Since its initial release in 1983, QuickBooks has stormed the accounting world with its unique features and offerings. More than 2 million customers use QuickBooks globally for handling their accounting data.
But, today’s digital world has witnessed a significant increase in the number of cyberattacks recently. And as accounting firms have access to critical customer data that, if misused, can result in the loss of thousands of dollars. Thus, this calls for measures that help you keep your QuickBooks data safe and away from cybercriminals.
This is where hosting your QuickBooks on the cloud helps. It offers unique features such as remote access, high-performance computing, high data availability, along with enterprise-level data security features for the safety of your QuickBooks data.
Let’s have a look at some of the data security features offered by QuickBooks hosting in detail:
1. Protection from Malware
Not many people would have forgotten the Conficker attack of 2008. This attack affected almost 7 million computers, and $9.1 billion were lost as a result. The different types of malware attacks include ransomware that locks essential files and extorts money for the same, or viruses that hack bank accounts for fraudulent transactions.
And this is where QuickBooks cloud hosting comes to the aid. It offers a modern-day solution to these modern cyberattacks – the latest firewalls and antivirus. Most service providers also deploy AI tools that monitor your data for vulnerabilities, along with a team of IT experts that help you fight back if there is an attack.
2. End-to-End Data Encryption
Not many trust the Internet when it comes to transferring data online, as there is always a risk of criminals gaining unauthorized access to it. Cybercriminals can use this information for their own profits and cause a lot of damage to your business.
With QuickBooks on the cloud, this problem is solved with end-to-end solid data encryption. This is done using public and private keys where the person having the private key can only decrypt the data. So, even if a hacker gets access to your data, he/she will not be able to understand it without the private key.
3. Role-Based Access
Most cyberattacks are for personal benefit as most hackers tend to extort money or misuse information for financial services. It is seen that the majority of data leaks occur due to internal factors such as an employee responding to a fraudulent email. Thus, you can say that employees play an active role (mostly unintentionally) in data leaks, especially in accounting firms as they handle financial data.
Accounting firms should avoid data leaks due to internal factors as they would lose the trust of their clients and tarnish their image in the market. Hosted QuickBooks is their best friend to protect data leaks due to internal factors. As it gives you the power to restrict data access based on the employee role, you can limit its visibility. For instance, an employee handling payroll does not need to have access to sales data. This way, firms avoid the possibility of leaking sensitive information based on the role in the organization.
4. Hardware Independence
Accounting firms always need to be careful about their data – credit card details, SSNs, personal information, financial data, and the like. If you’re traveling for work and you realize that you lost your laptop at the airport, this could result in drastic consequences if your QuickBooks data is misused.
However, QuickBooks cloud hosting offers a hardware-independent way of accessing your data. So, even if someone else finds the laptop you lost, they won’t be able to access your QuickBooks data without valid credentials. On the other hand, you can still access your QuickBooks data from any device with an internet connection and your login credentials.
5. Data Recovery and Business Continuity
If you use QuickBooks on a traditional system, hard disk failure or any such incidence means permanent data loss. Such conditions are not favorable for accounting businesses as they would face many difficulties in keeping their operations up and running.
In the case of QuickBooks hosting, reputed service providers take regular backups of your data (mostly daily) on remote cloud servers. Thus, if any hardware failure is like a hard disk crash, you can easily retrieve your data from the cloud server. This ensures that your business operations and services do not get affected and are up and running.
QuickBooks data is one of the most critical assets for every accounting firm. A minor data breach can also result in the loss of a few thousand dollars. Thus, it becomes essential to protect it.
The benefits mentioned above of QuickBooks cloud hosting help firms keep their QuickBooks data away from cybercriminals.
Is QuickBooks Hosting Safe To Use?
Now even you have to go through situations where you completely lose access to your data or it is lost, QuickBooks hosting can be a safe haven to all your worries. Suppose your laptop is stolen or your system crashes. You don’t have to worry because your data is completely safe and secure in your hosting provider’s data centre. You can just log on to your account and Bingo! All your data is at your hand
There are certain considerations that people make before hosting their data on the cloud. Some of them are- inability to recover data while working in local environment. Other is inability to employ certified security experts to maintain the applications with best class software and hardware. So if you are facing the above problems and you really consider the risks of using your QuickBooks data in your local computer, hosting is the best option for you.
Cloud Backup and Security
It is always important for you to keep your business and financial data in a secure environment.If you have your data only in one location or in a local environment, there are high chances of the data being lost. In case of any unknown circumstances, like theft or fire your data may be lost forever. How do you avert the risk of your data being lost? Here the option of QuickBooks hosting comes into the scene, it can be a boon to your business. By hosting your data on the cloud, you can be worry and risk-free because your data in the cloud is safe forever. Most of the hosting service providers perform daily backup for your data. So there is not even a single chance of your data being lost.
You don’t even worry about the hackers sneaking into your data. And which is a huge risk in today’s scenario. Because the hosting service offers top notch security for your data. They use state of art encryption system which means only you can access your data and no one else. And the best part is you can access all these service by paying just a nominal fee to the hosting service providers which otherwise could cost you huge amount if you do it in-house.
