Tech (219)

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IT Professionals Tout Cloud Security

Cloud-based computing provides more security than their own company data centers do, according to 75 percent of information technology professionals responding to the recently released Oracle and KPMG Cloud Theft report. The survey also found businesses are using an almost bewildering number of products to provide security.


Defeating Zoom Threats

As businesses turn to Zoom for videoconferencing, a new generation of security threats has emerged. Among them is ZoomBombing in which intruders invade sessions and disrupt them.


Understanding Different Clouds

Cloud solutions have revolutionized the accounting industry in recent years. While the cloud may seem like a simple concept at first glance, few people fully understand the depth and range of the cloud options that are available today.


Six Software Companies Form Emburse

Emburse has been formed by six companies that market expense and AP software. The companies that have combined are Abacus, Captio, Certify, Chrome River, Nexonia and Tallie, according to an announcement this month.


Six Steps to Avoid Ransomware Attacks

 When a cyberattack strikes an accounting firm, it impacts the firm’s data and, more importantly, can expose critical client data. Keeping your business data and applications safe and secure from ransomware attacks while increasing your clients’ awareness of malicious software requires collaboration with your internal IT department and managed IT provider. 


Paychex: 27 Percent Businesses Lack Security Software

A study by Paychex has one 27 percent of business owners do not use any kind of data security software. The recently released results were published in a survey of 500 business owners with one to 500 employees who were queried about data security.


Sikich: Half Surveyed Report Cyberattacks

Half of 310 companies surveyed report their organization experienced some kind of data breachor cyberattack in the last year. The figures were released in Sikich’s 2019 Manufacturing and Distribution Survey, which said 11 percent of respondents had major intrusions. The survey was conducted online in April.


  Firms Fare Well in Microsoft Awards

Accounting firms did well when Microsoft named its Dynamics Inner Circle this month. Inner Circe includes the 50 top value added resellers in the world with three of the Big Four and four other accounting firms honored.


Blockchain, Regulators Coming

There has been a lot of attention paid to blockchain. But despite that, the distributed ledger system is simply another way of delivering information. It’s plumbing as far as regulators as concerned.

“Regulators don’t care what technology you are use,” says David Deputy, Vertex’s director of  strategic development and emerging markets, and president of the Accounting Blockchain Coalition. “I feel like Paul Revere. I keep saying the regulators are coming, the regulators are coming.”

Vertex itself has not yet brought a blockchain-based system to the transaction tax market, but that is coming. It is testing a system and hopes to have it on the market not too far in the future. That is simply bringing “high-quality tax compliance to blockchain through automation”, says Deputy.  To put it another way, doing what Vertex has been doing all along with a different generation of technologies.

Deputy’s work with Vertex and with the coalition dovetails on this. A major problem, he says, is that  “If you are exchanging goods and services it’s subject to transaction tax” and that is not always happening with companies which use blockchain. “There are companies selling goods and services today and ignoring this,” he continues.

Deputy notes some refer to accounting with blockchain present as triple-entry accounting. “You have witness that is watching our debits and credits,” he notes. The blockchain network validates and preserves the transaction.

But there is a case to be made that it goes beyond triple accounting—to the dimension added by governments with government increasingly trying to get close to the transaction, with the possibility of payment to governments coming straight off the invoice.

Split payments—with part of the money paid going to the vendor and an other to an account for taxes—has been around for a while.

“Italy has some split payments,” Deputy noted. But blockchain makes it easier to track payments and make sure governments get their cut with part going to the vendor and the rest going to an account for taxes.

Italy has had split payments since 2014.  It. has gone further. Under a system that went into effect this year, Italian businesses must convert invoices for private domestic transactions into a government-defined XML format and send them through the SdI exchange. 


Armanino Launches AI Lab

Mescall Tom new 1Armanino has launched the Armanino AI Lab this week. Designed for business executives who want to deploy AI technologies within their organization, the lab is designed to educate decision makers in a pragmatic approach to utilizing AI tools.


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