by Felicien | Oct 27, 2017 | Education
Migrating business data to the cloud has been like a universal cure for a lot of businesses.
Having vital information in the cloud allows a company to spend less on IT and infrastructure, which they can put into other projects. It also allows their employees to access that information from anywhere, discussing a job with clients onsite rather than being restricted to the office.
Financial Institutions, such as banks, accountants and wealth management offices are now looking into the viability of moving your financial information to the cloud. This could mean either public, private, hybrid or community clouds as a viable place to store data. Cloud-based business is becoming the norm today and allows for plenty of flexibility and scalability in storage. But this also presents a unique set of challenges and risks that have to be addressed.
Migrating this sensitive data has inherent external obstacles and risks that these organizations need to understand and plan for. There are also in-house factors that each individual organization must deal with. These in-house problems can lead to hasty planning that can result in poor implementation. Moving to the cloud for these organizations has to be seen as not a competitive advantage, but as a necessity. However, before making the move, these companies need to be aware of the benefits as well as the downfalls of each cloud type and what it does with their data. Some reasons for the delay in acceptance of the cloud include:
Security in the cloud. Public clouds offer smaller costs and discounts, but their data may not be as secure as they would like. Although many cloud operators receive security certifications and offer encryptions, they still may require another level of security for the cloud to be a consideration. Cloud access security brokers (CASB) may be another technology that financial institutions would need to adapt to make the cloud viable for their information. CASB is a service that would sit between the financial institution and the cloud infrastructure. It’s like a gatekeeper of sorts; it allows the organization’s security policies to reach beyond its own infrastructure to the cloud. “By 2020, 85% of large enterprises will use a cloud access security broker platform for their cloud services,” according to the “Gartner Market Guide for Cloud Access Security Brokers” from October 2016.
Visibility into the cloud. Financial institutions won’t even consider moving over to a cloud-based platform until they are assured to have the features that they want. Some of those features include auditing capability, transparency, and real-time log access. These financial institutions would require as much access and input into their cloud files as they do in their own onsite infrastructure. CASB, for instance, would give the institutions access to user data from their employees as well as anyone who accessed that information from any user or device.
Legal and compliance requirements. Financial organizations have to operate under a strict regulatory structure that imposes regulations on how they operate and how they secure their operations. Any potential issues could result in penalties if something is found during an audit. Organizations have to perform their due diligence for anything that is outsourced. Sending data to the cloud is considered a form of outsourcing. CASB’s help with security, too. They have the ability to perform highly sophisticated misuse and threat detection, as well as the option to block at the user, object and device level.
Availability of the cloud. The worry of availability of cloud vendors is a worry shared by financial organizations. What happens if a vendor goes out of business? What if the vendor services are down for extended periods of time and the organization loses access to its data? These are two big and very real concerns that organizations have to deal with. If an organization has time-sensitive agreements or settlement applications, will the platform be able to accommodate them? Then there is having to move platforms. If an organization has to move from one vendor to another, they most likely will have to pay to adapt to a new platform switch. While the applications that run in a cloud environment will run from one platform to another, the dashboards are usually specific to a platform, so a new dashboard would have to be adopted.
Is there a business purpose for the cloud? The most likely reason for a financial organization not adopting the cloud could be that they simply haven’t found a business reason to move to the cloud. Whether or not the cloud is the norm for everyone else and the technology of the future, if it doesn’t make sense right now for the organization to use it, then they won’t. As with any technology, it should be used to perform or achieve a business goal, not just to say you have the latest new technology.
So what is a financial organization to do? If the organization is considering the cloud, maybe they can try a smaller move of less critical data to a private cloud as a test. This could give them insight into the security of their data and the viability of the platform. Some organizations would then have the confidence to pursue the development of a cloud-based migration strategy.
by Felicien | Oct 27, 2017 | Education
A new and malicious strain of ransomware called Bad Rabbit, began spreading this past Tuesday October 24th, with most of the reported infections seen in Russia. However, because the Bad Rabbit virus is self-propagating, and can spread across corporate networks, international organizations should remain particularly vigilant.
