Financial security is a major concern for any business. Here's how to combine automation and risk prevention.
Accounting automation
Accounting automation and digital accounting are a major advance for business financial management. It saves time and operational efficiency on a daily basis.
However, the benefits of digitization should not make you forget the crucial importance of financial security.
Here's how to combine automation and risk prevention.
Financial Security, what are we talking about?
Financial security refers to the protection of a company's financial assets against risk, loss or fraud.
This includes things like fraud prevention, financial risk management, controlling access to sensitive financial information, complying with applicable regulations, and much more.
In short, financial security aims to ensure the stability and reliability of your company's financial resources .
Combining Automation and Financial Security
Accounting automation presents itself as a solid bulwark to minimize financial risks and guarantee sound management.
1. Access and Permission Control
You probably already use accounting software and applications allowing automated financial management, such as Pennylane , QuickBooks , Dext or Libeo .
These solutions also integrate access control functionalities.
This allows you to set clear permissions for each team member based on their responsibilities.
Thus, only authorized people will be able to access certain sensitive information.
2. Real-Time Activity Monitoring
Accounting software such as Pennylane , QuickBooks , or Odoo offer the ability to monitor your business activities in real time.
This allows you to identify unusual drops or increases in your performance indicators (turnover, invoices due, etc.).
This way, you can react quickly in the event of suspicious behavior or financial anomalies.
3. Fraud Management Solutions
For SaaS and e-commerce businesses in particular, detecting potentially fraudulent transactions is essential.
There are several specialized tools dedicated to detecting fraud, illegal purchases or access, advertising spam, robots, stolen cards, etc.
Solutions like Seon.io or Fraud.net for example use artificial intelligence to analyze transactions and identify suspicious behavior.
These systems enable early detection of financial anomalies.
4. Encryption and Data Security
Automation often involves the storage and transfer of sensitive data.
It is imperative to use accounting software that offers a high level of data encryption, guaranteeing its confidentiality and integrity.
Services like Pennylane, Quickbooks or FreshBooks incorporate advanced security protocols.
5. Automatic updates
Software providers frequently update their solutions to incorporate the latest security advancements.
It is essential to keep your accounting software up to date to benefit from security patches.
If you use a Cloud solution, it offers the advantage of automatically making all the necessary updates. So you won't have to worry about it.
6. Systematic backups
Automation relies on the availability of data. Perform regular backups to avoid any loss of information in the event of a technical problem or cyber attack.
Here too, accounting and financial solutions accessible in the Cloud generally include online backup options. So your data is automatically saved on the solution provider's servers. Obviously, you can also regularly extract your data to make additional external backups.
So, in the event of loss or technical problem, you will be able to find all of your data.
Tool Recommendations
As you will have understood, accounting automation is a powerful ally in guaranteeing the financial security of your company. By adopting the right tools and implementing best practices, you can minimize risks, protect your finances and ensure healthy and secure management of your activities.
By combining accounting automation and financial security measures, you gain the benefits of operational efficiency while maintaining the integrity of your financial data. This builds trust, both internally and with your business partners, and ensures the sustainability of your business.
Among the recommended tools to strengthen financial security through automation, as already mentioned, we recommend Pennylane, Odoo or even Netsuite . They offer advanced security features and are regularly updated to deal with new threats.
If your business is based outside France , you can also choose QuickBooks as your accounting software.
To find out about all the available solutions and find the one that best suits your specific needs, contact us !
Blendy, a pioneer accountant in digital accounting in France, supports you to help you automate your finance and accounting processes. And we also help you connect your business applications such as Shopify or Qonto to your accounting.
Contact us to explore the available solutions and choose the ones that best suit your specific needs.
With Blendy , French digital accountant take advantage of all the advantages of digital accounting to accelerate your finance process and develop your business.
Pennylane , Dext , QuickBooks and Stripe experts, we support digital and IT service companies, e-Commerce, SaaS, SMBs, in France and internationally .