It Is Far Safer Than Physical Storage
Data stored on any computer or USB drive is always going to be at risk when it comes to viruses and ransomware, as well as being physically damaged or erased. If you were to lose your laptop or leave it unlocked while you went to get your coffee, you are at risk of having the data stolen.
However, cloud-based accounting data not only requires a strong user generated password, and 2-factor authentication, but it is also encrypted, meaning even if it was ‘stolen’ in an attack, it would be unreadable and useless.
Cloud accounting benefits from a multitude of security features including having backups on backups. These backups are often stored on multiple servers at different locations, so that should anything ever happen to one location, you will still be able to access your data from another. Not only is there more than one backup, but your data is backed up in multiple locations. Alongside this, cloud-based accounting companies such as Xero or Quickbooks have state of the art protection for their servers as well as round the clock security and protocols in place to ensure your data is secure.
In the meantime, if you want to know more about the cloud based accounting services we offer, get in touch with us.