A small number of infection attempts have been logged in Ukraine as well. CERT-UA, the Ukrainian Computer Emergency Response Team, said there had been a “massive distribution” of Bad Rabbit in the country. An earlier bulletin from the agency said the Odessa airport and Kiev subway had been affected by a cyber attack but didn’t specify if Bad Rabbit had been involved. It has since been confirmed that Bad Rabbit was, in fact, the culprit.
First Russia, Then Ukraine, Now the US: US Department of Homeland Security Issues Warning
Early Wednesday morning, leading anti-virus security company, Avast, reported that the Bad Rabbit virus had made its way to the US. Though specific breach details are difficult to come by, the US Department of Homeland Security (DHS) issued a warning about Bad Rabbit yesterday stating:
“US-CERT has received multiple reports of Bad Rabbit ransomware infections in many countries around the world. This suspected variant of Petya ransomware is malicious software that infects a computer and restricts user access to the infected machine until a ransom is paid to unlock it. US-CERT discourages individuals and organizations from paying the ransom, as this does not guarantee that access will be restored. Using unpatched and unsupported software may increase the risk of proliferation of cybersecurity threats, such as ransomware.”
DHS urged individuals and businesses to take notice and be vigilant in the face of this latest malware attack. To combat the threat, DHS is urging IT professionals to review US-CERT Alerts TA16-181A and TA17-132A, each of which describes recent ransomware events.
While cybercriminals can often be hard to track and prosecute, DHS is urging professionals to recognize the importance of making explicit reports in the case of an attack. The organization asked any potential victims of Bad Rabbit to report ransomware incidents to the Internet Crime Complaint Center (IC3) immediately.
Remember the Petya Virus Back in June? Bad Rabbit is Similar and Just as Malicious
Bad Rabbit has many similarities to the Petya virus outbreak of June 2017. Both malware families use a similar style of ransom demand and employ a self-spreading mechanism. Both threats also contain a component that targets the master boot record (MBR) of an infected computer, which overwrites the existing MBR.
However, while Petya uses the EternalBlue exploit to spread in addition to classic SMB network spreading techniques, Bad Rabbit doesn’t use EternalBlue and only employs the latter technique. Secondly, Petya was technically a wiper rather than ransomware, since there was no way of retrieving a decryption key. Our analysis of Bad Rabbit confirms that it is not a wiper and encrypted data is recoverable if the key is known.
One of the most notable aspects of Bad Rabbit is its use of at least three third-party open-source tools. Aside from Mimikatz, Bad Rabbit also uses the open-source encryption tool DiskCryptor to perform encryption. It also uses drivers from ReactOS, an open-source alternative to Windows, thus reducing the amount of detectable suspicious activity on an infected computer.
Breaking Down the Bad Rabbit: How Does the Malware Invade Business Networks
The initial infection takes hold of networks through drive-by downloads on compromised websites. The malware is disguised as a fake update to Adobe Flash Player, designed specifically to dupe victims into infecting their machines. The download originates from a domain named 1dnscontrol[dot]com, although visitors may have been redirected there from another compromised domain.
Once installed onto a victim’s computer, Bad Rabbit attempts to spread itself across their network via SMB (Server Message Block). In order to obtain the necessary credentials, Bad Rabbit comes packaged with a version of Mimikatz, a hacking tool capable of changing privileges and recovering Windows passwords in plaintext. The malware also uses a hardcoded list of commonly used default credentials to attempt to guess passwords for even easier access.
Once the Bad Rabbit gains access, the virus works swiftly to encrypt the contents of a computer and asks for a payment of 0.05 bitcoins, or about $280 (£213), according to recent reports. Even worse? Once the ransom demand has been made, a countdown begins flashing on the screen, urging victims to pay up before the clock runs out. If payment isn’t made before the clock-out, the ransom amount just gets higher.
However, take note of this word to the wise: victims are strongly encouraged not to pay ransom demands. Why not? For one, there is absolutely no guarantee that the payment will restore data access. Secondly, much like the refusal to negotiate with terrorists, refusing to pay the ransom discourages criminals from using similar attacks in the future. If victims don’t pay, cybercriminals will realize their attempts at robbery won’t pay off.
