Why Auditors Should Stop Choosing Convenience Over Security

USING multiple channels to collaborate with customers could lead to data breaches and financial loss, according to a new investigation commissioned by Ideagen Plc.

According to the survey, out of 547 accounting and consulting professionals in the UK and in the United States, auditors primarily choose convenience over security when sharing files with and among clients.

Email and Microsoft Teams were found to be the most common file sharing methods used by auditors, due to their convenience and ease of use, despite 87% using a customer portal within their organization.

Although this is the default for most companies, Idea calls on businesses to consider alternatives to email for providing sensitive data to avoid jeopardizing company privacy, sensitive customer data, and potentially subjecting them to civil and criminal penalties.

In addition to compromising security, the survey found that having too many options for sharing documents and tracking deliverables creates a barrier to successful collaboration. 40% of auditors agreed that deadlines are missed because customer inputs and approvals are not received on time, negatively impacting their customer relationships and customer retention.

To deal with these problems, Idea urges companies to consider a secure customer portal as a better solution for exchanging documents containing private customer data; but the one that best suits its business needs and its stakeholders.

Ideagen Plc is a leading global provider of information management software and its secure, cloud-based document collaboration software, Huddle, is the portal of choice for government departments worldwide. UK and American as well as big names such as the National Audit Office, EDF Energy, disney and the defense department.

Key Ryanproduct manager for Huddle at Ideasaid: “Even though email is generally the default and most convenient method for sharing files, it is one of the most popular targets for cyberattacks, and professionals entrust personal and sensitive information to it. themselves and their customers.

“Furthermore, the more channels there are for sharing data, the more fragmented the collaboration process becomes. Files can be scattered among multiple teams, updates wait in emails, and tasks get forgotten. It’s not only unproductive, but it can delay projects and introduce unnecessary risk.

“We urge auditors to choose a client portal that brings maximum benefit to you, your stakeholders, and your business.”

Additionally, an effective customer portal will alleviate the difficulties associated with emailing customer information, such as encrypting files and creating, managing, and communicating hundreds of passwords.

Ideagen’s Award-winning collaboration portal software, Huddle, alleviates the need for long email threads and missed document reviews and approvals.

Huddle enables auditors to manage tasks, content, approvals, and team communication, with the ability to securely share content with anyone who needs access, from other internal departments to customers and partners.

To download the UK and US white papers, visit:

2022 Customer Engagement Survey: UK results | Huddle https://www.huddle.com/resources/whitepapers/client-engagement-survey-2022-how-do-cybersecurity-and-ease-collaboration-0/

2022 Customer Engagement Survey: US Results | Huddle https://www.huddle.com/resources/whitepapers/client-engagement-survey-2022-how-do-cybersecurity-and-ease-collaboration/

ENDS

On Idea

Ideagen’s Software helps businesses comply with regulations and manage risk.

Idea is a leader in the £31.2 billion regulatory and compliance software market, serving highly regulated industries such as life sciences, healthcare, banking, finance and insurance. Idea made 25 acquisitions to strengthen its market leadership.

More than 10,000 organizations use Ideagen’s software, including nine of the UK’s top 10 accounting firms, 7 of the largest aerospace and defense companies and 75% of the major pharmaceutical companies.

Idea has a diverse customer base including blue chips, global brands such as Heineken, British AirwaysBAE, Aggreko, US Navy, Bank of New York and Johnson Mattheyas well as 250 hospitals across the UK and U.S.

Idea has its head office in the UKlisted on the AIM market of the London Stock Exchange (Ticker: IDEA.L), and has key hubs in the UKEU, US, Middle East and South East Asia. For more information, visit www.ideagen.com.

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