Cyber security has been a major focus in the small business community in recent years, so it’s imperative for GMS to ensure all clients and their employee’s information is protected.
Deputy Assistant Director of the FBI’s Cyber Division, Howard Marshall, addressed the growing cyber threats facing small businesses before the House Small Business Committee last year. “We continue to see an increase in the scale and scope of reporting on malicious cyber activity that can be measured by the amount of corporate data stolen or deleted, personally identifiable information compromised, or remediation costs incurred by US victims,” Marshall said.
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GMS CTO Christian Tracey stated, “We know how high the stakes are for our small and medium sized business owners when it comes to cybercrime in general.” In fact, a recent study in Small Business Trends showed that “43 percent of all cyber-attacks are aimed at small business, and 60 percent of companies go out of business within 6 months of a cyber-attack.”
GMS’ efforts to secure its client’s employees include updates aimed at protecting both client and employee data, the creation of custom algorithms to scan for payroll fraud, multi-factor authentication on all systems that require a login, and approaches to protect direct deposit transactions. The company plans to continue to invest in state-of-the-art technologies, as the concern of cyber-attacks will always be on small business owners’ minds.
GMS President Mike Kahoe understands how vital these measures are in protecting his client base. “GMS handles over a billion and half dollars in payroll in benefits and taxes,” Kahoe said. “We want to take every step to make sure our clients’ interests are secure and will continue to invest in technology and processes to that end.”
GMS works with small businesses across the country, allowing them to outsource their administrative functions in everything from payroll to workers’ compensation and employee benefits.
GMS provides comprehensive HR solutions to companies of all sizes, with 10 locations across the United States. These services include Payroll, Human Resources, Risk Management, and Benefits. GMS is partnered with over 1,300 businesses across the country, representing over 25,000 employees.
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