How does Workday ensure data security for financial information?

How does Workday ensure data security for financial information?

• A. By training users on financial compliance regularly
• B. Through role-based access controls and encryption of sensitive data
• C. By limiting data retention periods to one year
• D. By automatically filing reports in a secure cloud

Answer: (B)

Workday ensures data security for financial information primarily through role-based access controls and encryption of sensitive data. Role-based access controls are crucial because they allow organizations to define who can access what information based on their job responsibilities. This means that only authorized users can view or manipulate sensitive financial data, reducing the risk of data breaches or unauthorized access. Encryption is also essential as it protects the data both at rest and in transit. When financial data is encrypted, even if someone gains unauthorized access to the system or the data, the information remains unreadable without the appropriate decryption keys. This dual approach—carefully controlling access and securing data through encryption—creates a robust framework for safeguarding financial information in Workday. Implementing these security measures helps organizations comply with various regulations and standards concerning data protection, ensuring that financial information remains confidential and secure. This method of protecting financial data is more comprehensive compared to other options, which do not provide the same level of direct control and security measures.

Workday ensures data security for financial information primarily through role-based access controls and encryption of sensitive data. Role-based access controls are crucial because they allow organizations to define who can access what information based on their job responsibilities. This means that only authorized users can view or manipulate sensitive financial data, reducing the risk of data breaches or unauthorized access.

Encryption is also essential as it protects the data both at rest and in transit. When financial data is encrypted, even if someone gains unauthorized access to the system or the data, the information remains unreadable without the appropriate decryption keys. This dual approach—carefully controlling access and securing data through encryption—creates a robust framework for safeguarding financial information in Workday.

Implementing these security measures helps organizations comply with various regulations and standards concerning data protection, ensuring that financial information remains confidential and secure. This method of protecting financial data is more comprehensive compared to other options, which do not provide the same level of direct control and security measures.