Cyber Security – is your business protected?

We live in a digital world with hackers and scammers doing their best to breach security and compromise data – and then ransom it back to you. In recent years there have been a number of data breaches, some significant, but it’s not just the data that gets comprised, but your customers and suppliers trust too. Even worse, depending on how serious the breach is, you can damage your company’s reputation and some consumer’s will choose to do business elsewhere.

What information is worth hacking?

You might think that you don’t have any information that’s worth hacking, BUT it’s the customer information in your CRM system, the supplier details in your invoicing system and the financial data in your accounting software. It’s your bank account details, your confidential client information and your company’s secret intellectual property or hard-won R&D findings. All of this is worth hacking and holding for ransom (or selling it to a competitor).

So it would make sense to take cyber security seriously – but most people don’t think about it beyond backing up their data. Here are some things to consider in your business, to improve your cybersecurity.

1. Make cyber security a company wide issue

Your cyber security is only as good as your weakest member of staff’s security knowledge, so make sure to have clear protocols and processes in place for storing company data. You’ll also need to train your staff on these protocols and processes, regularly as it’s human nature to become more lax over time. The better prepared your staff are, the less likely it is that you’ll have a security incident or accidental data breach.

2. Save important data securely

Where are your employees saving their files/data? Is this on a shared drive or is it saved on their laptop/computer hard drives? If it’s the latter, you’re only one hack away from a major security breach. If you haven’t already, set up clear guidelines on where files should be stored. Ideally, all confidential information should be stored on a shared drive that is backed up and requires authentication if you’re trying to access it remotely. You can also limit who has access to any confidential folders and content to further minimise the risk of it being exposed.

3. Use proper authentication and encryption

Set up two-factor authenicationor even multi-factor authentication for access to all your cloud and SaaS tools. Make sure to have proper data encryption of any confidential information that’s shared.

4. Keep all devices and hardware secure

If you have employees working remotely, then develop a policy that means their devices are password protected and that they don’t share the password with their spouse, partner, family, flatmates etc. They should always be using the latest versions of applications and make sure to automatically enable installation of updates. These devices should also NOT be left unattended anywhere – car, coffee shop or hot desks.

5. Use a secure network connection

You can further enhance your security by using a secure network connection. This means that when your staff are connecting to work applications, databases and shared folders, they always use the company network or an approved virtual private network (VPN). By using a secure network connection, you greatly reduce the chances of your data being intercepted and stolen, with VPNs allowing employees to log in securely when off-site or working at a client’s premises.

Speak to IT security experts and protect your data

Keeping your data safe and secure is now a foundational need for any business. If you want to reduce your security worries, it’s sensible to speak to a cyber security expert. They will be able to review your current systems, networks and security practices and advise you on the key actions that are needed to tighten up your security.

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Key Features to Consider in Payroll Software

24 Oct, 2024

Running payroll can be tedious and is often a thankless task. So if you’re not already using Payroll software, now might be the time to start! Payroll software simplifies payroll to just a few clicks which saves you time, admin and hassle by calculating gross wages, deductions and entitlements for you. Benefits of payroll software Some of the benefits of using payroll software include: 1. Time tracking To accurately calculate wages, employers must be able to record the working hours and any overtime. Payroll software that allows you (or your employees) to record their working hours and overtime means that wage calculations will be accurate. 2. Calculates employee deductions Employers must process payroll deductions, including: KiwiSaver PAYE student loan repayments insurance premiums mandatory deductions, like child support payments. Payroll software can manage all these deductions and calculate the employees’ correct net or “take home” pay. 3. Complies with payroll regulations The IRD requires employers to keep payroll records for every employee and contractor. As an employer, you need to keep comprehensive records of wages, time worked, leave and other details. Payroll software generates and stores these records for you. 4. Provides employees with pay slips and keeps employee data secure. With payroll software you can send your employees their payslips and then also send this information onto the IRD at the same time you run your payroll. The best payroll management systems use state-of-the-art security to protect sensitive employee data. They can run updates for you, automate your account security and remediation activities, and inform you immediately about any suspicious or fraudulent activity they detect. 5. Provides anywhere access The best online payroll management systems provide 24/7 access so that you can manage payroll queries on the go. If you’re not already using a payroll system, it can be a bit of a daunting task to know which payroll software to use and what to look for. When you’re comparing payroll software systems, here are some additional things to consider: 1. Enables employee self-service Some cloud-based payroll systems come with an extra benefit: employee self-service. For instance, employees can submit their bank, tax and KiwiSaver fund details through a secure self-service portal. Employee self-service takes a heap of work off your shoulders and empowers employees to manage their details. 2. Integrates with your existing accounting software Look for payroll management software that can integrate with your existing accounting software as well as any other software you use such as onboarding, rostering, leave requests and time tracking, so you can operate more efficiently, reduce repetitive data entry and prevent errors. 3. Provides analytics and reporting Payroll software drives better decision-making with comprehensive analytics and accurate reporting that you can control and customise. You can access key information online, including leave, personal info, payslips and timesheets, whenever and wherever you want. If you need help deciding on the right payroll software for you, get in touch, we’re happy to help you find one that works for you.

How tax deductible are gifts to clients?

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How automation can give you time back

13 Oct, 2024

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