Last Updated on Sep 28, 2021 by James W

These days, it’s extremely important to ensure that your financial data is protected. All around the world security breaches are becoming more and more common and taking place on huge scales. 

Hackers are becoming cleverer and more sophisticated, and as their skill set develops, so does the security of some of the world’s largest organisations, who are putting billions of dollars into ensuring their businesses, information and data (as well as that of their customers) is kept safe. 

In this article, we’ll go through some of the questions you need to be asking yourself in order to ensure your data is secure.

Have you secured all forms of data? 

The first thing that you should be doing when it comes to keeping your business safe and sound is to assess all the data that you have. From tax forms, expenses, profits, invoices, software and more, begin by listing all the places where your data resides, which will give you a good indication of where you may be vulnerable to data breaches and attacks. 

Having a list will ensure that you can keep an eye on the data as your company grows and security needs change over time. Every few months assess the situation. You may even want to hire someone external to make sure you’re ahead of the game when it comes to keeping your data safe.  

Have you thought about insurance? 

Insurance can be a real lifeline when things happen to go wrong. Most people insure their house, their car and their most precious belongings. Even their pets! So why not insure your data? 

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There are loads of different companies that provide insurance for businesses of all shapes and sizes. Do a bit of research and ask other businesspeople what they use when it comes to insurance – especially if they’re a company that also has a lot of data. And review your policies over time to make sure they’re up to date. 

Are all your employees clued up?

All your employees will have access to varying elements of the company’s data. That’s why it’s so important that they understand the importance of data security and are onboard with the plan you have when it comes to the safety of your data. 

It’s well worth investing in some training for employees when it comes to data protection. Even if they already have some knowledge, it may not apply fully to your business. It’s worth making it part of the onboarding of new employees so that they’re set up from day one when it comes to understanding how important data security and safety really is. 

Do you have a plan in action in case anything goes wrong? 

Beyond having insurance, it’s important to have a plan in action in case anything does happen to go wrong with your data. Having an emergency strategy in place is important for almost everything when it comes to business, so get a plan of action written down should the worst happen and you have a breach of data. 

Keep your passwords updated

It sounds so simple, but your passwords are truly the frontline when it comes to your data protection. Be password smart. Don’t make your password anything that can be easily guessed (when in doubt, use the smart passwords recommended by your software!). Regularly change them and never reuse them as that can be a quick way for everything to go wrong. 

And of course, be very careful who you share your passwords with as it can lead to trouble in the future if you’re not considered with the people who have full access. 

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