What would happen to your organization if it was the victim of a ransomware attack?
Could it survive the dire consequences of disrupted operations and damaged customer, partner, and vendor relationships?
Data security should be a top priority for every organization—including non-profits.
Non-profit organizations handle confidential, valuable data, including donor information and beneficiary records. They must protect that data to preserve integrity, maintain public and donor trust, and fulfill their missions.
Keep reading to learn why safeguarding your non-profit data begins with the right technology.
What Is Ransomware?
Ransomware is a form of malware designed to encrypt files on a device, rendering those files and the systems that rely on them unusable. Malicious actors then demand ransom in exchange for decryption.
Look Closely at Your Technology
Because financial management is often a core system of record for non-profits, ensuring financial information’s security is vital.
Non-profits need financial management software with advanced security measures, secure data storage and processing, and greater visibility and control over data access to protect their organizations and data from ransomware attacks and other cyber threats.
If your non-profit’s financial software doesn’t feature robust security measures, ransomware attackers could access sensitive data like donor bank account information and social security numbers.
Non-profits are moving to Sage Intacct, a cloud-native financial management solution, for its world-class security.
Here are five ways non-profit finance leaders can breathe easier, knowing their data is safe with Sage Intacct.
Login Security
In 2018, the U.S. Securities and Exchange Commission issued updated guidance requiring companies to “establish and maintain appropriate and effective disclosure controls and procedures that enable them to make accurate and timely disclosures of material events, including those related to cybersecurity.”
Login security is the first defense against unauthorized access to privileged information.
Sage Intacct’s secure login process includes:
- Minimum password length
- Periodic password expiration
- Session timeouts
- IP address restrictions by user entity
- Two-factor authentication or single sign-on
User Permissions
Login security is just the beginning.
User permissions reduce the likelihood of an internal breach by granting employees access to only the resources required to perform their jobs.
Integration Security
Organizations must also ensure no one has unauthorized access to applications that integrate with their financial management solution.
To simplify security for integrations, Sage Intacct users create a unique user ID for every third-party integration. Sage Intacct gives each third-party partner a “token” to enable specific audit tracking for all transactional activity.
Protected Cloud Security
Sage Intacct users’ data is protected in the cloud with physical and digital security. Cloud facilities have 24/7 human security guards, and the facilities undergo extensive third-party penetration testing with paid hackers who try to infiltrate the system.
Data centers that hold SOC 2, PCI, and HIPAA security certifications are considered top of the line—and Sage Intacct’s cloud-hosting facilities have all three.
Approvals
With Sage Intacct, non-profit finance teams have full visibility into every step of a transaction during the approval process.
Administrators establish thresholds for approvals based on factors like amount, frequency, and type, along with overrides by department.
Finance teams can create approval workflows for:
- Accounts payable bills and payments
- Purchasing
- Expense reports
- Journal entries
- Timesheets
Sage Intacct for Non-Profits
In addition to its rigorous security features, non-profits love Sage Intacct because it’s quick to implement, easy to use, and has a lower total cost of ownership than legacy on-premises accounting software.
Sage Intacct eliminates the complexity of grant, fund, and donor financials with powerful accounting, flexible budgeting and planning, robust reporting, and role-based dashboards. With Sage Intacct, non-profits banish spreadsheets, eliminate mistakes, and confidently demonstrate financial responsibility to their boards, communities, and volunteers.
Learn More
Download our free whitepaper, Security: Protecting Data Value, to:
- Get answers to questions about data security
- Learn the practices and policies necessary for strong security
- Understand how Sage Intacct protects financial and operational data
