Software updates and patches—those seemingly minor tasks always seem to pop up at the most inconvenient times. It’s tempting to click “remind me later” and move on with your day. Unfortunately, postponing them could have dire consequences. Keep reading to learn why.
Table of Contents
- Software Updates vs. Patches
- What happens if I skip a patch or postpone an update?
- Is it a good idea to enable automatic updates?
- The solution: Treat updates and fixes as essential tasks
- When you delay software updates, you invite unnecessary risk
Software Updates vs. Patches
While often used interchangeably, software patches and updates serve different purposes.
What is a software patch?
A patch is a targeted fix for a specific issue or vulnerability—like a quick repair for a security hole or bug. Patches are usually smaller in size, focused on addressing particular problems, and can be deployed quickly.
Types of software patches
Understanding the different types of patches can help you prioritize your update strategy:
- Bug fix patches correct problems in the software, help the software run more smoothly, and reduce the likelihood of crashes.
- Security patches address known security vulnerabilities, making your software more secure against attacks.
- Feature patches add new functionality to the software, improving its capabilities and usability.
What is a software update?
A software update is a more comprehensive upgrade that includes various improvements and changes.
Updates often bundle multiple patches together, along with new features, interface changes, and performance enhancements. They typically represent a more significant evolution of the software and may require more extensive testing before deployment.
Types of software or application updates
- Version upgrades: Major updates that significantly change the software with new interfaces and substantial feature sets, typically moving from one version number to the next.
- Service packs: Comprehensive packages bundle multiple patches, fixes, and enhancements into a single convenient installation.
- Point releases: Minor updates increment the version number slightly and include modest improvements without changing core functionality.
- Cumulative updates: Incorporate all previously released fixes into a single package, simplifying the installation of multiple patches at once.
- Hotfixes: Targeted updates address specific, critical issues that require immediate attention outside the regular update cycle.
What happens if I skip a patch or postpone an update?
Postponing software updates creates significant vulnerabilities that extend far beyond minor inconveniences, especially for accounting firms:
1. You risk client data exposure.
Delaying updates leaves security gaps that can expose your clients’ financial data, tax information, and personal details to unauthorized access.
2. You become vulnerable to zero-day attacks.
Cybercriminals target accounting firms specifically, exploiting known security flaws in outdated software before you have a chance to patch them.
3. You increase legal liability.
Unpatched vulnerabilities that lead to breaches can result in regulatory penalties, client lawsuits, reputation damage, loss of professional licenses, and ineligibility for cybersecurity insurance.
4. You face potential regulatory fines.
Non-compliance with IRS data security requirements and the FTC Safeguards Rule can result in fines of up to $100,000 per violation for firms and $10,000 per violation for individuals, including corporate officers.
5. You threaten business continuity.
Outdated systems create operational disruptions, may void insurance coverage, eliminate vendor support during critical issues, and increase system downtime.
6. You incur hidden financial costs.
Beyond breach expenses, outdated software reduces billable hours through poor performance, increases staff overtime when systems fail, requires emergency IT support, causes revenue loss during downtime, and may trigger non-compliance penalties.
Is it a good idea to enable automatic updates?
Yes, enabling automatic updates is highly recommended. Automatic updates ensure that your protection remains current against the latest threats without requiring manual intervention. This helps to catch and quarantine new malware before it can harm your computer systems or compromise client data.
For critical business systems, however, you may want to test updates in a controlled environment before deploying them across your entire organization. This balanced approach gives you the security benefits of timely updates while minimizing the risk of disruption.
The Solution: Treat Updates and Fixes as Essential Tasks
4-step update and patch management process
🤔Step 1: Understand what needs regular updates.
- Identify all your critical software systems. This includes accounting and financial platforms, client management software, document storage, operating systems, and security tools.
- Create an inventory of applications that require updates. Note which ones update automatically and which ones need manual intervention.
- Recognize that monthly updates are the standard for most business-critical applications. This includes updating desktop operating systems, malware and antivirus software, security tools, and standard business applications.
📆Step 2: Implement a scheduled update process.
- Schedule dedicated time for updates. Set aside specific times each month for routine updates, ideally during off-hours, to minimize disruption.
- Prioritize critical security patches. When zero-day vulnerabilities are discovered, these patches should be implemented immediately, regardless of how busy your firm is.
- Verify that updates complete successfully. Even automatic updates can fail, so develop a system to confirm all applications are current.
- Document your update procedures to ensure consistency, especially if multiple staff members share responsibilities for different systems.
🧑🎓Step 3: Educate your team.
- Create awareness about security risks. Help your staff understand why updates are critical, especially when handling sensitive client data. (Start by sharing this article!)
- Establish clear responsibilities for anyone who manages different aspects of your update process.
- Develop protocols for responding to update notifications so they aren’t ignored during busy periods.
💭Step 4: Consider an easier way.
- Evaluate cloud solutions for your firm. Cloud-based software provides automatic updates managed by security professionals, eliminating the burden from your team.
- Recognize the additional benefits beyond updates. 24/7 monitoring and threat response, compliance with industry standards, real-time collaboration capabilities, automatic data backup and disaster recovery, and scalable resources during peak business periods. Learn more about cloud technology.
- Calculate the true cost of maintaining on-premises solutions versus cloud alternatives. Considering not just licensing fees, but the time and risk associated with manual updates.
Common patch management mistakes to avoid
- Postponing updates during busy periods. This is actually when your systems are most vulnerable and when updates are most critical.
- Assuming automatic updates are enough. Verify you’re running the latest version number to ensure all patches have been properly applied.
- Treating all updates equally. Critical security patches require immediate attention, while feature enhancements can sometimes wait for scheduled maintenance windows.
- Overlooking the interconnected nature of your systems. Incompatibility between updated and outdated software can create cascading failures.
Delay Software Updates; Invite Unnecessary Risk
The question isn’t whether to prioritize updates—it’s how to implement them efficiently while maintaining your focus on client service.
By understanding the risks, creating structured processes, and considering cloud solutions, you can protect your firm from the devastating consequences of outdated software.
Don’t wait for a security breach to prioritize your software update strategy. Move to the cloud today and let security professionals handle your updates automatically while you focus on what you do best—serving your clients.
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