In today’s digital era, data management and cybersecurity have become crucial for the construction industry. As construction companies depend more on technology, it can make them susceptible to malware or cyber threats. These threats can leak sensitive data, stop operations, and damage their reputation. However, there are data security best practices that companies can set in place to prevent this.

In this blog post, we will explore essential data management and cybersecurity best practices tailored for the construction sector. Additionally, we will discuss the secure features of today’s cloud-based construction software.

Data Management Best Practices  

Effective data management is vital for future-forward companies. Implement the following best practices to ensure you’re protecting sensitive company data:

Document management

Document management in construction involves organizing, storing, and protecting all data related to a construction project throughout its entire lifecycle. Proper data management also helps make sure that all confidential information is protected and that any changes to documents or information are tracked and easily accessible.

Access control measures

Assign unique user accounts with strong passwords and implement two-factor authentication (2FA) for enhanced security.

Regular software and hardware updates

Prevent potential vulnerabilities before they occur by staying up-to-date with the newest software patches and security updates for network devices.

Data backup and restoration

Regularly back up critical data to on-premises and off-site locations. You’ll also want to make sure you test the restoration process periodically to make certain of data recoverability.

Cybersecurity Best Practices

According to a survey conducted by Global Digital Trust Insights in 2021, almost one in six construction companies reported a ransomware attack within the year. To bolster cybersecurity and to mitigate risk, implement the following practices:

Employee cybersecurity training

Conduct regular training sessions to educate employees about cybersecurity best practices. Focus on strong password management and recognizing phishing attempts.

Network segmentation in construction

Use firewalls and intrusion detection systems (IDS) to control access and limit lateral movement during a potential breach.

Regular security audits and penetration testing

Conduct periodic security audits and penetration tests to identify vulnerabilities. These assessments help address weaknesses before they can be exploited.

Data retention and destruction policies

Establish clear policies on data retention and secure data disposal. Retain data only as long as necessary and securely dispose of it when no longer needed.

Construction Software and Cloud Security  

If you’re using cloud software, or considering making the switch, it’s only natural to wonder if you’re data is safe in the cloud. However, the data that you save in the cloud is most likely safer that the information you’ve stored on your computer’s hard drive. Cloud-based construction accounting software, such as Sage Intacct Construction, enhances data management and cybersecurity through features such as data encryption, access controls, and regular security audits.

A robust cloud system will have advanced encryption techniques to protect data during transmission, ensuring confidentiality and integrity. Sage Intacct also utilizes strong access controls, including user authentication to restrict access to sensitive financial and project data.

What’s more is that true cloud software has state-of-the-art security measures like firewalls, intrusion detection systems, and regular security audits to protect data stored in their infrastructure.

Prioritizing Data Security  

Data management and cybersecurity are crucial considerations for any company. By implementing the best practices discussed above, construction companies can protect their digital assets and mitigate data breaches.

Cloud-based construction accounting software, like Sage Intacct, further strengthens data security and ensures efficient management of financial information in the construction sector. Safeguarding digital assets is a continuous effort that requires vigilance and adaptation to evolving cyber threats.

Remember, data security is a shared responsibility that involves every individual within the organization. Encourage a culture of cybersecurity awareness among employees, promoting best practices and providing ongoing training to stay vigilant against potential threats.

Are you ready for a secure cloud accounting system built for the construction industry?