{"id":69333,"date":"2021-12-23T10:40:23","date_gmt":"2021-12-23T08:40:23","guid":{"rendered":"https:\/\/www.sage.com\/en-za\/blog\/?p=69333"},"modified":"2026-01-29T14:23:26","modified_gmt":"2026-01-29T12:23:26","slug":"what-cfos-need-to-know-about-cybersecurity-and-the-cloud","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-za\/blog\/what-cfos-need-to-know-about-cybersecurity-and-the-cloud\/","title":{"rendered":"What CFOs need to know about cybersecurity and the cloud"},"content":{"rendered":"
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\n\t\t\t\t\t\tWhat CFOs need to know about cybersecurity and the cloud\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"\"\t\t\t\tZia Taylor<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

There is a common misconception that the IT team is solely responsible for cybersecurity.<\/p>\n\n\n\n

However, cybersecurity is everyone’s <\/em>responsibility, especially since people can be weak links in securing the business. Whether it’s phishing, malware or data leaks, human error is often at the root of the problem.<\/p>\n\n\n\n

When it comes to cloud security, the issues aren’t always related to the technology \u2013 cloud infrastructure can be just as secure as enterprise data centres. Your problems will arise if the cloud is not implemented correctly and used without proper security.<\/p>\n\n\n\n

When using cloud infrastructure, your employees must understand their responsibilities, and your company should implement processes that protect users from themselves.<\/p>\n\n\n\n

Remote working and cybersecurity challenges <\/strong><\/p>\n\n\n\n

Your security risks may have increased because of the effect of COVID-19 on remote working. As a result, your employees are more likely to share data, including financials, across personal computers and other devices.<\/p>\n\n\n\n

Ideally, your company should have confidentiality policies and guidance for employees to store documents securely.<\/p>\n\n\n\n

You should check with your IT provider to see if the system is as secure for remote workers as it is for office-based employees. Because home broadband connections are frequently less secure than business-grade connections, you should think about using a Virtual Private Network (VPN).<\/p>\n\n\n\n

However, some businesses may have cut corners to provide employees access to remote work via the cloud.<\/p>\n\n\n\n

According to Sage research<\/a>, 45% of finance leaders are concerned about the growing threat of cybercrime, and 95% don\u2019t know which data to trust.<\/p>\n\n\n\n

It seems like many firms will continue with remote working<\/a>, which means you\u2019ll need to adapt your security solutions to the new mobile workforce that relies on various technologies.<\/p>\n\n\n\n

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Download your free Digital CFO white paper<\/a><\/div>\n<\/div>\n\n\n\n

The importance of cybersecurity for CFOs<\/h2>\n\n\n\n

As more financial activities operate remotely through the cloud, CFOs will need to develop security measures tailored to the finance department.<\/p>\n\n\n\n

Many of your financial procedures already running remotely may contain some of your company’s most sensitive information, such as financial data from customers and suppliers.<\/p>\n\n\n\n

You are in charge of some of your company’s most precious data<\/a>. Therefore, security should be a top priority in all you do. If your company is hacked and your data is stolen, you may be held accountable.<\/p>\n\n\n\n

With finance teams being particularly vulnerable to cyberattacks, CFOs need to be well-versed in emerging IT security challenges, dangers, and legal frameworks. They must coordinate with both IT and risk managers to ensure that new cybersecurity risks arising from the adoption of remote work do not outpace the policies established to protect susceptible data.<\/p>\n\n\n\n

Bottom line: You shouldn’t overlook emerging security vulnerabilities, but you also shouldn’t go it alone.<\/p>\n\n\n\n

When it comes to financial data, CFOs should be wary of the following threats:<\/p>\n\n\n\n