggest mistake companies make is to neglect cyber until an attack or breach occurs. What every financial organization, accounting firm, and any business with sensitive data needs to do is create a security focused culture. Taking the time to address important warnings and issues in brief meetings or short five minute videos can give your business a huge advantage over cyber criminals.

Error 2: Poor passwords

81 percent of company data breaches are due to weak passwords. That’s because people recycle the same passwords across their various online accounts. Not only do people use the same passwords, but they continue to use those passwords as long as possible until it they’re told to change it by an IT department or affected by a cyber-attack. Businesses need to take an active role in helping their staff develop password good password hygiene. The reason many people use reuse these passwords are fear of forgetting. In fact, it was the number one reason for reuse. 61 percent of users admitted this in a poll by Lastpass.

There are password manager software applications that collect data and store it in encrypted databases. Nerds Support uses password expiration tools that instructs users to change their password every 30 days.

Error 3: Unauthorized access to devices

Although  industries  have become more mobile through smartphone technology, tablets and laptops, companies still issue devices to their employees. Over half of working adults allow friends and family to access employer-issued devices at home. Furthermore, it’s possible for employees to download malware that could gain access to important data and applications.
Implementing security controls on devices like two factor authentication and password protection is necessary in this case to avoid these risks. Also, introducing a thorough and comprehensive information security plan that addresses such concerns will lead to a more cyber secure culture within the workplace.

This is especially important for accounting firms due to the sensitive nature of their data. Financial firms are also vulnerable to these types of human error and critically impact the business. Nerd Support’s cloud accounting technology mitigates these risks by implementing rigid compliance centered practices.

Data protection Safeguards Against Breaches

Daily data backups, storing your data in an undisclosed location and taking the security measures mentioned above can go a long way. Data protection needs to be a top priority for all industries, because not only will you lose data, you’ll lose trust and eventually clients.

 

CPA Firms Data Protection Statistics

 

Daily data backups, storing your data in an undisclosed location and taking the security measures mentioned above can go a long way. Data protection needs to be a top priority for all industries, because not only will you lose data, you’ll lose trust and eventually clients.

Data Protection saves you money

The average total cost of a data breach is 3.92 million US dollars, according to extensive study by the Ponemon Institute. The average size of that data breach is 25, 575 records. In other words, 25,575 records are stolen on average whenever there is a data breach. Having strong protections is not a luxury, it’s a necessary investment. Most companies don’t realize this until a breach has taken place. The true financial impact is immeasurable when you consider future losses due loss of trust, credibility as well as the fines and fees.

Data protection keeps your company in compliance with the law

All businesses must safeguard their data. In Florida it’s important to remain compliant with the Florida information protection act of 2014. It’s a lot easier to avoid any potential lawsuits this way too. And, the most important thing, this way you can create powerful business relationships with each client.

By following compliance standards many of the vulnerabilities associated with human error are eliminated entirely. So you need to find IT solutions that take compliance not only into consideration but make compliance the basis for those solutions.

For accounting, it’s GAAP compliance standards that should be met. In the case of financial services, using FINRA approved cloud storage services is key.

What Happens When Data Protection is Underestimated?

There were huge data breaches in government run facilities in the past year. Ecuador was victim to a data breach that compromised the information of up to 20 million people. This included adults and children, dead and alive. To give you a sense of scale, Ecuador has a population of 16 million people. These attacks are only getting worse as hackers expose long neglected security weaknesses.

If you want to make sure that your company data is safe, contact Nerds Support for more information. Our dedicated data protection services team can give you a free consultation to discuss your industry and compliance needs.

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A logistics team using technology to move their cargo

How Freight Forwarders can Succeed with the Cloud

The freight forwarding business has faced a lot of challenges, especially within the last year due to the demand of remote work. As technology changes it creates opportunities for advancement, however it’s understandable being reluctant to change. Freight Forwarders go by many names; clearing agent, customs broker, customs and forwarding agents but despite this difference, the experience and challenges are more than likely the same across the board. Cloud technology is fast becoming the solution to specific industry issues and, if you’re a freight forwarder, it could be yours as well.

What is the Cloud?

The cloud is a term referring to accessing computer, information technology (IT), and software applications through a network connection. It is done by accessing data centers using wide area networking (WAN) or Internet connectivity. Almost all IT resources can live in the cloud: A software program or application, a service, or an entire infrastructure. With the best IT Support Miami provider, cloud solutions can be one of the most cost effective ways to organize your business.

