Reviewed by Jeff Harms
Director, Advisory Services at OCD tech
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Updated Oct, 3
Discover if Wave Accounting meets GDPR compliance standards to protect your data and ensure privacy in financial management.
Director, Advisory Services at OCD tech
Updated Oct, 3
Guide
Wave Accounting incorporates several security measures aimed at supporting GDPR requirements, though full compliance ultimately depends on how businesses configure and manage their data within the platform.
GDPR, or the General Data Protection Regulation, is a set of laws designed to protect personal data and ensure privacy for individuals in the European Union. Wave Accounting works to secure and protect data through encryption, controlled access, and regular security updates; however, it is important to note that achieving complete GDPR compliance is not solely the software provider’s responsibility—it also involves how users manage, store, and process their own client data. This means that while Wave Accounting has built-in features to help meet GDPR standards, each business must implement additional policies and user-specific configurations to ensure full compliance.
Data Protection Measures: Wave Accounting uses encryption and advanced access controls, which are key elements in defending against unauthorized data breaches, an essential GDPR requirement.
User Responsibility: Businesses using Wave Accounting should ensure that they have clear data management policies, regularly update consent forms, and maintain data minimization practices to align with GDPR’s core principles.
Ongoing Risk Assessments: As GDPR compliance is an ongoing process, regular reviews and risk assessments are crucial. Our team, along with trusted partners like OCD Tech, can help assess your current setup and recommend improvements.
Customized Implementation: Since every business processes data differently, it is important to tailor the security configurations and privacy settings of Wave Accounting to your specific needs. Engaging experts such as those at OCD Tech can be beneficial to prepare and maintain GDPR readiness.
What is...
Explore how Wave Accounting aligns with GDPR to ensure your financial data is managed securely and in compliance with privacy regulations.
Wave Accounting is a cloud-based financial management platform designed for small businesses that need efficient bookkeeping while ensuring robust data protection. It streamlines invoicing, expense tracking, and reporting, and its design incorporates security measures to support GDPR compliance. The platform is built with data privacy and secure storage features, which are critical for companies handling EU citizens' information.
The General Data Protection Regulation (GDPR) is a stringent EU data protection law designed to secure personal data and reinforce data privacy rights for individuals. For a platform like Wave Accounting, GDPR compliance means that all financial and user data is processed using robust security measures, transparent practices, and strict consent protocols.
Ensuring data protection by utilizing encryption, access controls, and regular audits.
Maintaining transparency by informing users how and why their data is processed.
Adhering to strict consent-based mechanisms that allow users control over their personal information.
These measures are critical for Wave Accounting, as they ensure that both data security and regulatory obligations under GDPR are met for all sensitive financial information.
For a detailed breakdown of the specific security configurations needed for compliance, our article provides a comprehensive walkthrough.
The first thing you should do is turn on multi-factor authentication. Our simple guide shows you how to do it in just a few minutes.
OCD Tech offers a comprehensive suite of cybersecurity and IT assurance services, including SOC 2/3 and SOC for Cybersecurity reporting, IT vulnerability and penetration testing, privileged access management, social engineering assessments, virtual CISO (vCISO) support, IT general controls audits, WISP development, and compliance assistance for frameworks like CMMC, DFARS, and FTC Safeguards.
OCD Tech specializes in serving highly regulated sectors such as financial services, government, higher education, auto dealerships, enterprise organizations, and not-for-profits throughout New England.
Typically, OCD Tech’s on-site work spans 1–2 days, depending on complexity and number of sites, followed by 1–2 weeks of analysis and reporting to deliver clear, actionable recommendations.
SOC 2 reporting demonstrates to clients and prospects that an organization follows best-in-class controls over security, availability, processing integrity, confidentiality, and privacy—boosting trust, meeting RFP/due diligence requirements, and helping secure contracts. OCD Tech helps organizations achieve and maintain this compliance.
Yes—OCD Tech provides guidance for compliance with DFARS (NIST 800‑171), CMMC (Levels 1–3), and FTC Safeguards, ensuring organizations meet specific government or industry-based cybersecurity mandates.
A virtual CISO delivers strategic, executive-level cybersecurity leadership as a service. OCD Tech’s vCISO service is ideal for organizations lacking a full-time CISO and helps build programs, define policy, oversee risk, and guide security maturity.
Absolutely. OCD Tech provides tailored internal IT Audit training and security awareness sessions, plus annual reviews of Written Information Security Programs (WISP), such as Massachusetts 201 CMR 17 and other state or industry-specific controls.
Audit. Security. Assurance.
IT Audit | Cybersecurity | IT Assurance | IT Security Consultants – OCD Tech is a technology consulting firm serving the IT security and consulting needs of businesses in Boston (MA), Braintree (MA) and across New England. We primarily serve Fortune 500 companies including auto dealers, financial institutions, higher education, government contractors, and not-for-profit organizations with SOC 2 reporting, CMMC readiness, IT Security Audits, Penetration Testing and Vulnerability Assessments. We also provide dark web monitoring, DFARS compliance, and IT general controls review.
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OCD Tech
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25 BHOP, Suite 407, Braintree MA, 02184
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https://ocd-tech.com
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