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How online payroll software can help improve security

24th Mar 2023
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Startling figures reveal that in the UK, close to four out of every ten businesses suffered a cyber-attack or data breach in 2021. Research estimates that a data breach can cost a business an average of £8,460. That’s a lot of money!  

Payroll data-related breaches could be one of the most significant threats for businesses. The financial and sensitive personal information contained in payroll data, such as an employee's name, address, National Insurance (NI) number and IBAN, can be incredibly valuable to cybercriminals.  

Ways payroll software can be left open to data breaches 

Payroll data can be left vulnerable and unauthorised people can gain access to it in a variety of ways, such as: 

  • Unsecured systems for storing payroll data 
  • Human error, such as leaving a computer unlocked 
  • Weak passwords or lack of two-factor authentication 
  • Phishing attacks targeting employees 
  • Insider threats such as employees attempting to steal salary details for their own gain 

It is paramount that you secure your payroll data to prevent unapproved individuals from gaining access. 

Lost payroll data  

Making sure payroll data has been saved safely and securely should be prioritised over all else. The consequences of losing payroll data and not being able to get it back can have a devastating impact on all parties involved. Payroll processors and employees alike will be greatly inconvenienced as vital information related to the payroll will no longer be able to be accessed. If you haven't been backing up your payroll data, there may not be any way of undoing the loss. One thing for sure is that it pays (pun intended) to keep an online, encrypted, backup of payroll data - because you never know when you might need it.  

How utilising cloud payroll software can help protect your payroll data 

These days, cloud payroll software is becoming increasingly popular. Cloud-based systems provide businesses with the ability to store their sensitive data on secure servers in remote locations. This ensures that the data remains protected and accessible only to those with authorized access. 

Cloud payroll software has the edge over desktop-based payroll software due to its increased security, convenience, and flexibility. When using desktop-based software, the data can be more easily compromised as it is stored on a single computer that is housed in one physical location. This makes it much easier for hackers or malicious actors to gain access.

Ways that cloud-based payroll software can help protect data 

  • Backing up data securely and automatically to remote servers 
  • Internal encryption for secure storage of confidential information 
  • Use of two-factor authentication for enhanced security 
  • Setting up access controls for different user roles in the system  
  • Secure sharing of documents with authorized recipients only 
  • Secure communication between employees and payroll processors  

Bright have launched a cloud version of payroll software BrightPay 

Bright's cloud payroll software, BrightPay, is set to revolutionise the way payroll processors can securely manage their payroll data. New for the 2023/24 tax year, BrightPay connects you remotely with your colleagues, while providing cloud-based storage for all your payroll data. 

Cloud payroll software offers businesses the freedom and flexibility to access their payroll information from anywhere, at any time. As cloud-based solutions are hosted online, it can be accessed on any device with an internet connection. 

By making our software cloud-based, we were able to offer features that simply weren't possible in the desktop solution. These include simultaneous payroll processing for multiple users, real-time changes and the automatic backup of payroll data. 

Limitations upon initial release 

It is important to note that not all the features of BrightPay for Windows or Mac are available on BrightPay’s cloud solution upon its initial release. Development teams at Bright are working incredibly hard behind the scenes to add all the time-saving features to their cloud payroll solution as quickly as possible. It is also important to note that with BrightPay’s cloud payroll solution, there is currently a limit of 100 employees per organisation. This is only temporary, and the employee number will increase. Check out this free guide to learn all about features of the cloud payroll software. While we are doing our best to align BrightPay's cloud solution with its desktop counterpart quickly and efficiently, there is no definitive timeline for when these features will become accessible at this juncture. 

Are you curious to see the cloud version of BrightPay in action? If so, book your free online demo today. 

 

Image of author, Elaine Carroll

 

Written by Elaine Carroll | Bright

BrightPay by Bright

 

 

 

 

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