As an accounting firm, safeguarding your clients' financial information is essential. With the rise of data breaches and cyber-attacks, it is crucial to ensure that your firm's data is protected. Managed Service Providers (MSPs) have become popular among businesses. However, when it comes to hiring an MSP for an accounting firm, there are several factors to consider.

It is important to find an MSP that not only meets your technology needs but also understands the unique challenges you face. In this blog, we will explore the key things that accounting firms should consider when hiring an MSP to ensure that they make the right choice for their business.

Key Things To Consider When Hiring a Managed Services Provider

To select the right MSP for your firm, consider the following key factors.

1. Compliance Expertise and Experience

Choose an MSP with a proven track record of expertise and experience in compliance. This means having a comprehensive understanding of the requirements of regulations. In addition, the MSP must have the ability to develop and implement policies, procedures, and controls to ensure compliance.

Related article: FTC Safeguards Rule: What You Need To Know

2. Robust Data Encryption and Access Controls

Data encryption and access controls are essential elements of a successful information security program. Select an MSP with the know-how to implement these measures to safeguard your clients' nonpublic personal information against unauthorized access.

3. Effective Monitoring and Alerting

Make sure the MSP offers 24/7 monitoring and alerting services to identify and respond to security incidents in real-time. This involves quickly recognizing and isolating security threats, as well as providing timely incident response and remediation services.

4. Scalability and Flexibility

As your accounting firm grows and evolves, so will your data protection needs. Look for an MSP that can scale its services up or down to meet your evolving needs.

5. Compliance Reporting

The MSP should provide regular compliance reporting to help your accounting firm demonstrate compliance. For accounting firms, this is the GLBA and the FTC Safeguards Rule. This includes documentation of security policies, procedures, and controls, as well as conducting regular security assessments and audits.

6. Strong Reputation and Customer Service

Select an MSP with a reputation for excellent customer service and support. This includes the ability to provide timely and responsive support. You should check their track record of working successfully with other accounting firms in the industry.

By considering these key factors, your accounting firm can find an MSP with the capabilities necessary to protect your clients.

Final Thoughts

Hiring an MSP for your accounting firm can be a smart move that saves you time and money while improving your cybersecurity posture. Working with an MSP that has an accounting background like Today Cybersecurity can provide you with a unique advantage.

With their expertise in both cybersecurity and accounting, you can rest assured that your business is protected from cyber threats. Take the first step to securing your accounting firm. Schedule a call with us today!