Most companies would agree that properly securing financial data in cloud applications is crucial.
By leveraging advanced security capabilities within Bill.com, organizations can significantly strengthen protections around sensitive information.
This article explores key techniques for implementing robust authentication, access controls, activity monitoring, and more in Bill.com - safeguarding critical data while enabling efficient financial operations.
Ensuring Robust Security in Bill.com Implementation
Bill.com offers robust security features to keep your financial data safe. This includes SOC 2 compliance, role-based access controls, and integration with security platforms like Divvy.
Understanding Bill.com SOC 2 Compliance for Data Security
Bill.com has achieved SOC 2 certification, meaning an independent auditor has verified that Bill.com meets strict data security standards. Specifically, SOC 2 applies to how Bill.com manages your financial data. By achieving SOC 2 compliance, Bill.com guarantees your data is stored and accessed securely in alignment with accounting industry best practices.
The Importance of Role-Based Access in Bill.com Sec
With Bill.com, you can configure user roles and permissions to limit access to sensitive data. For example, you may want accounting managers to view all invoices, while AP clerks only see invoices they are responsible for paying. Bill.com allows you to set these types of role-based access controls to match your business needs and prevent unauthorized access.
Divvy and BILL com Integration for Streamlined Financial Operations
By integrating Divvy automated budgeting and expense management tools with Bill.com's accounts payable software, you gain an extra layer of security monitoring, detection of anomalies, and alerts for potential threats. Together, Divvy and Bill.com provide end-to-end visibility and control over spending, invoices, payments, and more. This prevents issues from slipping through the cracks and strengthens the security of your financial operations.
Bill.com Implementation: Setting Up Advanced Authentication
Bill.com offers robust authentication methods to verify user identities and secure access to sensitive financial data. Implementing advanced authentication is crucial for organizations that use Bill.com to manage payments and accounting workflows.
Enabling Multi-Factor Authentication for Bill.com Sec
Multi-factor authentication (MFA) provides an extra layer of login security by requiring users to verify through two or more credentials. To enable MFA for Bill.com:
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Navigate to the Security Settings in your Bill.com account
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Select "Enable Multi-Factor Authentication"
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Choose your preferred MFA method - common options are an authenticator app, SMS text messages, or hardware keys
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Follow the on-screen setup instructions to configure MFA and link user accounts
With MFA enabled, users will need to enter both their password and a changing secondary code when logging into Bill.com.
Configuring Single Sign-On with SAML for Secure Access
SAML-based single sign-on allows users to access Bill.com using existing company credentials. To set up SSO:
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Obtain Bill.com's SAML metadata file containing endpoint URLs
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Configure your identity provider to connect with Bill.com's service using the SAML metadata
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Upload any required identity provider metadata files into Bill.com
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Test that users can now log into Bill.com by authenticating through your SSO solution
SSO removes the need to manually create Bill.com accounts for every employee. Users also benefit from having one less password to remember.
Leveraging Passwordless Authentication Techniques
Passwordless login options like FIDO's WebAuthn protocol let users authenticate through biometrics or hardware security keys instead of passwords.
To implement passwordless authentication for Bill.com:
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Evaluate compatible WebAuthn authenticators like Windows Hello, Apple TouchID, and YubiKeys
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Enable WebAuthn and FIDO2 services in your Bill.com account settings
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Deploy authenticators to users and guide them through self-enrollment
Eliminating passwords strengthens security posture as passwords are prone to phishing, cracking, and reuse across systems.
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Monitoring and Managing Bill.com Account Activity
This section covers tools and features in Bill.com to monitor detailed account activity for security and compliance auditing.
Activating Detailed Activity Logging for Bill.com Implementation
To enable detailed activity logging in Bill.com:
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Navigate to the "Account Settings" page in your Bill.com account
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Select the "Audit Log" tab
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Check the box next to "Capture detailed audit log"
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Click Save
This will turn on detailed logging of all transactions, payments, user logins, API calls, and other account activity.
Utilizing User Audit Reports for Security Oversight
Bill.com offers several built-in user audit reports to monitor account activity:
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Login Audit Report: View all successful and failed login attempts to your Bill.com account over custom time ranges. This allows oversight of unauthorized access attempts.
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User Activity Audit: Get visibility into all actions taken by users across your Bill.com account, including viewing/editing transactions, changing settings, API calls, etc. Filter to specific users or actions as needed.
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Change Audit: Receive alerts on any configuration changes made to settings, users, roles, etc. in your Bill.com account. Critical for security policy compliance.
Enable email alerts on these reports for proactive monitoring of user behavior.
Setting Up Automated Activity Alerts for Proactive Monitoring
Bill.com lets you configure real-time email alert rules triggered by specific account activity:
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Failed login attempts
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Changes to user roles
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Deletion of transactions
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Payments above a threshold
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And more
Set up customized alerts tailored to your security policies for rapid notification of suspicious access or transactions. Streamlines oversight.
Conclusion: Solidifying Your Bill.com Security Posture
Key Takeaways on Advanced Bill.com Security Features
Implementing robust security measures in Bill.com is critical for protecting sensitive financial data. Based on the solutions covered, key takeaways include:
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Enable two-factor authentication using Authy or Google Authenticator to add an extra layer of identity verification.
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Use role-based permissions to limit employee access to only necessary features.
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Configure IP address restrictions to control login locations.
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Integrate SOC 2-compliant partners like Divvy for secure integrations.
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Leverage audit logs to monitor user activity and changes.
Next Steps for Enhancing Bill.com Security
Businesses looking to upgrade Bill.com security should:
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Review which advanced security capabilities match current needs and priorities.
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Conduct a risk analysis to identify vulnerabilities.
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Create internal security policies and controls.
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Educate employees on security best practices.
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Continuously monitor security logs and measures.
As threats evolve, it's essential to keep refining defenses to protect sensitive data in Bill.com.
