Payroll processing is a complex and potentially risky business operation. There is always a risk of identity theft, embezzlement of funds, or tampering with company files for personal gain. How safe and secure is payroll data on the company’s server or network? Do you have the time and energy to closely supervise your business’s payroll for time and rate abuses and other unethical activities?
There are many threats in the workplace environment where data can be hacked and be at threat of tantalizing. If you’ve ever spoken or thought of the words, “We’re too small to worry about a cyberattack,” you’d better think again. Over the past few months, data security has become a primary concern for companies and individuals alike – from the threats, a decade-old form of malicious software known as ransomware which has been making headlines after cybercriminals hijacked hundreds of thousands of computers worldwide. Ransomware attacks, where hackers lock computers, steal information and demand a ransom for its return, are predicted to increase. The price and value of information, no doubt is becoming painfully apparent. Truthfully, when it comes to IT systems and security, too many SMEs aren’t aware of their own detriment. Hence, they are always at a risk of having their data being compromised and landed in wrong hands. Why is that so?
- Backup and Disaster Recovery
With the ongoing changes in everything from the climate to the political landscape, having a backup and disaster recovery plan should be standard operating procedure for all companies of any size today. Manual backups can no longer be counted on to capture data in sufficient time to compensate for sudden widespread attack which grow increasingly common.
- Outdated Equipment
True fact, no one typically gets excited about updating network drives, servers, routers, switches or firewalls. However, lots of people will get excited pretty quickly if outdated hardware leads to data security breaches and file corruption.
- Security Protocol
Human element at work tend to make every aspect of doing business riskier. Companies are lack of the necessary cybersecurity expertise, under-resourced and often clueless about their readiness to handle attacks. At times when they are vulnerable, it is when they need stronger and more advanced threat protection.
- Unsecured Mobile Devices
To date, experts still consider BYOD (bring your own device) programs to be simultaneously one of the most innovative and one of the riskiest programs ever introduced into the workplace. There is simply no way to comprehensively monitor and control personal devices for security at a level that can be done with company-owned devices.
- Lack of IT Strategy
One of the biggest challenges and opportunities companies will ever face is the sheer number of hats they will have to wear all at one time. This can result in infrastructure functions such as IT being overlooked during strategy sessions.
While some companies opt to handle the payroll function internally—through manual bookkeeping or in-house bookkeeping —increasingly, SMEs owner recognize the value of expertise of payroll outsourcing providers. While having some cyber-security support and attention is better than having none, payroll outsourcing turns out as one of the very viable solution which enables companies to focus on other core business objectives while receiving 24x7x365 data protection. But how?
Payroll outsourcing providers offer reliable backup systems, multiple server locations, and the latest technology to protect client data. Besides, they have a responsive support team who are trained to detect and deflect phishing attempts and immediately respond to security breaches. To meet companies’ specific security needs, payroll outsourcing provider has the right people, software and security measures in place to guard against data loss and cyber-crime. No business is immune from suffering a cyber-attack. Factoring in the amount of attacks launched regularly, it’s not surprising that the demand for payroll outsourcing services is increasing.
Source:https://www.stasmayer.com/5-problems-small-business-it-systems-security/