In the world of accounting, people widely use Electronic Fund Transfer (EFT) to send payments to vendors. This method is fast, efficient, and often cost-effective. However, with the increase in digital threats, companies need to protect EFT information.
Companies often face unauthorized access to EFT information, which is a major problem. In some cases, this can result in significant financial losses. For instance, a company may receive a malicious email that appears to be from one of their vendors, stating that their bank account information has changed. Believing it to be authentic, the company changes the vendor’s EFT information and pays them. However, in reality, it is a fraudulent email, and the real vendor never received the payment. The company then has to bear the financial loss, which can be substantial.
Dynamics GP offers a solution to this problem by allowing companies to restrict access to EFT information. However, the problem with this approach is that many people need access to EFT information to perform their job duties. In Dynamics GP, if you can access the information, you can edit the information. This creates a challenge: how can companies provide access to EFT information while still ensuring its security and restricting editing access?
The solution is Elastic Windows. Elastic Windows is an add-on for Dynamics GP that allows companies to create non-editable windows that display EFT information. This window can be designed to include all the relevant information about the vendor, including EFT information, without allowing anyone to edit it. Only authorized personnel can make changes to the EFT information.
This way, even if a malicious email is received, no one can change the vendor’s EFT information without proper authorization. This can save a company from significant financial losses, protect their reputation, and prevent any legal action that may arise.
In conclusion, Elastic Windows can be an effective way to protect EFT information while still providing it to users who need it. It is a practical solution that allows companies to provide access to view EFT information while ensuring its security. By creating non-editable windows, Elastic Windows can protect a company’s financial information, preventing it from falling into the wrong hands.