Is Your HCM Committed to Data Security?

Data breaches are all too common these days, but their prevalence doesn’t mean they’re any less destructive. In reality, data breaches are an enormous and increasingly expensive problem that wreaks a special kind of havoc on companies across industries. 

That’s why securing your technology to protect against data breaches has to be taken seriously — especially when it comes to ensuring critical employee information remains safe. And yet over half (53%) of organizations think their current processes and procedures with their HR technology expose them needlessly to risk. 

This concern is made all the more real by companies such as UKG, PrismHR, Apex Human Capital Management, and ART Payroll all recently experiencing data breaches or ransomware attacks that had severe repercussions for their clients. 

But disruptive events like these can be avoided if you choose a human capital management (HCM) system that prioritizes secure data management and provides layers of control over user authorization and access. Here are a few signs that your HCM provider is committed to data security and is able to keep potential threats at bay.

The system is sophisticated & accurate

A recent study found that 82% of data breaches involve some level of human error or misuse. And for every business operation that still relies on manual processes, the chance for human error increases, along with the security threats that stem from it. 

The right HCM system eliminates the need for manual effort by automating and integrating key administrative tasks around payroll, HR, and benefits. Teams are no longer dependent on outdated methods like updating spreadsheets or having to toggle between multiple software systems — both of which are prone to errors, discrepancies, and inconsistencies. Instead, teams can drastically improve their efficiency and accuracy with streamlined workflows and integrated data.

It provides a single system of record

Tracking down information from multiple places and transferring it into and out of different systems compromises security — especially when the information involved is the sensitive benefits, payroll, and employee data of the entire workforce. 

An HCM system that privileges access to sensitive data and centralizes it in a single system reduces the risk of someone accidentally sending sensitive information to the wrong person or place. When authorized staff can find the accurate, updated information they need in one secure database, they’re less likely to engage in something careless or risky that results in a data breach.

It works for all departments & leaders

When various departments are working within their own software systems and databases, pulling out and sharing relevant information with other teams is not only inefficient but opens the door to all the same security risks associated with transferring data between individuals and teams mentioned above.  

An HCM system that aligns and integrates core operations across the business makes it easy for all departments and leaders — from finance to HR — to access key information while eliminating the need to send it back and forth through less-secure means, like email or a flash drive. The system’s secure platform supports cross-department operations without compromising security. 

It reduces API & software connections

Every business application and Application Programming Interface (API) that each team needs to complete their day-to-day responsibilities introduces a network vulnerability and possible entry point for a data breach. In fact, insecure APIs are such a big problem that they account for $12-23 billion in losses from cybersecurity incidents in the U.S. alone.  

With the right HCM system, business operations are centralized and contained within a single system, requiring fewer API connections and data transfers that are sitting ducks for would-be hackers or employees who inadvertently make a mistake. Instead of relying on multiple external business applications, HR and other leaders can use the platform’s integrated APIs to manage time and attendance, recruiting, expenses, employee performance, and other key workflows — all in one place. 

Make HCM security a priority today

Maintaining secure technology is critical in today’s business landscape in which the constant threat of data breaches and cybercrime looms large. It’s particularly critical for HR, finance, and technology leaders who are uniquely attuned to compliance and security risks, and understand the imperative to keep sensitive employee information safe. 

Not every HCM system can keep up with security demands, though. Choosing a system with features like one-way password encryption, multi-factor authentication, physical and network perimeter security, monitoring of login and account usage, and frequent assessments and tests of security processes ensures that you’re using a system that meets the highest security standards.

Ready to learn how SyncHR’s HCM platform can meet your security standards? 

We are here to support your organization with efficient, accurate, and cost-effective workforce management solutions built with security and compliance top of mind. To learn more about SyncHR, click here.

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