Intuit has made a name for itself in financial management by spearheading digital efforts to help accountants and others manage finances digitally, making finances faster, more efficient, and more secure. They are already well known in financial circles for software such as Turbo Tax, Credit Karma, and QuickBooks, which have served individuals and companies alike. Now, according to Yahoo Finance, Intuit has a suite of innovations to make digital financial management even more convenient, all of which point to an increased need for cybersecurity.
A recent survey indicates that a lot of accounting is still carried out through a combination of software and pen-and-paper activities. Commerce Accounting is a new function from Intuit that seamlessly integrates more possible commerce channels into a digital stream to reduce the manual work required.
For example, now sales from retailers such as Amazon, eBay, and Shopify can track and add transactions and other interactions directly into QuickBooks so that users no longer have to enter these transactions into their business financial records manually.
More Cybersecurity Integrations For Mid-Market
Intuit is introducing new features and functionality for mid-market software to help larger companies get more efficient financial accounting and even help to improve sales. QuickBooks, for example, is introducing “Spreadsheet Sync,” which works with industry standards like Microsoft Excel to integrate two-way syncing and help streamline the accounting and reporting of activities.
Other innovations include “Custom Report Builder with Chart View,” which can help to track key performance indicators in sales activity, letting businesses get a more accurate picture of what sales are doing and which factors matter to them.
QuickBooks Online Expansion
QuickBooks itself is increasing its range of services, including software suites for human resource management and centralized online resources for accounting, and even training portals to help businesses and entrepreneurs at different stages of development to incubate important skills and business practices that can be crucial to long-term success.
However, with this emphasis on more convenient online resources, this also means a need for companies to have better cybersecurity. While easy to implement, traditional password systems are increasingly vulnerable to being compromised. Single-factor authentication using a password system introduces a risk of password theft. Many users choose easy-to-guess passwords to make things easier for themselves without realizing this also makes it easy for criminals to guess or “brute force” these passwords. Increased cybersecurity, such as multifactor authentication or passwordless systems like passkeys, can circumvent this.
If you’re interested in passkeys and increased cybersecurity, learn more here about Nok Nok’s multifactor authentication technology and passwordless security measures.