SaaS Incidents: 79% CISOs Confess in New Report

Wajahat Raja

September 6, 2023 - TuxCare expert team

In the ever-changing world of cybersecurity, AppOmni’s new State of Software as a Service (SaaS) Security Posture Management Report has highlighted the growing importance of ensuring protection against SaaS Incidents.

This research is relevant to cybersecurity, IT, and business professionals who are increasingly recognizing the critical role of SaaS security in today’s cyber threat landscape. On first impression, respondents appear to be upbeat about their SaaS security initiatives regarding SaaS incidents.

Perception vs. Reality: Assessing SaaS Security Maturity

The survey, which drew SaaS incident responses from over 600 CISOs and SaaS users from diverse industries and firms with employee counts ranging from 500 to 2,500+, shows an intriguing contradiction. A sizable proportion, 79%, rate their organizations’ SaaS cybersecurity maturity as either mid-high (43%) or high (28%).

Similarly, there is a positive attitude towards the security of authorized SaaS applications within their organizational frameworks. A sizable 73% rate the security of these applications as mid-high (41%), high (32%), or very high (32%). 85% are confident in the data security of their company or customer data maintained within authorized SaaS apps.

CISOs and Data Breaches

Behind the confident façade, a grim truth emerges. Only 21% claim to have had no SaaS issues in the previous year. Despite having strong cybersecurity rules in place, 79% of respondents report facing SaaS cybersecurity incidents in their operations. According to 66% of respondents, even environments protected with stringent cybersecurity measures are not impenetrable.

The consequences of SaaS data breaches are severe, causing operational disruptions, brand damage, and financial losses. Recent IBM research confirms this, estimating that the average cost of a data breach in 2023 will be $4.45 million. The bulk of these situations are avoidable, such as excessive user rights, misconfigurations, and unintentional data exposure.

The Need for a Strategic Approach Utilizing SaaS Incidents

Addressing this cybersecurity incident in SaaS necessitates a deliberate approach to data protection for SaaS. Relying on manual and fragmented efforts to strengthen SaaS app security exposes organizations to cyber attacks. The most effective technique is the combination of SaaS Security Posture Management (SSPM) and a full SaaS cybersecurity program. This comprehensive solution not only decreases the attack surface but also prioritizes proactive SaaS security management.

Creating a durable SaaS cybersecurity program necessitates time and money. The advantages are numerous, including reduced risk of SaaS-related data breaches, scalability as organizational SaaS usage grows, automated compliance and risk assessments, and operational efficiencies. While there are immediate benefits from adoption, the full maturation of business SaaS cybersecurity programs often takes 12 to 18 months.

Conclusion

The State of SaaS Security Posture Management Report presents a detailed view of the digital ecosystem as it evolves. While there is a strong sense of trust in SaaS security capability, the prevalence of SaaS incidents highlights the importance of a proactive and integrated policy.

Recognizing the possible consequences of security challenges in SaaS, organizations are encouraged to invest in a complete SaaS Posture Management (SSPM) solutions. Only by combining these two approaches can perceived confidence be converted into true, strengthened SaaS cybersecurity confidence.

The sources for this piece include articles in Vumetric Cyber Portal and The Hacker News.

Summary