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Ransomware 101
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The Importance of Project Cost Management
/in Blog, ERP Software /by lindsayProject-based businesses need more than basic accounting. The income statement has a section for revenue and a section for costs. This is great for preparing the tax return or reporting to shareholders. If you want to know how much you’re making or losing on projects, you won’t find it in the income statement. You’ll need specialized project accounting software.
Acumatica Cloud ERP can help. It includes Project Accounting Software that integrates with General Ledger, Accounts Payable, Accounts Receivable, Sales Order Management and other business management modules. Project accounting management enables project cost tracking (covering materials, services, labor and inventory items), budget reporting and billing based on specific project, task progress or completion percentage. Users can compare project costs with original and revised budgets while considering all project costs.
Project accounting figured prominently in Acumatica:
Relevant Project Accounting Applications in Acumatica 2019 R2
Acumatica 2019 R2 carries forward a full set of project accounting features. It incorporates useful applications to help businesses analyze and monitor the cost of projects, including:
Other Benefits of Project Cost Management
Cost tracking, budget reporting and flexible, accurate billing are just a few advantages of using Acumatica for project accounting. Other beneficial functions include:
Acumatica also supports multi-currency project accounting. Project managers and accountants can see actual revenues and costs and calculate profitability using the project currency, while customers can see costs in their native currency. With revenue recognition, billing rules can be defined to identify revenue from completed tasks or a percentage of project completion.
To learn more about Acumatica Project Accounting, contact us for a free product tour or software demo.
Additional Resources
How ERP Software Solves Your Business’s Top Financial Management Challenges
5 Benefits of ERP for Accounting and Financial Management
The Value of Implementing an ERP for Professional Service Organizations
Discover the Dangers of the Dark Web
/in Blog, Security /by lindsayIt’s too late for a Halloween story, but year-round, it’s the things in the dark that scare us. This is true in the online world as much as the real world.
The Dark Web Defined
The web lets us instantaneously access information and resources all around the world by typing a URL into a browser, but there’s a part of the web that’s not easily accessible. URLs that aren’t known to the search engines are called the deep web, and much of that is innocuous, such as pages under development that aren’t yet released to the public. A small corner of the deep web is the more dangerous dark web, where anonymity is preserved and criminality thrives.
The dark web is a vibrant marketplace, filled with stolen data (account numbers, social security numbers, passwords, and other personal information) and tools for hacking. When a data breach occurs, it’s often made possible by malware sold on the dark web, and the stolen data often ends up for sale there, as well. For all the value this data has to its owners, there’s so much of it that it’s cheap for criminals to buy: according to Experian, social security numbers sell for just one dollar.
Dark Web Dangers for Business
As both the source of hacking tools and the destination for stolen data, the dark web is a threat to data security. The dark web is also an inspirational source for criminals. There are those hacking kits that are available, plus guides on how to deploy malware and ransomware, and how to open fraudulent accounts. Wannabe criminals who don’t have their own technical skills can rent a botnet to execute a DDoS attack or buy admin credentials to gain access to a company’s systems.
It can be used in other ways to harm businesses, too. There are sites that aggregate personal information—not just your accounts but also your social media—that can be used to threaten executives.
Learn more in What is the Dark Web and Why Should We Care?
Shine Light into the Dark Web
For businesses to protect themselves against the dark web’s dangers, the first step is to know when the dark web is brushing up against them. Monitoring tools allow companies to detect if any data stolen during a breach has been made available on dark web sites. You can make sure the data is yours through watermarking or fingerprinting.
In addition to monitoring for data from your business, you should also monitor the dark web for references to your business, including names of employees. Monitor for references to specific software and hardware you use, as that chatter can reveal vulnerabilities and potential attacks.
Beyond monitoring, make sure you have a strong cybersecurity process in place. Ensure patches are applied quickly, firewall rules are correct, and consider intrusion detection and data loss prevention software to help prevent theft of data. Make sure your employees are trained to detect phishing emails and to use safe computing practices such as strong passwords.
CCS Technology Group provides security services to help businesses against the dangers of the dark web. Get a dark web scan to learn how to stay safe at Halloween and year round. What you don’t know will hurt you. A Dark Web Scan can uncover if your data is for sale, and tell you if your personal or business data may be at risk.
Additional Cybersecurity Resources
Create An Information Security Culture to Protect Your Data
6 Ways to Keep Your Cloud Secure
The cybersecurity employee training checklist
Choose the Right Backup Strategy to Meet Time and Space Requirements
/in Blog, Business Continuity /by lindsayThere are multiple reasons businesses need to backup their data. You need the ability to restore data if it gets lost or corrupted, or if a disaster requires shifting processing to an alternate site. Compliance policies may require retaining copies of data for a lengthy period of time. Analytics projects may need years’ worth of history, and new software projects often require copies of production data for development and testing.
Given all these reasons for making backups, implementing an effective backup process is a critical IT function.
Types of Backups
All critical systems need to be backed up daily, but not every piece of data needs to be backed up every day. There are different kinds of backups that allow the process to run more efficiently.
Once you’ve made a full backup, you can use either differential or incremental backups to copy only the changed data. This makes the backup process faster and requires less storage space. However, it makes the recovery process longer, as recovering means first restoring the full backup and then applying the changes on top of that.
Creating a synthetic full backup every week or month allows you to use incremental backups and shorten the recovery process. On a regular schedule, the incremental changes are applied to the last full backup. This effectively creates a current full backup that can be restored rapidly.
Backup Capabilities
In addition to the different types of backups described above, there are some backup features that can help speed recovery in specific scenarios.
With all these options, choosing an appropriate backup strategy requires careful consideration. Contact CCS Technology Group to develop and implement a backup solution that protects your data and your business.
Additional Backup Resources
Effective Backups Need to Address These Challenges
The Differences Between Backups, Disaster Recovery, and Archiving Matter
Understand the Different Cloud Options for Your Backup and Disaster Recovery Strategy