Cloud Solutions carries the power for your business to be available anywhere. With the cloud, your employees can access company files from anywhere in the world, at any time. Cloud solutions also allows your employees to view files from any device. This includes laptops, tablets and smartphones.

Cloud solutions also allows you to have control over the people that can see your files, meaning that your business can always stay secure. And with Nerds Support’s cloud IT support for logistics firms, we guarantee the elevation of your supply chain’s efficiency.

Nerds Support IT Services for logistics firms uses the cloud

How Does the Cloud Help Freight Forwarders in Miami?

Freight Forwarders are constantly dealing with information from other countries and employees that are on the go. Having Nerds Support take care of your company’s cloud solutions not only provide your company the security it needs to run efficiently, but also the flexibility that every business on the move needs.

Nerds Support’s IT Support Miami team provides Cloud services which can help secure a freight forwarding dealings, keep accurate records and also track shipments. Cloud computing has many advantages. It is convenient to use and in many cases you can gain access to it instantly. Remote users can also access cloud resources from wherever they have a connection. Therefore, there is no limit to the location.

With The Cloud, You Have Control

Cloud solutions also allows you to have control over the people that can see your files, meaning that your business can always stay secure. You can read more about Nerds Support’s cloud solutions right here.

Inventory is the most fundamental way of determining risks and streamlining costs. Inventory management through the cloud allows you to adapt to demand fluctuations while mitigating risks and emergencies. You’ll have real-time, adjustable control over your inventory.

Maximum Efficiency

Coordinating components from multiple suppliers in various locations can be daunting. Synchronizing the process is what matters most towards optimizing efficiency. Cloud based solutions allow for monitoring on both the micro and macro scale so you can make accurate models of merge in transition possible.

Cloud integration provides more data in real time and it makes it accessible to your team, regardless of time or location. The cloud can allow for sharing of files, data sets, and all pertinent information. Breaking it down in this way makes it easier to handle and again saves time and improves productivity.

You need to understand the pricing associated with the logistical elements of your specific supply chain. Accessing the cloud in real time and making the proper adjustments ultimately determines net profits, make or hurt margins.

Cloud Logistics Statistics

Cloud Security

When choosing a cloud provider, it’s best to consider either a private cloud provider or a hybrid. A private cloud provider hosts all applications and systems on privately owned servers located in highly advanced, secure data centers. A hybrid cloud has both elements of public and private. Although public clouds seem cheaper there are likelier chances of down-time and security issues because public clouds have more clients running off their services.

Most importantly, there’s the matter of security. The biggest concerns existing in the industry are in relation to cloud computing and the security of sensitive information. When choosing a cloud provider, it’s best to consider either a private cloud provider or a hybrid. A private cloud provider hosts all applications and systems on privately owned servers located in highly advanced, secure data centers. A hybrid cloud has both elements of public and private. Although public clouds seem cheaper there are likelier chances of down-time and security issues because public clouds have more clients running off their services.

Selecting the right cloud solutions for your business is essential if you want to ensure your organization is safe from data breaches, viruses and other threats. Our IT department can monitor applications in real time and deploy advanced analytics to predict incoming threats and downtime.

Cost Benefits

You need to understand the pricing associated with the logistical elements of your specific supply chain. Accessing the cloud in real time and making the proper adjustments ultimately determines net profits, make or hurt margins.

There will always be reluctance to adopt new technology, especially if it disrupts how an industry operates, but what if it gave you a competitive advantage? Many of the features within the cloud address issues in the logistics industry.

Reliability

Public clouds are also not available everywhere. There are parts of the world where the public cloud is not accessible. If your supply chain has different hubs and vendors in different parts of the world, compliance requirements might vary depending on location. A private or hybrid cloud, like Nerds Support is always deployed in accordance with international laws and regulations.

Compliance

Carriers face substantial compliance regulations by federal state and local authorities. There are environmental factors like emission standards and regulations brought about by governments that bring to question concerns over compliance costs hindering business.

These constant shifts create new challenges and problems for logistic management and therefore makes staying up to date with these changes just as important as everything else we’ve mentioned. A cloud provider like Nerds Support, ensures your firm meets compliance standards wherever you operate.

Conclusion

Cloud services in Miami are very important for a forward thinking freight forwarder. In 2018 it is very important to try and get ahead of the competition and ensure increased patronage and maximization of profit. Using cloud computing IT services from Nerds Support gives your company a way to improve your technology capability without sacrificing quality or making a large, upfront capital investment. Nerds Support offers the best in IT Support and Cloud Solutions for Freight Forwarders.

