There are several reasons why Rhode Island accounting firms should consider hiring a managed service provider (MSP):
- Cost-effective IT support: Hiring an MSP like OST can be more cost-effective than hiring in-house IT staff or paying for individual service calls. MSPs offer a range of IT services at a fixed monthly fee, which can help accounting firms budget more accurately and avoid unexpected IT expenses.
- Proactive maintenance: MSPs provide ongoing monitoring and maintenance to prevent issues from occurring, rather than simply reacting to problems as they arise. This proactive approach can help accounting firms avoid costly downtime and keep their IT systems running smoothly.
- Expertise: MSPs are experts in their field and can provide specialized IT support and expertise that may not be available in-house. This can be particularly valuable for small or medium-sized accounting firms that may not have the resources to hire a full-time IT team.
- Scalability: MSPs can help accounting firms and CPAs scale their IT systems as their needs change. For example, an MSP can help an accounting firm upgrade its systems or add new software as its business grows.
- Compliance: MSPs such as OST can help accounting firms ensure compliance with regulations, such as the Federal Trade Commission's (FTC) Safeguards Rule, which requires financial institutions and companies to protect customer information. MSPs can provide the necessary cybersecurity and physical safeguards to help accounting firms meet these requirements.
In addition to these physical and technical safeguards, MSPs can also help CPAs in Rhode Island implement administrative safeguards. This includes developing policies and procedures for handling customer information, as well as training employees on these policies. MSPs can also assist with conducting risk assessments to identify potential vulnerabilities and developing a plan to address them.
Overall, MSPs can play a crucial role in helping RI CPAs comply with the FTC Safeguards Rule. By providing a range of services, including cybersecurity, physical safeguards, and administrative safeguards, MSPs can help RI CPAs protect customer information and ensure compliance with this important legislation.