Endangered Data: Understanding How Bad Rabbit Deploys Encryption
Once it is installed, Bad Rabbit will search for and encrypt machine data. Bad Rabbit takes no prisoners once the invasion is complete and all files bearing the following extensions are up for grabs:
.3ds .7z .accdb .ai .asm .asp .aspx .avhd .back .bak .bmp .brw .c .cab .cc .cer .cfg .conf .cpp .crt .cs .ctl .cxx .dbf .der .dib .disk .djvu .doc .docx .dwg .eml .fdb .gz .h .hdd .hpp .hxx .iso .java .jfif .jpe .jpeg .jpg .js .kdbx .key .mail .mdb .msg .nrg .odc .odf .odg .odi .odm .odp .ods .odt .ora .ost .ova .ovf .p12 .p7b .p7c .pdf .pem .pfx .php .pmf .png .ppt .pptx .ps1 .pst .pvi .py .pyc .pyw .qcow .qcow2 .rar .rb .rtf .scm .sln .sql .tar .tib .tif .tiff .vb .vbox .vbs .vcb .vdi .vfd .vhd .vhdx .vmc .vmdk .vmsd .vmtm .vmx .vsdx .vsv .work .xls .xlsx .xml .xvd .zip
Unlike most ransomware infections, the encrypted files aren’t given a special extension. Instead, to check if they have been already processed, the ransomware appends a special marker at the end of an encrypted file, a Unicode “encrypted” string.
Once individual files are encrypted, Bad Rabbit will then perform a full disk encryption. After the system is restarted, a ransom note is displayed, demanding bitcoin payment for decryption.
Symantec’s Swift Response: Protections in Place for Symantec Users
Symantec customers can breathe a sigh of relief knowing that they are indeed protected against Bad Rabbit activity. Symantec has a variety of anti-virus, advanced machine learning, behavior detection, network protection and data security tools in place to keep users safe. For full details, check out the list of Symantec protection updates below:
Antivirus Updates
BadRabbit
BadRabbit!g1
BadRabbit!g2
SONAR behavior detection technology Updates
Cryptlocker!g80
Advanced Machine Learning Updates
AdvML.B
Network Protection Products
Malware Analysis Appliance detects activity associated with BadRabbit
Customers with Webpulse-enabled products are protected against activity associated with Bad Rabbit
Data Center Security Products
Data Center Security Server anti-malware mechanisms protects customers
Data Center Security Server Advanced protects against the drive-by-download and Mimikatz
Staying Vigilant, Aware and Prepared: Staying Tuned in Is the Best Defence Against Cyber Infections
Business organizations are particularly vulnerable to threats like Bad Rabbit because of the infection mechanism they deploy. Once one computer on a network becomes infected, Bad Rabbit will attempt to copy itself to other computers on the network, which could potentially do serious damage to poorly secured networks.
As news around Bad Rabbit continues to develop, US business professionals should be on high alert – working deliberately to monitor and protect their business networks and implement security measures like those outlined by Symantec above. Be wary of Adobe Flash download prompts. Talk to other business professionals to spread the word.
If you’re worried you’ve been affected or could be affected, reach out to a local cybersecurity expert for guidance and consultation. When professionals band together proactively, cybercriminals can and will be stopped in their tracks. Until then, stay alert, stay vigilant and stay tuned for more Symantec updates.
by Felicien | Oct 26, 2017 | Education
Starting on Tuesday, October 24th, reports of a new strand of ransomware dubbed Bad Rabbit, began appearing in Russia and Ukraine. The virus is a wide-reaching and fast-spreading malware infection that initially targeted media and government institutions in Europe.
The virus targeted institutional giants in Ukraine including a local airport, the Ministry of Infrastructure and Kiev’s public transportation system. Russia experienced similar hits to critical agencies including Interfax, a local news service that recently issued a statement to announce they had been hacked and were working to restore their network. Initial reports about the Bad Rabbit virus note that the virus is specifically attacking media outlets, and an additional Russian newsgroup, Fontanka.ru, was also affected.
