Securing Your Financial Operations in a Digital World
As organizations increasingly migrate their accounting and financial analysis systems to the cloud, they unlock powerful advantages, such as greater efficiency, real-time insights, and improved scalability.
But those benefits come with new risks. When critical financial data resides in the cloud, security is no longer a luxury; it’s a requirement.
Key risks and concerns
- High-value targets
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- contain sensitive data: payroll, tax filings, financial reports
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- systems can become entry points for data breaches, fraud, and operational disruption without proper safeguards
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- attractive to cybercriminals
- Access & authentication weaknesses
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- weak login protocols
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- over-permissive access rights
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- risk of unauthorized entry, data theft, or manipulation
- Compliance requirements
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- must comply with SOX, GDPR, etc.
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- non-compliance leads to penalties, reputational damage
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- third-party provider risk must be aligned with internal controls (business process outsourcing or BPO)
- Cloud-based data analytics platforms
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- increased attack surface
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- requires encrypted data transmission
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- stored data must be protected from unauthorized access
- Integration & internal risks
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- external tool integration introduces new vulnerabilities
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- accidental data exposure by employees
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- difficult to maintain visibility and control as systems multiply
If not properly secured, integration with external tools can introduce additional vulnerabilities. Internal misuse or accidental exposure by well-meaning employees is another layer of risk that can’t be ignored. Maintaining visibility and control becomes increasingly difficult as your data footprint grows across multiple systems.
Building a secure cloud framework
A proactive, multi-layered security strategy is key. Start with strong encryption both in transit and at rest to protect your data wherever it lives. Use role-based access controls to limit access to only those who need it. Conduct regular compliance audits to identify vulnerabilities and maintain alignment with evolving regulations.
Just as important, evaluate your cloud vendors carefully and continuously to ensure they meet your security expectations. And don’t overlook the human element; ongoing security awareness training helps your team recognize and avoid common threats in today’s cloud-driven environment.
Independent validation with a SOC report
A SOC report provides third-party assurance that your internal controls are working as intended, offering peace of mind to leadership, auditors, and partners. If you’re just beginning this journey, a SOC Readiness Assessment can help you get started. We’ll review your current controls, highlight areas for improvement, and guide you through each step of the process with clarity and confidence.
At Barnes Dennig, we understand that digital transformation must be backed by strong cybersecurity and regulatory alignment. Whether you’re implementing a new system or strengthening your existing environment, our team can help you build a secure foundation for long-term success. We bring deep experience in accounting, IT risk management, and compliance frameworks so you can protect what matters most while driving innovation.
Contact us today to learn how Barnes Dennig can help you reduce risk, meet compliance standards, and get the most from your cloud investments. As always, we’re here to help.