How To Keep Your QuickBooks Data Safe When Hosting It In The Cloud
Intuit QuickBooks software is the most popular accounting software used by both businesses and individuals. It is very handy to use for payroll management, paying bills, managing expenses, and making business payments.
Traditionally, people installed the desktop version of QuickBooks on their computers and could only access their data on them. Now, the QuickBooks Desktop software can be hosted on an internet server so that the data is accessible from any remote location. This is perfect for people who are constantly on the go or would like to give multiple people in different locations access to the same data.
When choosing a hosting provider for your QuickBooks program, the security of your data should be a bigger factor in your decision than the cost. Since QuickBooks stores a lot of sensitive personal and financial information, you cannot run the risk of someone hacking and stealing this data. The consequences could include identity theft and possibly lawsuits if your customers’ data was stolen too.
There are so many hosting choices to choose from, such as shared hosting, cloud hosting, dedicated hosting, etc. Based on numerous studies and evidence, cloud hosting is the best choice for keeping QuickBooks data safe. Cloud hosting uses several virtual servers and hosting resources to store your data. There is no single server with one set of resources running everything. This makes it harder for hackers to steal information because it isn’t all stored in just one place.
However, that doesn’t mean it is impossible for a hacker to retrieve information from a cloud server. It just means that it is more difficult for them to do so.
Choosing a Cloud Hosting Provider
So which cloud hosting provider should you choose for your QuickBooks data? There are several different cloud hosting services available, and it can be hard to distinguish them apart. Basically, you need to choose a cloud hosting provider that offers premium quality security features and goes the extra mile to keep your data safe.
Let’s look at the ideal qualities of a cloud hosting provider for storing your QuickBooks data:
- Four-Tier Data Centers
Your cloud hosting provider must protect your hosted data with the best security possible. Four-tier data centers must be used to store data because they allow your data to be easily accessible and better protected. Some cloud hosting providers may use one-tier, two-tier, or three-tier data centers. They are not recommended for hosting QuickBooks data, though. You must go with four-tier or higher only.
- Hardware Protection
Your own personal hardware is practically irrelevant when running software off a cloud host. But it is important that the cloud hosting servers have adequate protection or else it’ll impact your data. For example, all data centers must have their own physical security features, such as locked entrances & rooms and CCTV cameras & video surveillance. There must also be 128-bit data encryption, anti-virus programs, firewalls, and devices which can identify intrusions to the systems as they’re occurring.
- Data Reliability
The uptime rate of cloud hosting must be at least 99.99%. Aside from a four-tier data center, your cloud server resources must be equipped with redundant technology. The purpose of redundant technology is to offer fault tolerance to the most important components of the data center, such as the power source, fire detection system, fire suppression system, air conditioning system, and security system.
- Data Backup
No matter where you store data, there is always the slight chance that it could be lost or deleted. If you were to lose your QuickBooks data from hardware failure or a virus, then this could cause you a lot of problems. For this reason, always choose a cloud hosting provider that backs up your data. The provider must have a team of backup specialists who are ready to assist their customers. Their backup protection should allow you to restore data from the past week.
To save you the trouble of screening dozens of different cloud hosting providers, you could simply follow Intuit’s recommendation instead.
In addition to Intuit declaring Right Networks to be their preferred vendor for QuickBooks, they are also the number one choice for hosting by independent accounting professionals and their clients as well. The platform can accommodate businesses of any size, whether small or mid-level, is completely scalable and integrates easily with most of the top 3rd party applications for QuickBooks. Because of their relationship and two way transparency with Intuit, they are experts at not only transferring accounting applications like QuickBooks into their servers, but migrating existing company files and keeping them updated and safe with 90 day rolling backups.
Right Networks can offer you the same four-tier data center storage that major multinational corporations and banks use and you will find that the uptime is very consistent. Even when software updates and security patches are applied to the servers, there is no downtime experienced whatsoever. As long as you have access to the internet and a computer, you can access your QuickBooks files from any location and share that information with peers and clients. Additionally, customer support is available 24/7 and there are no contracts to sign or long-term commitments which means you can sign up and quit anytime you want.
Although there are certain situations where we will recommend other hosting providers because of special integrations or needs, Right Networks is our “go to” solution for most of the QuickBooks applications that we deal with. Additionally, as an Elite Partner with Intuit, we can offer additional discounts on all levels of Right Networks hosting as well as bundled packages with QuickBooks Enterprise, Premier and Pro software. This gives you the ability to have lower pricing with one consolidated bill for everything vs. an “a la carte” structure that has multiple monthly and annual charges and an increased overall cost.
Over the last 6 years, cloud hosting has exploded because of the security, convenience and accessibility factor for businesses. If you are looking for a new solution for your QuickBooks data, give us a call at 866-949-7267 and we can discuss different options and see if moving to the cloud makes sense. In some cases, it may honestly be overkill for your current situation and there may be better options to consider. But, for the right scenario, it can be just what you need to take a huge step forward with your business!