Written by Britiany Tompkins

Security and privacy are very important to family offices, and they must be a priority when choosing any financial partner or technology solution. With BPM’s internal methodologies and solutions like Sage Intacct, family members can expect the highest levels of security, compliance and traceability. This article outlines a few ways we keep your family office secure, while providing peace of mind for family members.

Is a cloud-based technology platform a secure choice for family offices?

This is the most common question we hear from our family office customers. The simple answer is yes. While each family will have unique needs for security and compliance, the cloud offers more robust security than most family offices could ever manage or maintain on their own.

There are also options for specific or complex data or compliance requirements that enable you to keep your most confidential data on-premises and other data and applications in the cloud. This is called a hybrid cloud environment. Your family office technology partner should thoroughly assess your needs to find the best cloud approach for you.

We highlight many ways BPM helps family offices in our Nine Ways BPM Can Take Your Family Office Further, Faster infographic, but here are a few of our priorities around mitigating risk and maximizing security:

1. Best-in-Class Sage Intacct Cloud Security

With Sage Intacct cloud financial management, you get built-in protection with an ongoing investment in keeping your system and data safe and reliable. From physical and network security to application, system, and data-level security— Sage Intacct strives to provide the highest level of protection at all times. Additionally, their data centers are monitored 24/7/365, and you can recover all your data and be fully operational within 24 hours, should a disruption or disaster occur.

2. Customizable Security and Privacy Controls

As a family office, you may have multiple individuals with access to your systems and data. It is imperative you have the flexibility to establish governance, controls and permissions at the individual level—whether they are a family member, staff member or external partner. With our cloud platform, we can tailor your security without sacrificing the beneficial easy access.

3. Virtual Bill Payments

When you write paper checks, you are often unknowingly putting your family office at risk for fraud, loss and errors. Not to mention how time consuming it is! BPM leverages several virtual bill payment applications such as Concur, and Nexonia to automate, streamline and track payments from any device. This is much faster and easier way to approve, control and monitor payments across your accounts. Watch our on-demand webinar to see how virtual bill payment works. We can also bring your payroll and HR management in-house, to give you a fully integrated platform to manage all your family office payments.

4. Paperless Document Management

Confidential paper documents are exposed when on desks, in files and during travel. With integrated electronic document management, we can reduce or eliminate this risk. Going paperless is more secure and automatically establishes an audit trail. Upload receipts and contracts, send files to your tax preparer in a click and get instant access to any document you need without chasing down a paper file.


Are you ready for a more safe and secure family office?

There is no one-size-fits-all approach to family office technology, so it is important to work with CPAs and financial specialists who understand the complexities you face. Contact our experienced team at BPM any time to discuss options for a cloud-based family office solution designed to fit your unique needs.

About BPM’s Sage Intacct Team

BPM’s Sage Intacct team works strategically with a wide range of clients to implement innovative technology within their existing accounting systems. Learn more about how we help provide maximum insights and enable real-time results on BPM’s Sage Intacct blog.

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