You're considering cloud-based financial software. How do you navigate security concerns effectively?

For guidance on security concerns with cloud-based financial software: Compliance: Make sure the software complies with regulations such as GDPR or PCI-DSS. Provider Security: Check their encryption, firewall, and certifications. Encryption: Protect data in transit and at rest with encryption. Access controls: Use role-based and multifactor authentication. Backup and Recovery: Review backup and disaster recovery plans regularly. Monitoring: Perform security audits by accessing logs. Training: Educate your team on safety practices. Agreements: Review SLAs for clarity on responsibilities. Incident management: Have a plan to respond to security breaches

I would define the scope of what is moving to the cloud and what is on-prem. Then we would need a risk assessment to see what additional protection/mitigations are needed to secure this data on cloud vs what we have. Security concerns should be addressed first and not later prior to choosing any vendor so you have a security baseline product on what it should provide.

To navigate security concerns with cloud-based financial software, ensure the provider has strong encryption, compliance certifications, and robust access controls. Regularly review security policies, conduct audits, and maintain backups. Get relevant teams involved when planning and making decisions, especially the compliance team!.

Considering cloud-based financial software? Navigating security concerns requires a strategic approach. Begin by evaluating the provider’s security credentials—look for certifications like ISO 27001. Implement end-to-end encryption and strong access controls to protect sensitive data. Regularly review and update your security protocols, and stay compliant with financial regulations. Balancing innovation with security ensures peace of mind and long-term success.

Select vendor that applying security policies that 'almost equal' with our company security policies. Doing site visit whenever possible (though not all cloud provider permit this). They should have regular audit report internally or externally that we can observe, and any past incident that they can share.

Vendors in this space should have third parties verify their standard to create trust with their clients and ensure that security is at the highest standards. To fully vet a vendor it is best to emet the team to ask direct questions and to read carefully through any legal documents associated!

When considering data control in a cloud-based financial software, it’s important to recognize that while many software vendors may hold broad regulatory compliance certifications, such as GDPR or ISO/IEC 27001, these may not fully align with the specific needs of your sector. For example, a financial software might be GDPR compliant, ensuring that it meets European data protection standards, but this doesn’t necessarily mean it’s compliant with HIPAA, which is crucial for handling health-related information. To ensure your organization maintains full control over its data, it’s essential to perform a thorough compliance assessment.

Temos que ter duas camadas de backup - o backup recorrente de fácil recupera??o e HA, e temos que ter o backup mais “hard”, ou seja, aquele mais profundo e que traga a garantia de recupera??o histórica.

Safe Multi-cloud architecture and safe-on premise infrastructure management with MFA and secure personnel is the key for fail-safe and recovery backups

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