Sage Intacct is a cloud-based financial management and accounting software that plays a significant role in technology and cybersecurity for businesses and is the perfect accounting software for SaaS businesses. It is designed to help medium-sized businesses automate and streamline their financial processes, such as multi-entity consolidation, revenue recognition, inventory control, project accounting, and more.
In this article we are going to look at how Sage Intacct can help your business keep its data safe with Intacct’s high-grade security and robust systems. Plus, what fallback plans they have in place if the worst was to happen in the unlikely event their own systems did fail.
Itas Solutions has been a long-term multi-award-winning platinum Sage Partner in which Intacct is one of the products we specialise in helping businesses implement and support Intacct coupled with training and consultancy.
Cybersecurity and Compliance
Sage takes cybersecurity seriously by incorporating security into every phase of its development and operation. It helps ensure the accuracy of financial statements and protects businesses from fraud and cyberattacks. Intacct supports compliance with the Sarbanes-Oxley Act (SOX), which includes cybersecurity threats and requires companies to establish effective disclosure controls. It also offers secure login processes, including two-factor authentication, and restricts access to resources based on user roles and departments, which is crucial for maintaining internal controls and preventing unauthorised access.
Cloud Security
The cloud hosting facilities for Intacct are protected by physical security measures and the servers are isolated within the data centre to provide an additional layer of security. Sage Intacct guarantees a high uptime and has comprehensive disaster recovery plans in place. It also undergoes periodic third-party pen-testing to ensure the robustness of its cybersecurity measures.
Artificial Intelligence and Risk Mitigation
Sage Intacct integrates artificial intelligence (AI) to enhance its capabilities, including proactive risk identification and smart general ledger capabilities. AI-powered tools within Sage Intacct can track, manage, and analyse transactions in near real-time, significantly reducing the risk of human error and enhancing risk mitigation efforts.
Integration and API Security
Sage Intacct’s API allows for the creation, update, deletion, or processing of transactions within the system, which can save hours of manual updates.
Regulatory Compliance
Sage Intacct is designed to comply with current financial regulations and can integrate with CRM systems like Salesforce, which helps streamline contracts and ensures compliance with any regulatory requirements.
User Roles and Permissions
The software allows administrators to assign roles and permissions to users, ensuring that employees have access only to the resources they need to perform their roles. This feature supports the SOX requirement for the segregation of duties and helps prevent internal breaches.
How It All Combines Together
The intersection of financial management, technology, and cybersecurity is a critical area in today’s digital age. As businesses increasingly rely on technology for their operations, the need for robust cybersecurity measures to protect sensitive financial data becomes paramount.
Sage Intacct, a cloud-based financial management software, plays a significant role in this intersection of accounting software. It provides solutions that streamline financial management and ensure high data security standards. Sage Intacct has received SOC 2 Type II certification, which attests to its robust customer information security measures. This certification, issued by outside auditors, is a testament to Sage’s commitment to data security.
Sage’s security measures include commercial-grade antivirus software, system monitoring, rigorous employee training, and compliance with strict regulations. Its built-in policies allow only authorised individuals to access the right data, preventing unauthorised access.
Moreover, Sage Intacct integrates with a variety of industry-specific cloud apps, streamlining data exchange, eliminating data silos, and removing manual and duplicated tasks. This integration enhances operational efficiency and provides a holistic view of financials in real-time, which is crucial for informed decision-making.
In addition to its security measures, Sage also leverages artificial intelligence to enhance financial management. By harnessing the power of AI, businesses can streamline their financial processes, gain valuable insights, and make informed decisions that drive growth and profitability.
Intacct also offers a range of features that streamline business operations. These include customisable workflows, responsive UI and navigation, and the ability to build your own dashboards. The software also integrates with other systems, reducing the potential for human error and enhancing data integrity.
In terms of return on investment, Intacct customers reportedly receive a 250% return on average. This is due in part to the software’s ability to automate accounting processes, thereby reducing manual labour and increasing efficiency.
How Does Sage Intacct Ensure Data Security In Their Cloud-based Solution?
Sage Intacct ensures data security in its cloud-based solution through a combination of physical and digital security measures, robust user permissions, and compliance with strict security standards.
User permissions in Sage Intacct are designed to prevent unauthorised access to sensitive financial data. Administrators can assign user permissions within each Sage Intacct module and function, preventing employees from performing multiple steps in the workflow. This promotes segregation of duties by requiring users with higher-level permissions to approve certain actions. It also has login security measures in place, including IP address restrictions, session timeouts, minimum password length, password expirations, and single sign-on.
In addition, Intacct’s cloud hosting facilities are protected by commercial-grade antivirus software, system monitoring, and rigorous employee training. The software also integrates with a variety of industry-specific cloud apps, streamlining data exchange and eliminating data silos, which further enhances data security.
FAQS
- What measures does Sage Intacct take to ensure data security?
Sage Intacct employs various data security measures including encryption, secure data centres, and regular security audits to protect financial data. It also maintains commercial-grade antivirus software to protect from viruses, worms, and other malicious code.
- How does Sage Intacct ensure compliance with data security standards?
Sage Intacct has several certifications that attest to its compliance with data security standards. These include SSAE 18 (SOC 1 Type II), PCI-DSS, and Privacy Shield certifications. It also has a SOC 2 Type II certification, which is issued by outside auditors based on the systems and controls in place for security, availability, processing integrity, confidentiality, and privacy.
- How does Sage Intacct control access to sensitive data?
Sage Intacct has built-in policies that allow only authorised individuals to access sensitive data. It allows for the creation of user roles and permissions, ensuring that only authorised individuals can access sensitive financial data or perform critical operations. It also maintains detailed audit trails of all user activity, changes to data, and transactional activity, helping to identify any unauthorised or suspicious activity.
- How does Sage Intacct handle data backup and recovery?
Sage Intacct performs daily secure backups at multiple locations, ensuring data integrity and availability. It also has measures in place for data loss prevention and recovery.
- Can the cloud provider access my data?
Intacct has a physical and logical security setup that, unless you grant them access, prevents any of their employees from seeing your data. If Sage Intacct support needs to access your environment, you would need to grant them access.
- What encryption measures does Sage Intacct use for data security?
Sage uses 128-bit encryption for data transmission. This encryption, along with hardened networks and firewalls, adds an extra layer of protection to your data.
- What features does Intacct use to strengthen internal controls?
Intacct has several features to strengthen internal controls, including login security measures like IP address restrictions, session timeouts, minimum password length, password expirations, and single sign-on. It also allows for the creation of role-based and user-based permissions, segregating duties by requiring users with higher-level permissions to approve certain actions. Additionally, it maintains comprehensive audit trails to track user activity.
- How does Intacct handle data access via API?
Intacct API provides secure data access with granular control. It has a unique role for API data access named “Web Service User,” which only allows access to Intacct data via API when allotted to a user. This user will not be able to login to the Intacct UI and will only be able to read/write data via API.
Who We Are
As a UK-based financial transformation consultancy and Sage Intacct partner, Itas Solutions is well-versed in the benefits of Intacct as a financial management software accounting tool. Because of the range of reports that Intacct generates, its cloud-based accounting solution, its multi-user support, and its integration with other business systems, we are great fans of the software.
When we first started, we had only one client when it first opened in 1995; today, it serves more than 200 UK organisations.
Our clients have trusted Itas with their business for more than 20 years, and we have expanded as a result of their endorsements and the recognition of IT professionals for our specialised yet personalised support.
If you would like to discuss this further, please email us at marketing@itassolutions.co.uk or visit our website at https://itassolutions.co.uk