Your business can enjoy the newest technologies through our cloud services and cloud infrastructure design. You can upgrade and improve productivity without the lengthy delays usually involved with adopting new technology, in addition to doing away with an expensive equipment investment that would normally mean increased costs. Let our Miami Cloud Services team help you make the transition to the cloud. That way, you can start experiencing the benefits today!

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Financial cloud Industry Digitizing with the Cloud

Financial Cloud for the Financial Services Industry

Cloud for Financial Services Industry

Financial cloud services is an evermore popular topic these days, especially with the rising necessity of remote work options. Financial services organizations are moving to the cloud for a competitive advantage, advanced security and the potential for innovation. The global finance cloud market was valued at more than $15 billion in 2018 and is expected to reach about $55 billion by 2024, according to report by Mordor Intelligence.

One of the driving factors in cloud finance is operational efficiency. Moreover, by using the cloud, companies are able to offer end-to-end loan processing in record time, surpassing finance industry benchmarks.

Finance and asset management is undergoing a radical transformation. Four out of five organizations that participated in a Bizagi report say that providing a better customer experience that can respond to customer needs enables competitive advantage.

Digital Transformation

Companies continue to explore the cloud for financial services and its benefits. Additionally, cloud software provides companies the ability to focus on revenue and wealth management, while maintaining customer relations.

CSPs arose as a leaders in the digital transformation of various industries. These industries like retail and distribution represent sectors with medium to low regulatory oversight. This reduces some of the complexities associated with implementation.

However, adopting the cloud for highly regulated industries like banks, insurance and healthcare companies did not follow this trend. CSPs lacked the maturity to meet financial organizations’ regulatory and compliance requirements. But this has changed in recent years, with cloud adoption increasing within the industry according to a Gartner study.

Both the banking and insurance industries are adopting cloud services. The study also states that by 2020, 36 percent of institutions will use the cloud to support more than half of their transactional systems of record.

Regulations and Standards

The entry way to the cloud does have its challenges and it’s important to understand the full picture. Those who work in an industry as heavily regulated as that of financial services don’t need  reminders of their importance. There’s an expectation that Financial services organizations protect sensitive data and are subject to strict data security requirements. Data protection, business continuity, data privacy are considered when outsourcing their infrastructure over to a cloud service provider.

Financial services are among the most regulated industries with regards to data privacy and security. There’s a long list of regulations that include: PCI, DSS, GLBA, GDPR, Dodd-Frank, FFIEC, SOX and the USA Patriot Act.

Reluctance to Adopt the Cloud

With 71 percent of financial service businesses agreeing that digital transformation needs to happen fast in order to prevent commercial failure, what problems stop these companies from committing to the cloud?

In a survey released in March 2015, the majority of participants cited data security as their primary concern, with application development and testing being their primary desire of utilizing the cloud.Financial Industry Respondents Statistics on Digitizing with the Cloud

Reasons to Adopt the Financial Cloud

Despite those concerns, the reality is financial cloud security is actually an upgrade, and actually deter or remove any potential risks to data. A cloud provider uses top grade security features and a team of highly skilled systems engineers that monitor suspicious activity around-the-clock. Cloud service providers (CSP) , like our IT Support for Financial firms also implement automated backups every day to reduce risk of data loss in case of a breach. The cloud is better than traditional systems with security. Using pattern matching technology to recognize anomalies when they appear, cloud providers prevent risks rather than create it.

CSPs are extremely secure and have redundancies in place. Regardless, it’s up to each financial institution to understand what they are buying from a CSP, the type of risks associated with the service provided, and the regulatory requirements. For example, depending on the importance of a FI’s service and the sensitivity of their data, the FI can choose the level of encryption. Passwords and encryption keys can be managed in various ways; some CSPs, like Nerds Support, offer additional services like “security as a service.”

Some CSP’s, like Nerds Support, take the added step of achieving compliance with HIPAA and PCI DSS regulations. In doing so they show the capacity to meet stringent security requirements, enabling customers to leverage security capabilities to meet these compliance requirements.

A Customized Cloud

Financial institution need to assess all the risks involved in their processes. Some of those tasks cannot be outsourced. That’s why the financial organization goes through a strict evaluation and assessment of the provider to ensure the quality of service is guaranteed as promised when choosing a provider.

The greatest risk for any organization, however, is not being ready to implement a digital transformation. Larger organizations face internal resistance. There is a resistance to change that plagues both large and small companies.

