Understanding the Security Features of Eleven

Data security is the most important factor in today's digital globe. This is critical for accounting companies that deal with their customers' financial data. Cyber threats have increased, and each company requires a secure accounting platform they can trust. 

At Eleven, we understand that the owner of every accounting company asks himself the question - how to keep data safe and secure? For this reason, the protection of data is an utmost priority for Eleven. Through a multi-layered approach, Eleven ensures that your data remains protected from unauthorized access, cyber threats, and data loss. The article will explain the security features of Eleven accounting software and how this can help protect your company's sensitive information.

01 | What is Data Security?

Data security deals with the protection of digital data from unauthorized access, use, disclosure, disruption, modification, or destruction. It is a set of policies, procedures, and technologies put in place to protect sensitive data throughout its life cycle, from creation to destruction. Data security ensures that an organization's data maintains confidentiality, integrity, and availability, securing it from breaches, cyberattacks, and insider threats.

02 | Why is Data Security Important for Sensitive Data in Accounting and CPA Firms?

Accounting and CPA firms handle client`s sensitive information, such as financial statements, tax records, and payroll information. Data security is important in order to preserve client trust. Otherwise, this would result in a big dent in their reputation and result in client loss.

Data security in the accounting industry means compliance with strict regulatory standards such as GDPR and SOC 2, which have stringent demands on data protection. Compliance failure risks costly fines and legal consequences, with potential reputational damage.

In addition, good data security saves companies from financial consequences resulting from data breaches. The recovery after cyberattacks tend to be very costly regarding legal fees, compensation, and restoration of systems. To that effect, investment in accounting software with high security reduces those risks and maintains financial stability for accounting firms.

03 | Data Security Practices in Eleven’s Accounting Software

Data security at Eleven is paramount. Our accounting platform is designed with a complete suite of security practices that guard sensitive client information against unauthorized access and cyber threats. From using top-tier data centers down to multi-layered authentications and encryption, Eleven's approach ensures data is secure in storage and transit. Every security practice has been painstakingly developed to ensure all the security measures so necessary for the stable and reliable operation of every accounting company.

Here is a rundown of how Eleven secures your data.

Сertified Data Centers with Amazon Web Services (AWS)

Eleven secures client data using only certified AWS data centers. AWS is a leader in the industry with competitive security and rigid controls to facilitate storage of data in a very secure environment. AWS data centers possess a high level of physical and digital security management. They are highly restricted, allowing only authorized personnel access.

Knowing this, it can be said that with AWS data centers, one has complete assurance that all sensitive information is under tight security among the best in the industry. Eleven chose AWS for its security commitment so firms can take confidence that their data are stored in a reliable and safe environment.

Advanced Firewall Protection

Firewalls are the first line of defense against cyber threats, and Eleven incorporates advanced firewalling into its security framework. Firewalls prevent unauthorized access to a network by maintaining the observation of network traffic that comes in and goes out and then blocking any suspicious activity.

The Eleven firewall system protects Eleven`s cloud solutions from every potential threat. Firewalls actively monitor and add an extra layer of security to protect against intrusion, ensuring that only company users access the system. To accounting firms, this means constant protection against cyber threats, with a safer place to keep or manage financial data.

Regular Vulnerability Testing

Another important principle in keeping a system secure is regular testing for vulnerabilities. Eleven does frequent vulnerability testing so as to find any weak points that may be appearing in their software.

Eleven's proactive approach keeps them a step ahead of newly emerging threats by patching vulnerabilities before they can be effectively exploited.

Testing enables Eleven's security team to rank software according to the level of potential risks and to implement updates when needed with the purpose of keeping the system secure. It provides an additional warranty for accounting firms that Eleven takes care of regarding protection against cyber threats and hosts a reliably secure environment for maintaining financial information.

Data Encryption

Encryption is one of the most powerful means to ensure sensitive information. Eleven deploys end-to-end encryption, not only when data is in transit but at rest. This means that all data sent between its users and stored within servers is encrypted and unreadable for unauthorized users.

Eleven's encryption protocols are matched by the best in industry standards and include protocols such as AES-256 to ensure your financial information remains private. Advanced encryption from Eleven creates a layer of security that keeps your data safe against potential breaches.

Daily Data Backups Across Multiple Locations

Eleven implements a very strong backup system since the loss of data can have devastating effects. There is a daily data backup on various servers set up in different locations. If there is a need to find the information, it can be restored with as minimal delay as possible through this kind of backup. Backup helps to prevent data loss in the unfortunate event of an unforeseen circumstance or incident, such as a system crash or natural disaster.

Multi-Factor Authentication (MFA)

Multi-factor authentication (MFA) adds security. In MFA, users may be required to provide a code sent to their mobile device or use biometric authentication in addition to their password.

Eleven's MFA system helps in reducing the possibility of unauthorized access since sometimes these credentials can be compromised. It adds complexity to the task hackers face in breaching any account to steal sensitive data from unauthorized users. For CPA and accounting firms operating in sensitive financial data, MFA provides an essential layer of protection.

Role-Based Access Control (RBAC)

Not everyone within a firm needs access to all data. RBAC provides restricted access to data depending on the role of the user in the company's workforce. The access is strictly granted to those who are supposed to have it.

Such a system of RBAC Web Eleven can grant access rights to given roles that administrators decide upon and ensure sensitive information is disclosed only to people who need to know. This structure minimizes the chances of internal data breaches and human mistakes since employees will have access to information relevant only to their functions.

Compliance with Industry Standards

Accounting companies have to be observant of the standards set forth within their industries. Data security and privacy best practices at Eleven meet strict compliance requirements for standards such as GDPR, SOC 2, and HIPAA standards.

By meeting these regulations, Eleven gives clients a sense that our accounting platform meets the standards set by the industry regarding sensitive data protection. Compliance also makes Eleven suitable for firms in regulated industries where strict security and privacy requirements must be met.

User Activity Monitoring and Alerts

Activity monitoring by Eleven is the security feature that allows tracking and reviewing of actions taken on the platform. This monitoring system pegs unusual behavior, like several failed login attempts, and data is accessed from unknown locations. In case something suspicious surfaces, an alert is triggered right there and then, and the security teams can immediately respond to this.

User activity monitoring for accounting firms helps to avoid unauthorized access and ensures another layer of transparency. The feature will come in handy for all those firms that need to ensure their internal politics of security are carefully followed, and any traced threat to security will be responded to as fast as possible.

04 | Conclusion

Eleven's multilayer security provides a secure environment for accounting firms. Certified AWS data centers, advanced firewalls, regular vulnerability testing, encryption, and daily backups are the keys to keeping client data protected around the clock. Multi-factor authentication, role-based access control, and direct compliance with industry standards provide additional protection of Eleven against security breaches and make it a credible choice for firms operating in sensitive financial spheres.

With Eleven, the choice is clear: this is where security is absolutely paramount. All this makes Eleven accounting software robust and secure for your current accounting needs.