Top reasons to secure Tally data

One of the biggest challenges faced by small and medium enterprises is to secure confidential company data. Finances are the most crucial part of an organization. Handling of accounts, inventory bills, payroll and taxation involves a lot of effort. It is almost impossible to manually maintain business records. Therefore, companies invest in digital software so that the accounting is handled with utmost care. Tally products come with functionalities that include data security. It ensures secure connectivity with employees outside the organization. Data transferred between two systems are encrypted with enhanced versions. Synchronization configuration controls the systems that participate in data transfer. It encrypts and stores confidential customer data using TallyVault. Tally.ERP9 opens a new port only when there is a request for the same. This cannot be accessed by third-party applications.

Apart from personal data, finances play a key role in businesses. Technological advancements have made calculations simple. The introduction of Tally has been a boon to all types of industries. It is an asset to any organization. It is believed that Tally has helped companies to manage finances peacefully, while employees focus on growth and development.

Organizations conduct regular audits and file reports based on the same. Machine-produced data saves time and effort. Companies using Tally have the ability to grow 50 times faster than other companies that use traditional forms of accounting. Businesses often suffer from threats to data security. These threats increase when computers are networked with the Internet.

Some of the advantages of securing Tally data are as follows:

1. Confidentiality- Data remains safe. Unauthorized people do not get access to your data. Tally contains confidential data that can be used by competitors or any other people to cause harm to the company or its reputation.
2. Data Integrity - It's of utmost importance for the data in Tally to be complete. If Tally data is not secured, because of which there is loss of data, the data available loses its meaning.
3. Keep a track of cash inflows and cash outflows- Tally keeps a record of payables and receivables losing this data can wreck havoc to your business.
4. Peace of mind- you can rest assured and focus on other important aspects of business.
5. Lastly, once your data is secured, you can analyze your profits and take critical decisions for your business whether you should look for expansion or maybe introduce a new product etc.

Data privacy can be enforced by using data fragmentation. This maintains data privacy and avoids unauthorized accesses. Data is constantly under threat from intruders and therefore it is important to maintain data integrity during all phases. Companies opt for storage consolidation techniques by placing data on multiple server. The motive behind this is to provide secure backups whenever required.

Accuracy and reliability of data depends on the amount of care taken by organizations to secure sensitive information. Although data from Tally is placed on multiple-severs, companies can protect data integrity. It ensures regular back-up of data and prevents access to unidentified users. The IT team along with the finance department work together to ensure complete safety and security of data.

Riyaz Tamboli is a Director at Antraweb Technologies Pvt. Ltd., a leading provider of Tally ERP solutions built on the Tally platform.