Security threats on the web have been on a constant rise over the years. With the onset of the coronavirus pandemic, the situation has only worsened. As per a report published in the Infosecurity magazine, cyber-attacks have increased by 37% in the past 4 months. Further, 99.7% of businesses have been at least one hidden vulnerability system, a survey suggests. Over the course of tons of hacking experiences and news pieces, SaaS companies realized, much to their nuisance, what a little vulnerability on their system can do to their businesses. Fortunately, this can be reversed with a thorough SaaS security audit.
A SaaS security audit is a systematic evaluation of the security of your software with an intention to discover and patch all existing vulnerabilities, flaws and bugs in the application.
Let’s learn the top 6 reasons why you should conduct a SaaS security audit on your application.
Importance of SaaS Security Audit
SaaS (Software as a service) is a cloud-based technique to provide different software for different services to users. Saas has one of the largest cloud markets in the world which is growing rapidly. It uses the internet for delivering applications managed by a third-party vendor. With the rapid rise in the growth of SaaS businesses, it is becoming crucial to implement necessary security practices. Performing a security audit is one of them. If you wish to perform a security audit, follow this link for comprehensive details: How to conduct a SaaS security audit?
Some of the most compelling reasons why you should conduct a SaaS Security Audit include:
1. To identify asset vulnerabilities and record them
The first thing a security audit will do is identify the threats to the application. It will identify the risks that can potentially harm your website. Identification of such threats demands knowledge of the related laws and regulations. It will help you understand the technical and business aspects of your application and the risk each of them represents. This will help you in the prior assessment and treatment of such threats.
2. To identify both external and internal threats and record them
A security audit also helps in the proper identification of possible external and internal threats. There are a variety of cyber risks that might pose a serious threat to your organization. An audit will not only help in finding those threats but it will also help you keep them in check before any serious damage occurs.
3. To attain stability
For the reliability of SaaS software, stability and security are the two most important pillars. A regular SaaS security audit will help in both. By identifying the vulnerabilities and potential threats to a website, an audit can help in increasing the security of your application or organization. Security builds the trust of a customer.
4. To keep in compliance with the Industry Regulations
Different companies have different regulatory compliance to bear with. It gets easier for a hacker to manipulate the potential gap in your security infrastructure due to lack of following industry regulations. This is where a security audit might come in handy. It will force your employers to comply with Industry Regulations.
5. To earn a security seal or badge
One of the most important outcomes of performing a SaaS Security Audit is that it will help you acquire a security seal from a trusted source. This security seal will help improve the reputation of your website. Since a number of customers take this seal into account as an important attribute before visiting a website.
6. To reach your website traffic goals
This is an additional benefit that you will get if you do a regular security check of your website. More and more customers will visit your website and your online business will thrive.
Some other importance of SaaS security audit are as follows:
- It will keep your sensitive data well-protected.
- An audit will make sure that your industry is updated with latest security practices.
- It will ensure that your staff is following the necessary security protocols.
- It will create cyber security awareness.
- Take precautionary measures and procedures for threats.
- Help uncover hidden risks.
- It will implement new security policies to deal with the found vulnerabilities.
- Reduce the impact of cyber breach.
With this we conclude our discussion on the importance of SaaS Security Audit. Let us know your thoughts and queries in the comment box below.