Insights

Family Office Challenges: Inadequate Security, Privacy, and Disaster Recovery

The Challenge in QuickBooks

From a security standpoint, QuickBooks might be adding risk to your accounting process and lost time due to mitigation and workarounds by holding you back in following ways:

  1. User Permissions – In QuickBooks, permissions are activity-based and are “all or nothing.” Because you are not able to restrict certain tasks at the user level without giving up control, this makes delegating accounting work much more difficult than it should be.
  2. Infrastructure – Hardware failures and natural disasters can disrupt your business and affect the integrity of your data.

 

Sage Intacct’s Solution

With security features built into the Sage Intacct application, you can tailor permissions to ensure that the right people get the correct level of access. Sage Intacct has the ability to restrict a user’s permissions via granular, role-based security policies across all of their modules. They also allow you to restrict a user’s viewing/transacting ability to specific entities or departments, which permits you to protect confidential data from anyone who does not need this level of access. User password requirements can be made as strong as required and changes can be enforced at specified intervals. Additional security features include single sign-on, two-step verification, automatic session timeouts, and IP address filtering.

You may assume that on-premises systems offer greater privacy and security because the hardware is physically located at your business. However, by capitalizing on the combined investment of major cloud providers and data security expertise worldwide, you can benefit from higher levels of privacy and security than an on-premises solution. Cloud providers can scale for millions of users and create more secure environments by incorporating the latest standards and controls for physical access that individual family offices cannot match.

For example, Sage Intacct operates Fortune 100-class data centers that have a specific set of operational characteristics built into the system that ensures the highest levels of privacy and security. Data is encrypted when it leaves the cloud, and data centers are monitored 24/7/365 and provide full recovery within 24 hours in the event of a major disaster. Sage Intacct is built on the Oracle database infrastructure, helping to ensure that you can access your records at any time. They provide full daily backups to multiple locations, continuous backups of transaction data, and secure streaming of transaction data to a remote disaster recovery center.

 

For more about how Sage Intacct offers your family office the solutions you need, click the image below to download our guidebook Sage Intacct: Solving the Challenges Family Offices Face on QuickBooks

Sage Intacct Family Office

 

Family Office Challenges: Complex Inter-Entity Transactions and Multi-Currency Management
Family Office Challenges: A Patchwork of Unintegrated Systems
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