How important is security for SaaS companies?

SaaS solutions have the highest security features with 95% security failures due to human error

There are multiple ways where a business can improve and grow with the help of SaaS products. SaaS does not only make the service and products more accessible to the users but it is also a significant factor to generating more sales and improving customer satisfaction.

From Gartner:

Through 2025, 90% of the organizations that fail to control public cloud use will inappropriately share sensitive data.

Cloud strategies usually lag behind cloud use. This leaves most organizations with a large amount of unsanctioned, and even unrecognized, public cloud use, creating unnecessary risk exposure. CIOs must develop a comprehensive enterprise strategy before cloud is implemented or risk the aftermath of an uncontrolled public cloud.

Through 2024, the majority of enterprises will continue to struggle with appropriately measuring cloud security risks.

Questions around the security of public cloud services are valid, but overestimating cloud risks can result in missed opportunities. Yet, while enterprises tended to overestimate cloud risk in the past, there’s been a recent shift — many organizations are now underestimating cloud risks. This can prove just as detrimental, if not more so, than an overestimation of risk. A well-designed risk management strategy, aligned with the overarching cloud strategy, can help organizations determine where public cloud use makes sense and what actions can be taken to reduce risk exposure.

Through 2025, 99% of cloud security failures will be the customer’s fault.

CIOs can combat this by implementing and enforcing policies on cloud ownership, responsibility and risk acceptance. They should also be sure to follow a life cycle approach to cloud governance and put in place central management and monitoring plans to cover the inherent complexity of multicloud use.