Enhancing Financial Document Security in SharePoint: Role-Based Access

Managing sensitive financial documents can be challenging, especially when working in a collaborative environment like SharePoint. Many organizations face security risks and permission management issues that could lead to unauthorized access of confidential data. At one of our recent in-house technical meetings, our team analyzed the current limitations of SharePoint’s configuration and proposed a solution to improve document security while accommodating various user roles.

The Challenge

A current client's setup for storing financial documents in SharePoint relies on a single document library. This approach makes all files accessible to every user with access to the library. While this setup simplifies sharing and collaboration, it raises serious security concerns.

Sensitive financial data, such as budgets or payroll information, should only be accessible to specific roles like finance administrators. However, in the client's current system, even users who don’t require access to this information could potentially view it. Additionally, managing item-level security has proven risky, as site administrators can override these settings, creating vulnerabilities.

The Discussion

To tackle this issue, we propose creating separate document libraries for different user roles. For example, sensitive financial documents would reside in a designated “Finance Admins” library that only authorized users could access. This ensures privacy and eliminates the possibility of unintentional exposure.

For other user roles, such as asset management or traveling conference leads, separate document libraries could be set up with permissions tailored to their specific needs. This approach allows for a more structured and secure document management experience while aligning with organizational roles and responsibilities. It also allows for simple site security administration that can more easily be done by business users.

Key Benefits

1. Enhanced Security
   By separating sensitive documents into role-specific libraries, the risks of unauthorized access are minimized. Only users with explicit permissions would be able to view or edit these files.

2. Streamlined Permissions Management
   Managing site-level permissions is more efficient compared to item-level security. It reduces the complexity of maintaining individual file permissions and eliminates errors that could lead to overexposure.

3. Role-Based Access Control
   Role-specific libraries ensure that users only see files relevant to their duties. This reduces clutter and potential mistakes caused by accessing irrelevant or sensitive information.

4. Peace of Mind for Admins
   Admins can feel confident knowing that security measures are in place to prevent accidental access to critical data. This reduces the need for constant monitoring or corrective actions.

Implementation Steps

To implement this solution, the following steps would be taken:

1. Create separate SharePoint document libraries for different roles, such as “Finance Admins” and “General Users.”
2. Assign permissions at the site or library level, ensuring only designated users have access.
3. Link these libraries to relevant workflows using tools like Power Automate, enabling seamless integration with existing processes.
4. Conduct a thorough review of admin-level permissions, restricting access to sensitive data and improving oversight.

Read about our SharePoint solution, the Aerie Accelerated Intranet

Overcoming Challenges

One challenge with this method is the manually intensive setup process. Each library or site must be configured for specific roles, and workflows need to be updated accordingly. However, these efforts are worth the long-term benefits of enhanced security and functionality. To address these challenges, automation tools like Power Automate can reduce the need for repetitive tasks and streamline the setup.

A Safer Future for Document Management

By re-evaluating how sensitive information is stored and accessed, organizations can improve their overall security posture. The proposed solution not only protects financial data but also provides a scalable framework for managing documents for additional roles and responsibilities.

If your organization relies on SharePoint and faces similar challenges, now is the time to assess your document management strategy. Ensure your data is safe, accessible only by the right people, and organized in a way that empowers your team.

Call-to-Action:
Take the first step toward better document security. Consider reviewing your current setup and explore the benefits of site-level permissions and role-specific libraries. Your sensitive information deserves the best protection, and implementing these changes can enhance your workflow while safeguarding your data.

Need help setting up your security? We're here for you. Schedule time with one of our experts to discuss your business needs today!