“Our researchers have detected a number of compromised websites – all news or media sites,” said Russian security company Kaspersky in a recent blog. “Based on our investigation, this is a targeted attack against corporate networks, using methods similar to those used in the Not Petya and ExPetr attack. However, we cannot confirm officially that it is related to ExPetr.”
Regardless of its origins, experts agree that Bad Rabbit now joins NotPetya and WannaCry as another of 2017’s major ransomware-style malware epidemics.
Touching Down in the US: Bad Rabbit Spreads to North America and Has US Department of Homeland Security Taking Notice
Early Wednesday morning, leading anti-virus security company, Avast, reported that the Bad Rabbit virus had made its way to the US. Though specific breach details are difficult to come by, the US Department of Homeland Security (DHS) issued a warning about Bad Rabbit yesterday stating:
“US-CERT has received multiple reports of Bad Rabbit ransomware infections in many countries around the world. This suspected variant of Petya ransomware is malicious software that infects a computer and restricts user access to the infected machine until a ransom is paid to unlock it. US-CERT discourages individuals and organizations from paying the ransom, as this does not guarantee that access will be restored. Using unpatched and unsupported software may increase the risk of proliferation of cybersecurity threats, such as ransomware.”
DHS urged individuals and businesses to take notice and be vigilant in the face of this latest malware attack. To combat the threat, DHS is urging IT professionals to review US-CERT Alerts TA16-181A and TA17-132A, each of which describes recent ransomware events.
While cybercriminals can often be hard to track and prosecute, DHS is urging professionals to recognize the importance of making explicit reports in the case of an attack. The organization asked any potential victims of Bad Rabbit to report ransomware incidents to the Internet Crime Complaint Center (IC3) immediately.
So, How Does It Work? Understanding How Bad Rabbit Takes Business Networks Hostage
Bad Rabbit relies on fooling potential victims and having them play an active role in the infection. The initial virus installer masquerades as an Adobe Flash update. Interestingly, this malware contains a list of hardcoded Windows credentials, most likely to allow brute force entry into devices, on the network, according to SonicWall Capture Labs Threat researchers.
While the virus might sound like a goofy cartoon character, the impacts of this ransomware variant are no laughing matter. The Bad Rabbit virus works swiftly to encrypt the contents of a computer and asks for a payment of 0.05 bitcoins, or about $280 (£213), according to recent reports. Even worse? The domain then flashes a countdown on the screen, giving victims limited time to pay-up before the ransom price increases.
However, as a rule of thumb, anyone infected is discouraged from paying the ransom. For one, there is absolutely no guarantee that the payment will restore data access. Secondly, much like the refusal to negotiate with terrorists, refusing to pay the ransom discourages criminals from using similar attacks in the future. If victims don’t pay, cybercriminals will realize their attempts at robbery won’t pay off.
Are SonicWall Users Safe? SonicWall’s Swift Response to Bad Rabbit
SonicWall users rejoice! Yes, SonicWall Capture Labs has released signatures to protect users against Bad Rabbit malware. These protections are available for anyone with an active SonicWall Gateway Security subscription (GAV/IPS). In addition, SonicWall’s Capture Advanced Threat Protection (ATP) sandboxing service is designed to provide real-time protection against new strains of malware even before signatures are available on the firewall.
While SonicWall has protections in place, users should actively ensure their networks are set up correctly to prevent infection. First and foremost, SonicWall customers should immediately ensure they have the Capture Advanced Threat Protection sandbox service turned on with their next-generation firewalls.
Additionally, SonicWall users should ensure that the Block Until Verdict feature is activated. For Bad Rabbit protection, there is no need to update the signatures on SonicWall firewalls, as they are automatically propagated to the worldwide installation base upon deployment.
Stopping the Bad Rabbit: Ensuring SonicWall Features are Set Up to Protect
To confirm that SonicWall Capture ATP is enabled login to the firewall and navigate the following steps:
For SonicOS 6.2 and earlier click Capture ATP | Settings. Ensure that “Block file download until a verdict is returned” is enabled.
