Why Payroll Is The Next Company Security Battleground?

Payroll is one of the most appealing targets for cybercriminals, involving as it does the large transfer of money between institutions whilst being susceptible to hacking due to outdated technology and manual practices.

Whilst cloud-based solutions such as those offered by a new breed of start-ups such as Papayaglobal have helped to avoid data breaches by blocking the data gaps and loopholes offered to hackers, many companies are still updating their payroll tech stack. 

One recent example of an HR and payroll service provider who suffered a cyber attack just a couple of days ago is Kronos. The company went through a major ransomware attack forcing it to take its private cloud services down.

What are the challenges with payroll security?

Payroll has long been a vulnerable part of a company’s financial system, as historically whether run by finance or HR it has been a function that has lagged behind other departments with regards to tech uptake and has been slow in accepting changes.

Whilst running an accurate payroll has been a key concern (companies know they need to pay their employees the right amount of money), of lesser concern or priority has been data security.


Read More: https://www.hackread.com/why-payroll-next-company-security-battleground/