Improve Data Privacy, Confidentiality and Integrity with Smart Technology Decisions
Increasing Security with Cloud Treasury Software
Working with spreadsheets and outdated technology opens the doors to hackers. Risks often arise if locally installed software is configured incorrectly or not updated regularly.
As the number of cyberattacks continues to increase, treasury and IT teams are working closely together to improve data security. Cloud treasury software improves security in many ways. That's why treasury teams are increasingly choosing Software-as-a-Service solutions, when arming up against cyberattacks.
Features to Improve Data Security
Configure user rights and roles, payment signatories, approval workflows and payment limits to prevent cybercrime and internal fraud.
Benefit from data encryption, two-factor-authentication, audit trails and password controls to increase data security. Use black lists and white lists to increase payment security.
Sophisticated tools monitor for data breaches in real time. Alerts inform about data manipulations or fraud attempts.
Reval has implemented a rigorous security program that's aligned with ISO 27000 and compliant with SSAE16 SOC1/SOC2.
Security Risk #1: Undetected Fraud
Working with spreadsheets, treasury and finance teams may not realize money is disappearing from their corporate accounts. They do not know how much cash they have as it takes them so long to collect all cash positions from their bank portals. Data is already outdated when they are done. A cloud treasury system automates bank connectivity and makes global cash flows visible in real time.
Security Risk #2: Open Doors for Hackers
Working with disparate systems, treasury and risk management teams often do not have the resources and budget to keep all their specialty tools and interfaces up-to-date. But outdated technology and interfaces leave companies vulnerable to hackers. Cloud-based treasury and risk management platforms update automatically at no additional cost, taking away this burden from the finance experts.
Trying to prevent cybercrime? 5 actions treasurers can take.
How Safe Is Your Financial Data?
As the number of cyberattacks is constantly increasing, data security is top of business leaders' minds. In this article, Treasury Today explores changing threats and what treasurers can do to help fend off cyber criminals. (April 2016)
At Reval, we take our role in your security seriously. We believe that security is not a one-time event but is ongoing and dynamic. Our proactive approach on behalf of the Reval Cloud Platform’s entire community of users is to ensure that we address all areas of cyber security risk.
Download our fact sheet for more information on Reval CyberGuard.