For SonicOS 6.5 and later click Manage | Security Services | Capture ATP. Ensure that “Block file download until a verdict is returned” is enabled.
To confirm your Gateway Anti-Virus has the latest signatures navigate to:
For SonicOS 6.2 and earlier click Security Services | Gateway Anti-Virus. Use the search box and type “”
For SonicOS 6.5 and later click Manage | Security Services | Gateway Anti-virus. In the lookup search string box type “BadRabbit.“
In addition to these specific and technical protections, SonicWall has released a list of general recommendations for everybody, regardless of their security vendor, including:
Ensure all OS patches are applied
Use a reliable and up-to-date anti-virus solution to protect end-points
Ensure firewall and endpoint firmware are current and reliable
To proactively identify and mitigate new threats, install network sandboxing
To stop pre-existing threats, deploy a next-generation firewall with a gateway security subscription
Don’t Let Cybercriminals Dupe You, Your Clients or Colleagues: Banding Together to Keep Bad Rabbit from Spreading
As news around Bad Rabbit continues to develop, US business professionals should be on high alert – working deliberately to monitor and protect their business networks and implement security measures like those outlined above. Be wary of Adobe Flash download prompts. Talk to other business professionals to spread the word.
If you’re worried you’ve been affected or could be affected, reach out to a local cybersecurity expert for guidance and consultation. When professionals band together proactively, cybercriminals can and will be stopped in their tracks. Until then, stay alert, stay vigilant and stay tuned for more SonicWall updates.
by Felicien | Oct 26, 2017 | Education
NotPetya Malware Refuses to Let Up – Latest Malware Variant Bad Rabbit Targets Business Owners and is Spreading Fast
Since Tuesday, reports of the Bad Rabbit ransomware virus have been flashing across news screens everywhere. The virus started its rampage in Europe, bubbling up in Russia, Ukraine, Turkey and Germany. However, the full extent of the virus’ reach still isn’t fully understood.
The virus targeted institutional giants in Ukraine including the Ministry of Infrastructure and Kiev’s public transportation system. Russia experienced similar hits to critical agencies including Interfax, a local news service that recently issued a statement to announce they had been hacked and were working to restore their network. Initial reports about the Bad Rabbit virus note that the virus is specifically attacking media outlets, and an additional Russian newsgroup, Fontanka.ru, was also affected.
Bad Rabbit Touches Down in the USA: US Department of Homeland Security Issues Warning
Since starting its path of destruction in Europe, several instances of the Bad Rabbit virus have now been reported in the US. Given the recent history of cybersecurity concerns, especially around Russia, the US Department of Homeland Security (DHS) isn’t taking any chances.
DHS released a statement earlier this week in reference to the attack:
“US-CERT has received multiple reports of Bad Rabbit ransomware infections in many countries around the world. This suspected variant of Petya ransomware is malicious software that infects a computer and restricts user access to the infected machine until a ransom is paid to unlock it. US-CERT discourages individuals and organizations from paying the ransom, as this does not guarantee that access will be restored. Using unpatched and unsupported software may increase the risk of proliferation of cybersecurity threats, such as ransomware.”
DHS urged individuals and businesses to take notice and be vigilant in the face of this latest malware attack. To combat the threat, DHS is urging IT professionals to review US-CERT Alerts TA16-181A and TA17-132A, each of which describes recent ransomware events.
Experts Weigh In: Is Bad Rabbit a Nasty By-Product of NotPetya or ExPetr?
Cybersecurity experts at Kaspersky and ESET have both noted that Bad Rabbit seems to have clear ties to recent malware pandemics NotPetya and/or ExPetr.
“Our researchers have detected a number of compromised websites – all news or media sites,” said Russian security company Kaspersky – now embroiled in a spying controversy, in a recent blog. “Based on our investigation, this is a targeted attack against corporate networks, using methods similar to those used in the ExPetr attack. However, we cannot confirm officially that it is related to ExPetr.”
Regardless of its origins, experts agree that Bad Rabbit now joins NotPetya and WannaCry as another of 2017’s major ransomware-style malware epidemics.