As more and more companies adopt cloud solutions, however, those in the financial services industry are looking to implement the cloud themselves to keep up. The need to incorporate on demand, easy-to-use services to meet ever changing customer expectation.

The skepticism by financial institutions is understandable. However, they were using Amazon Web Services which is a public cloud provider. There are CSP’s that cater to mid-market businesses and offer personalized services to their partners in the financial services industry. These types of services are more characteristic of private or hybrid clouds.

For example, CSP systems engineers at Nerds Support take the time to evaluate their partners’ current IT infrastructure through an extensive consultation process, rather than pushing a one-size-fits-all cloud service.

Things to Consider

The point here is that CSP’s are not all the same. They vary in the services they provide and how the go about implementing the cloud itself.
When adopting a cloud strategy, financial services decision makers should watch out for:

• Cloud providers that are unwilling to use compliance and up-to-date security to improve and personalize their service.
• Cloud providers that lack the financial services expertise necessary to maintain compliance and regulation standards.
• Make sure that your cloud contract states you keep ownership over all your data.

Customer Support is Important

In the early years of cloud computing, customer support was a huge issue for users. Users plagued by poor response times, inexperienced technicians and overall poor customer experience. Since then, CSP’s have taken great strides in improving support. Cloud technology has been around long enough to better implement through industries that benefit.

If you need a rapid response to client issues, make sure that your cloud services provider has options available for technical support. These options should include phone consultations, email and user training.

The reason to emphasize this point is because a CSP partnership is one that works best when it’s long term. Choosing a cloud provider that dissatisfies means going through the grueling process of migrating from one account partner to another. The problem is, many of these applications don’t easily transfer to other systems.

What are you waiting for?

It’s time for the financial services industry to leverage financial cloud to improve productivity, security and service. The opportunities and capabilities are there. For more information on  financial cloud services, call us at (305) 551-2009 or contact us with the button below.

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Workplace remote work.

Workplace: What You Should Know

Software-as-a-service companies are more and more common these days. With many industries seeing the benefits of SaaS, there is growing interest in these types of services. However, finding the right service is the key. Of all hosted services, Workplace_ is among the best.

Workplace promotes remote team collaboration and improves employee productivity for your company. A cleaner, user-friendly interface allows you and your co-workers to find, access and share files, websites and apps easier than ever before.

What’s more, Workplace’s key upgrades assure its users better security and regulatory compliance, as well as make the platform a tool for remote workers and organizations who care about keeping their data safe.

So, what are the main changes that will transform your Workplace_? 

Makeover of the Workplace Web App in Windows and Mac

On Windows, you are able to resize the app as big as you wish, even entering full-screen mode in your computer. You could also minimize it as small as you want so it doesn’t take the entire screen if you’re working with multiple applications or browser windows.

On Mac, Workplace works perfectly with the OS version, Mojave. Upgrades were installed, fixing an issue that previously affected users: the inability to see some virtual graphics products. Developers working on improving this app went above and beyond not only fixing what users weren’t able to see or the app wasn’t able to display, but also enabling Workplace to function on multiple monitors.

Pin Any File or Folder to Your Launch Page

Workplace has a feature that allows users to “star” websites, applications, folders and files that you can open directly from the Launch page with just a simple click.

Workplace’s Feature: Websites

You are able to see all the websites you visit and work with on a daily basis in a section dedicated specially for that! You can “star” (or pin) a website to your Launch page and see the Websites section there, or you can visit the sidebar menu on the left to see all of your featured and frequently visited sites.

Also, you can save websites with or without including login credentials and set up your username and password without depending on a company manager to do so. And let’s not forget about the feature that allows you to share bookmarks and websites with your colleagues, increasing collaboration and team productivity levels.

Find All Your Hosted Apps in One Place

Talking about simplifying workflows and increasing productivity, Workplace gives Citrix (“hosted”) applications their very own section. Click on “Hosted Apps” on the app sidebar and you will find all your hosted applications, or “star” the apps you use the most appear in your Launch page for quick and easy access.

Streamline device management, business continuity, & consistency of your remote operations with our Workplace cloud solution.

See If You Have Compliance Issues

All apps in the Workplace desktop platform have a feature that perfectly aligns with the company’s mission of keeping our customers’ data safe and improving security compliance. “Compliance Status”, the latest feature on Workplace, is implemented on both Windows and Mac machines. It checks your devices to see how your compliance level compares to the industry’s best practices.

What’s more, if you have compliance issues, recommendations will be made to fix the problem and get you to 100% compliance.

