As an accountant or tax preparation professional, you’re well aware of tax season’s challenges—long hours, tight deadlines, and the pressure to ensure absolute accuracy. However, another challenge looms but often goes unnoticed until it’s too late: the state of your IT infrastructure. In the digital age, your computer network is the backbone of your operations, and any disruption can have serious consequences. This is why now is the ideal time to take a holistic view of your network and prepare it for the rigours of the upcoming tax season.
In this blog post, we’ll explore why accounting firms and tax preparation companies must start thinking about their IT infrastructure months before tax season begins. We’ll also discuss how Reis Informatica, a leader in managed IT in Kitchener, can help you comprehensively review your operational and cybersecurity aspects, identifying gaps and aligning your network with industry best practices.
The Importance of a Robust IT Infrastructure
Accounting firms are entrusted with highly sensitive information, from Social Insurance Numbers to detailed financial records. This makes them prime targets for cyberattacks. A recent study by Blackberry in 2024, revealed that financial services is the most targeted industry representing 50% of all cyberattacks, and accounting firms are no exception. Despite this, many firms still operate with outdated IT systems, leaving them vulnerable to data breaches, ransomware attacks, and other cybersecurity threats.
Moreover, the demands of tax season put additional strain on your IT infrastructure. Increased data processing, higher volumes of client communication, and the need for flawless document management can expose weaknesses in your network that might not be apparent during the rest of the year. A network failure or a cybersecurity incident during tax season could result in lost revenue, damage to your reputation, and even legal consequences.
Why Now Is the Time to Act
You might think it’s still early, but preparing your IT infrastructure for tax season is a time-consuming process. It’s not just about installing a few updates or running a quick scan; it requires a thorough examination of your entire network, including hardware, software, data storage, and cybersecurity measures.
Starting now allows you to address issues well before the tax season rush. It also allows you to plan and budget for any necessary upgrades or changes without the pressure of immediate deadlines. By taking action now, you can ensure that your firm is well-prepared and can operate efficiently during tax season.
Conducting a Holistic IT Review
A holistic IT review involves examining every aspect of your IT infrastructure, from the physical components like servers and workstations to the software applications and cloud services you use. This review should also include assessing your data backup procedures, disaster recovery plans, and, most importantly, your cybersecurity measures.
Here’s a breakdown of the key areas that should be reviewed:
1. Hardware and Software Assessment
- Age and Performance: Evaluate the age and performance of your hardware. Are your servers and workstations capable of handling the increased demands of tax season? If not, it might be time to consider upgrades.
- Software Updates: Ensure that all your software applications, including your tax preparation software, are current. Outdated software can be a security risk and may not be compatible with newer systems.
- Licensing and Compliance: Check that all your software is properly licensed and compliant with industry regulations. Unlicensed software can lead to legal issues and may not be covered by support services.
2. Data Management
- Data Storage: Review your data storage solutions. Are they secure, and do they have enough capacity for the influx of data during tax season?
- Backup Procedures: Ensure that your data backup procedures are robust and that backups are performed regularly. Consider using offsite or cloud-based backups for added security.
- Data Retention Policies: Verify that your data retention policies comply with legal requirements and that you have a process in place for securely disposing of outdated data.
3. Cybersecurity Measures
- Network Security: Review your network security protocols. Are your firewalls, antivirus software, and intrusion detection systems up to date?
- Access Controls: Assess your access controls. Who has access to sensitive data, and is that access appropriately restricted? Consider implementing multi-factor authentication (MFA) for added security.
- Incident Response Plan: Do you have an incident response plan in place in case of a cybersecurity breach? Ensure that your team is trained and knows how to respond to different types of security incidents.
4. Compliance and Regulations
- GDPR, PIPEDA, and Other Regulations: Depending on where your clients are located, you may need to comply with regulations like GDPR (General Data Protection Regulation) or PIPEDA (Personal Information Protection and Electronic Documents Act). Ensure that your IT infrastructure is compliant with these regulations.
- Industry Standards: Review your adherence to industry standards like ISO 27001 for information security management. Compliance with these standards protects your data and enhances your reputation with clients.
The Role of Managed IT Services
Managing IT infrastructure in-house can be challenging for many accounting firms, especially with the added complexities of cybersecurity and compliance. This is where managed IT services come into play. A managed IT provider like Reis Informatica can take the burden off your shoulders by providing expert support and proactive management of your IT systems.
Proactive Maintenance
Managed IT services offer proactive maintenance, ensuring your systems are regularly updated and monitored. This reduces the risk of unexpected downtime during critical periods like tax season.
24/7 Support
With offices in Lisbon, Malaysia, and Canada, Reis Informatica offers around-the-clock support, so you’re never left in the lurch if something goes wrong. Their global presence means you can count on continuous service, no matter the time of day which is especially important during tax season
Cybersecurity Expertise
Reis Informatica specializes in cybersecurity, offering services like Security Operations Center (SOC) as a service, SIEM (Security Information and Event Management), and vulnerability assessments. Their expertise ensures that your network is protected against the latest threats.
Customized Solutions
Every accounting firm is different, and Reis Informatica understands that. They offer customized solutions tailored to your specific needs, whether you’re a small practice or a large firm with multiple locations. Their holistic approach ensures that every aspect of your IT infrastructure is optimized for performance and security.
The Value of a Gap Analysis and Our Customer Success Team
One of the most valuable services Reis Informatica offers is a gap analysis performed by our Customer Success Team. Our Virtual Chief Information Officer and Technical Alignment Manager will thoroughly examine your current IT infrastructure and comparing it to industry best practices and standards. The goal is to identify any gaps or weaknesses that could put your firm at risk.
The gap analysis covers operational and cybersecurity aspects, providing you with a comprehensive report outlining improvement areas. Reis Informatica then works with you to develop a plan to address these gaps, ensuring your IT systems are fully aligned with best practices before tax season begins.
Taking the Next Step
Tax season might still be months away, but now is the time to start preparing your IT infrastructure. By taking a proactive approach, you can ensure that your network is ready to handle the demands of tax season, protect sensitive client information, and comply with industry regulations.
Reis Informatica is here to help. With its expertise in managed IT in Kitchener, comprehensive cybersecurity services, and commitment to excellence, it is the ideal partner to guide your firm through the process of preparing your IT infrastructure for the upcoming tax season.
Don’t wait until it’s too late—contact Reis Informatica today to schedule your freeholistic IT assessment and gap analysis. Let us help you safeguard your business and ensure a smooth, successful tax season.
