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Use these five easy steps to evaluate the potential threats to your accounting data

by , 12 November 2014
If your business relies on an electrical accounting system, IT failures could spell disaster.

That's why you need to have a plan of action you can follow to minimise potential risks to your accounting data.

This will help you protect your data and reduce your company's down-time.

We have five steps you can take to quickly create a plan so IT and electrical disasters never leave your company's finances in the dark...


Create a plan of action for data recovery by following these five steps

Step #1: Look at streams of revenue you can and can't do without if disaster strikes.
For example:
If you're in the retail industry, you need to be able to sell stock to your customers when they require it or your business won't make money. If the IT infrastructure handling payments and invoicing breaks, will you be able to continue trading? And will you be able to recover data from past sales?
Step #2: Now you're ready to evaluate threats specific to your accounting system.

Try to identify what the most common threats are. For example, load-shedding is the biggest threat to businesses at the moment.
Step #3: Create control measures you can use to limit the impact of such a disaster.

For example, invest in a system that allows you to save your data before the power dies or install your own back-up power supply.
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Step #4: Plan how you'll implement these controls.

For example, you could put an Uninterruptible Power Supply (UPS) system in place or get a back-up generator.
Step #5: Do response preparation tests.

These work by simulating an IT disaster and seeing how your system copes.
This ensures you can execute and implement your plan of action if there's an emergency. It's basically a dry-run where you deploy teams and execute the plans and arrangements.
By following these five steps, you can prevent IT disasters from wreaking havoc on your company's accounting data. 
For more on how to protect your digital accounting data, check out the Practical Accountancy Loose leaf Service.

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