Run your Firm from the Cloud

Workplace provides a comprehensive solution that combines cybersecurity and compliance needs. The all-in-one, cloud based platform delivers and intuitive experience that reduces risk of data leakage.

You can protect your firm’s most important data by ensuring that all applications run only from this unified cloud environment. There is also improved continuity and disaster recovery features so your operation stays fully functional through any event.

Multi-Factor Authentication Keeps Your Firm Secure

Workplace also reduces the risk associated with logins and passwords. Employees access customized applications with one-click access. It also comes with multi-factor authentication that conforms to NIST (National Institute of Standards and Technology) guidelines.

Furthermore,  Multi-Factor Authentication enforces authentication methods required by regulation.  These methods are supported by both iOS and Android as well so employees can use them, regardless of device.

 

For more information on the cloud, cybersecurity and more, visit our website.

 

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Cyber hacker picks a safe lock through a computer screen

How CPA’s Can Stay Safe During Tax Season

With Tax Season Comes Cyber Theft

Tax season can be a nerve-wracking, even confusing time as people rush to gather paperwork and file all their documents on time.

It’s a busy time for CPA’s as well. With constantly changing tax forms and regulations, they have to educate their clients on how to file correctly and efficiently.

With that said, it’s important for both tax payers and accountants to remain vigilant of tax-related cyber-attacks.

Prepare For Ransomware

The number of ransomware attacks have increased since the rising demand for remote work, and sensitive tax information has become more vulnerable to hackers. In many cases, cyber criminals freeze files and data until accounting firms pay a ransom.

However, just because the ransom is paid it doesn’t guarantee they won’t use the stolen data afterward. The most recent tactic employed by hackers is to extort a CPA by threatening to release the data online or sell it to interested parties.

This is done now because companies are backing up their data more frequently and can simply undo the freeze by recovering data from a point before it was infected with malware. In this case, the target can avoid the ransom payment altogether.

In response to properly secured data backed up on the cloud, cyber criminals are instead choosing to use the extracted data itself as leverage.

Some of you might be asking, “If hackers can extort my company by threatening to release client data instead of freezing it, what’s stopping them from doing it indefinitely?”

The answer is: there isn’t. In theory, once your data has been obtained the thieves can use it in any way they deem profitable. There are even instances hackers receiving the payment and continuing to use the data to file false returns.

Once they have the data, hackers rush to file taxes electronically before the victim can. If the victim is too late, when they attempt to file taxes, the IRS will reject their submission. This is because the IRS refuses tax returns when there are filings with duplicate Social Security numbers. Sometimes, scammers will pose as the IRS through phone calls and emails. Here are some facts to consider if you’re ever in this situation:

Tax Season IRS Phishing Hints Stats

Cyber Scams Come in Many Forms

A vast amount of phishing campaigns are conducted by hackers during tax season. Emails, phone calls, SMS and text messaging are all mediums hackers use to manipulate targets. Some quick tips to help avoid a cyber breach are as follows:

Ignore Robocalls and Unfamiliar emails.

Anyone claiming to be the IRS through a phone call is obviously a scammer. But, hackers are getting more sophisticated. Hyper targeted email content is the best way a hacker can manipulate their victim to open an infected attachment or link.

The rule of thumb for safe emailing is not to share information with unconfirmed or unknown email accounts.

Hackers will pose as the IRS emailing clients a “tax transcript” as a way to get them to up social security numbers, passwords, credentials etc. Frauds use this ploy constantly. Any email that requests you provide sensitive data, no matter how legitimate it appears should raise alarm.

Encrypt, store and track all data.

As previously mentioned, Cyber criminals are getting more creative. There have been instances of hackers changing the address of a business so that notifications get redirected to another location.

Luckily, software exists to better vet and evaluate business returns.

This example illustrates the point that a breach might not have immediate red flags. Therefore, keep all data secure and encrypted.

Always send or input data on secure websites when needed. If you have data stored in the cloud, check that the provider follows the appropriate compliance mandates for security. Also, verify that they have a security plan and tools in place to guarantee your data remains in your possession alone.

91 percent of all cyber attacks come in the form of phishing scams.

The reason for this is simple, people will always be any organizations greatest vulnerability.

Taking the steps required to recognize and prevent a phishing attack is the first second and third priority of firms, businesses, and clients alike. All of the security and high-grade protection in the world is useless in the face of a careless user. There is only so much cyber security can do.

In the same tax professionals adapt to changing tax codes and policies, they should adapt to the shifts and changes in cyber attacks.

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