How Does It Work? Understanding How Bad Rabbit Takes Hold of Business Networks
Unlike other recent malware epidemics, which spread more passively, Bad Rabbit requires potential victims to download and execute a fraudulent Adobe Flash installation file. Once the phony download and installation is executed, machines and networks become infected with the malware.
In an interesting turn of events, it seems whoever created Bad Rabbit is a fan of the HBO hit, Game of Thrones. The malware infection makes reference to character Daenerys Targaryen and her dragons as well as Grey Worm, another beloved character. However, Bad Rabbit is anything but fantasy or fiction. The impacts of the infection are real-life disasters for any business or organization infected.
Computers infected with the malware direct the user to a .onion Tor domain where they are forced to pay .05 bitcoin (roughly $276 USD in exchange for the decryption and restored access to their data. Even worse? The domain then flashes a countdown on the screen, giving victims limited time to act before the ransom price increases. While this year has seen some instances of destructive malware disguised as ransomware, experts are still not full sure if Bad Rabbit actually collects a ransom and decrypts data in every case of infection. However, in a test case, a researcher was successful in having data restored once the ransom was paid.
Responding to Bad Rabbit: What to Do If You Get Infected and How to Prevent the Virus Proactively
First and foremost, as a rule of thumb, anyone infected is discouraged from paying the ransom. For one, there is absolutely no guarantee that the payment will restore data access. Secondly, much like the refusal to negotiate with terrorists, refusing to pay the ransom discourages criminals from using similar attacks in the future. If victims don’t pay, cybercriminals will realize their attempts at robbery are useless.
In terms of preventing the attack, some researchers have introduced promising options for proactive vaccination. Early Wednesday morning, a Massachusetts researcher from Cybereason, claimed that he has a vaccine to protect customers from Bad Rabbit. Following this short series of fool-proof steps will automatically vaccinate your company’s computers, laptops, and other devices, keeping them safe from Bad Rabbit invasion:
First, create two files: C:Windowsinfpub.dat& C:Windowscscc.dat.
Then, go into the each of the file’s properties and remove all permissions to both files. When doing this, remove the inheritance so the files do not inherit the perms of the C:Windows folder.
As news around Bad Rabbit continues to develop, US business professionals should be on high alert – working deliberately to monitor and protect their business networks. Be wary of Adobe Flash download prompts. Talk to other business professionals to spread the word. If you’re worried you’ve been affected or could be affected, reach out to a local cybersecurity expert for guidance and consultation. When professionals band together proactively, cybercriminals can and will be stopping in their tracks. Until then, stay alert and stay vigilant.
by Felicien | Oct 26, 2017 | Education
It’s a familiar story and every business has been there. Deadlines are looming, customer requests are at an all-time high and to-do lists are longer than ever. Then, management remembers there’s a pile of overdue accounting paperwork that needs to be delegated and payroll deadlines are around the corner. Suddenly, core business tasks and customer needs are taking a back seat to administrative accounting responsibilities. For business owners in any industry, this situation is less than ideal and can result in serious hits to productivity and client satisfaction.
Deploying Tech Tools: Streamlining Business Operations with Accounting Software
Accounting software – when used right – can help businesses in any industry optimize operations. By deploying accounting software solutions business owners position themselves to be more readily available for clients, with less valuable time wasted on administrative bookkeeping duties.
Running a small business is a huge commitment, and the last thing a small or medium business (SMB) owner needs is to spend all their balancing books. Owner-operators and their teams should concentrate on nurturing and scaling their business, and the right accounting software solutions can free professionals up to do just that.
Here are the top four ways accounting software can streamline business operations and position companies for increased productivity and growth:
Cuts Time-Waste and Saves Capital
As stated accounting software can help streamline accounting process in all areas of business. First and foremost, accounting software can take away the constant pressure on owner-operators, allowing them to automate tedious accounting tasks like payroll and bookkeeping.
Additionally, when it comes to filing annual business tax returns, accounting software can remove another headache from the to-do list. Instead of wasting time sitting around with an expensive tax lawyer, most accounting software solutions can export all the information needed for annual tax returns with the simple click of a button. From there, business owners can submit their own returns with less hassle and time wasted hunting down relevant numbers or paperwork.
