When you think about a business security breach, you most probably think about outsiders who are launching an attack on an enterprise. This is not surprising, since much of the press around these issues focuses on external attacks.
For example, the hacking group Anonymous has been linked to a number of major attacks on key global brands. Sony, Coca Cola, and many others have experienced data loss, network security breaches, or online performance degradation as a result.
However, there is another category of security issue that can, arguably, be much more critical to keeping your expense report data private: Ensuring that you’ll be able to keep internal intruders from learning more than they need to know about the inner workings of your business.
There are many situations in which providing too much access to expense report data or other types of sensitive documentation can be extremely problematic for a business:
1) High-Level Figures Decide To Leave For The Competition Or Start A Business
While many great talents within your enterprise have probably willingly agreed to sign a non-compete contract, this certainly does not apply to every potential rival. Having too much data on your internal processes can give future competitors an undeserved advantage.
2) Members Of The Enterprise Are “Head Hunted” Away By Competitors
In many markets around the world, there is a dearth of talent to lead businesses at the executive level. Many Fortune 500 and Global 1000 companies engage in aggressive recruiting practices to help fill out the executive ranks, which could handicap you.
3) Employees’ Homes And Devices Are Less Secure Than Corporate Devices
Even when all possible contingencies are planned for, employees working from home or in other non-traditional situations may simply not be equipped to handle appropriate security standards for your expense report data. This might result in compromised data.
With all of that being the case, a software solution for expensing should do the following:
— Ensure that each member of the team only has access to the data they truly need.
— Provide the kind of security necessary for safe, efficient, global access to data.
— Continuously update and alert top stakeholders to any appearance of wrongdoing.
— Apply consistent standards and a single process regardless of any user’s hardware.
Security is crucial, but you cannot let security issues prevent innovation — in your expense report or elsewhere in the business. Ensure that your next innovative solution comes with the level of security you deserve and need.