Protecting Your Data: The Growing Threat of Cyberattacks on SaaS Applications
In today’s digital age, Software-as-a-Service (SaaS) applications have become an integral part of business operations. However, a recent study by Onymos and Enterprise Strategy Group reveals that these applications remain a prime target for cyberthreats, with 78% of U.S. technology leaders expressing concerns about data security.
As more companies embrace SaaS and cloud solutions to streamline their processes, they inadvertently expose themselves to potential risks. When organizations rely on third-party SaaS providers for application development, they must grant access to sensitive data, making them vulnerable to cyber attacks and data breaches.
Shiva Nathan, CEO of Onymos, warns that the increasing number of SaaS applications in use today creates numerous attack surfaces for malicious actors. This trend is especially concerning for industries like healthcare, which have transitioned to virtual care models during the pandemic, relying heavily on third-party vendors.
The report identifies several sectors, including government, logistics, manufacturing, and retail, that are significantly reliant on SaaS applications. Gartner predicts that by 2025, 45% of organizations worldwide will have experienced attacks on their software supply chains, highlighting the urgent need for improved cybersecurity measures.
The Importance of Data Retention
According to the survey conducted with 300 IT and security leaders, 91% of respondents emphasized the critical role of data retention in custom-built internal applications. This emphasis underscores the ongoing struggle organizations face in balancing data ownership with the speed of production.
IT Leaders’ Priorities
Security and data privacy are top priorities for technology leaders, with 72% prioritizing security and 65% focusing on data privacy. The report reveals that ensuring data privacy, building secure applications, and maintaining data ownership are key concerns for organizations in their software development projects.
SaaS Apps Require Greater Security Posture
Given the heightened concerns about data security, organizations must reevaluate their approach to SaaS and cloud solutions. The report recommends adopting a “no-data” architecture that prioritizes data privacy and security, allowing enterprises to retain full control over their data.
Additionally, organizations should conduct regular third-party security audits and penetration tests to identify and mitigate potential vulnerabilities in their SaaS applications. By implementing these measures, businesses can ensure the integrity and security of their data in an increasingly digital world.