Improves Reporting Capabilities
Accounting software allows business owners to simply pull up reports when they need them. Some accounting software solutions also offer the ability to deliver real-time reports, such as profit and loss stats, cash flow statements, balance sheets and data on outstanding debts. Such reports are essential for staying on top of business finances, but they can also help automate administrative tasks, like generating letters to request and collect overdue payments.
By carefully researching the capabilities of various accounting software solutions, SMBs can determine which features offer the most value for their specific business needs. Using technology to drive automation and make reports work for you? That’s a no-brainer, plain and simple.
Provides Data Access from All Devices – Anywhere, Anytime
In our fast-paced business world, it’s become second nature to manage work on the move, and many SMB owners depend on mobile devices to keep their finger on the pulse when out of the office. However, without a consistent connection to the business data network, keeping tabs can seem impossible. With cloud-based accounting software, business owners can access business information from anywhere, as long as there’s an internet connection.
Anytime access also means that business owners can input new data on the go, submitting invoices and payments as they happen. This, in turn, frees up time to pursue new leads and other business opportunities instead of rushing back to the office to file invoices and balance the books.
Optimized Business Processes and Increased Functionality
There is a myriad of additional accounting software features that can make an SMB owner’s life easier – and more cost-effective. For example, an especially useful one is the ability to sync up with your business bank account to check that entries are correct and flag any discrepancies early. Some products also include specialized payroll software to manage employee wages and payments effortlessly.
If you’re weighing the pros and cons of investing in accounting software for your business, consider how much time you could save and how your bottom line could benefit as a result. Make sure you also take the time to browse all available accounting software packages to find the right one for your business needs.
Convinced Yet? Check Out These Money & Time-Saving Accounting Software Solutions.
Quickbooks Online – The Leader for SMBs in All Industries
Intuit QuickBooks Online offers a wide range of features for SMB’s across any and all industries. This includes freelancers, consultants, online merchants, store and restaurant owners, service providers and more. Whether a business is just starting out, expanding or has a long-established presence, QuickBooks Online is jam-packed with all the basic and advanced features to meet business accounting needs. To learn more about the leading accounting software for SMB’s, check out the full scope of features here.
Freshbooks – The Mobile Computing Powerhouse
Most accounting software products have a mobile app, but business owners be warned: not all mobile apps are created equal. When it comes to mobile accounting capacity, FreshBooks wins for its ease of use, excellent customer service, and for offering all of the features small businesses need to manage their finances on the go. For full details on how Freshbooks makes on-the-go business accounting a breeze, check out the details here.
Xero – The ‘Mac’ Daddy of Accounting Software
Mac users are often faced with challenging software that is stripped down or is less intuitive than their Windows counterpart. Xero’s cloud-based accounting software, which is available for both PC and Mac, is a full-featured solution that doesn’t compromise on features or ease of use just because a business runs on Mac.
It can help business owners save time and simplify accounting by automating tasks and integrating with over 500 apps. Xero also comes with 24/7 email and live chat support and outbound phone assistance at no extra cost. For full details on Xero, check out this full review.
Investing in the Right Accounting Software: Know Your Needs, Do Your Research and Assess the Options
While we’ve listed some of the top options to meet modern business needs, there truly are countless accounting software options available for businesses of all shapes and sizes. Technology continues to offer incredible opportunities to drive optimization and productivity for business owners and accounting software solutions are no exception.
Business owners who are looking to streamline their accounting processes in order to save time, money and resources should put in some research to determine the most valuable options to meet their needs. However, there’s no doubt that choosing between a large variety of technical software options can be overwhelming.
As with any other business-tech decision, professionals who are having trouble deciding between accounting software solutions can always reach out to local IT experts for consultation and guidance. Because managed IT providers recommend and implement software for clients daily, they can often provide an inside scoop on which options are best suited for any given business.
If your business is ready to reduce wasted time and increase operational efficiency, take the time to seek out consultation and research so the software investments you make pay off big time.
