Better Data Risk Mitigation For SaaS Providers

Better Data Risk Mitigation For SaaS Providers

Better Data Risk Mitigation for SaaS Providers

SaaS-Security

We live in a world that is rife with internal-controls breakdowns that result in security and data breaches, which can cause tremendous business and reputational damage for organizations.

The rise of cloud computing systems has now created an even greater need for organizations to develop the right controls to protect data that reside in the ‘cloud.’ Virtually every organization leverages Software-as-a-Service (SaaS) solutions – where data can be easily accessed through a web browser.

As most technology providers are migrating away from larger enterprise data systems to the cloud, it opens the doors to vulnerabilities. With SaaS providers hosting vital client data, they need to provide the right level of assurance that their clients’ sensitive data resides in a highly trusted environment.

Created by the American Institute of Certified Public Accountants (AICPA), Service Organization Control 2 (SOC 2) reporting allows any SaaS provider to mitigate risk when it comes to managing sensitive customer data in a virtualized environment.

Going through a SOC 2 security audit and receiving a favorable report allows SaaS providers to build-in a level of controls and trust in relationships with clients. However, the challenge with SOC 2 reporting is that many SaaS providers are unaware of this reporting and that not having an audit completed can cause significant business damage.

In addition, it is often the SaaS providers’ clients who inquire about SOC 2 reporting, and an “I don’t know” response does not provide clients with the critical assurance that they seek.

Fortunately, there are new tools that help SaaS providers determine their readiness to undergo a SOC 2 security audit and gain a ‘clean opinion.’

As more organizations are seeking support from SaaS providers, we will continue to see the true value of cloud computing emerge for any business sector. Providing the right level of assurance is critical for SaaS providers to further grow their businesses, and the little secret of undergoing a SOC 2 audit is now out of the bag.

Now, is the time to make sure that all of your clients’ data is residing in a truly trusted environment, and there are solutions for meeting this goal.

By Paul L. Shifrin, CPA, is a Director of Audit Services at SC&H Group

Paul directs SC&H’s SOC/SSAE 16 auditing practice, providing companies with audit services for their outsourcing of key components of their clients’ internal controls.

(Image Source: Shutterstock)

Follow Us!

CloudTweaks

Established in 2009, CloudTweaks.com is recognized as one of the leading authorities in cloud computing information. Most of the excellent CloudTweaks articles are provided by our own paid writers, with a small percentage provided by guest authors from around the globe, including CEOs, CIOs, Technology bloggers and Cloud enthusiasts. Our goal is to continue to build a growing community offering the best in-depth articles, interviews, event listings, whitepapers, infographics and much more...
Follow Us!

Sorry, comments are closed for this post.

Join Our Newsletter

Receive updates each week on news, tips, events, comics and much more...

Can I Contribute To CloudTweaks?

Yes, much of our focus in 2015 will be on working with other influencers in a collaborative manner. If you're a technology influencer looking to collaborate long term with CloudTweaks – a globally recognized leader in cloud computing information – drop us an email with “tech influencer” in the subject line.

Please review the guidelines before applying.

Contributors

Cloud Infographic – Wearable Tech And Preventative Healthcare

Cloud Infographic – Wearable Tech And Preventative Healthcare

Wearable Tech And Preventative Healthcare There are so many exciting new opportunities available to utilize wearable technology in the future.  Areas such as nanotechnology disease monitoring, crowdfunding to wearable accessories are some excellent examples of the potential. Estimates vary, but appear to suggest that the market will produce between $14-50 Billion over the next few years. Included below

Ten Tips For Successful Business Intelligence Implementation

Ten Tips For Successful Business Intelligence Implementation

Ten Tips for Successful Business Intelligence Implementation The cost of Business Intelligence (BI) software goes far beyond the purchase price. Time spent researching, implementing, and maintaining your BI investment can snowball quickly and mistakes are often expensive. Your time is valuable – save it by learning from other businesses’ experiences. We’ve compiled the top ten

Knots And Cloud Service Providers

Knots And Cloud Service Providers

How Do These Two Compare? In Boy Scouts, I learned how to tie knots. The quickest knot you can tie is the slipknot. It’s very effective for connecting one thing to another via the rope you have. It was used in setting up tents, mooring boats to docks temporarily and lifting your food up into

Aggregated News

Popular News Sources

Storage Considerations for SharePoint Backups

Storage Considerations for SharePoint Backups

Storage Considerations for SharePoint Backups Wednesday, October 29, 2014 @ 9:00 am/12:00pm ET. Backup and Restore of a SharePoint environment can be a complex endeavor as the product consists of multiple components running at various tiers, each with their own backup and restore requirements. In addition, SharePoint documents are stored as Binary Large Objects (BLOBs) in

OpenDNS Deployment Leads to Twenty-Fold Decrease in Malware Infections at Hamamatsu

OpenDNS Deployment Leads to Twenty-Fold Decrease in Malware Infections at Hamamatsu

Decreases in Malware Infections at Hamamatsu OpenDNS, a leading provider of cloud-delivered security, today announced that it has enabled Hamamatsu, a Japanese manufacturer of optical sensor technologies, to virtually eliminate malware infections across its U.S. Read the source article at Finance News About Latest Posts Follow Us!CloudTweaksEstablished in 2009, CloudTweaks.com is recognized as one of the

IBM and Microsoft – What Are They Doing With The Hybrid Cloud?

IBM and Microsoft – What Are They Doing With The Hybrid Cloud?

What Are They Doing With The Hybrid Cloud? “Microsoft is committed to helping enterprise customers realize the tremendous benefits of cloud computing across their own systems, partner clouds and Microsoft Azure,” said Scott Guthrie, executive vice president,Cloud and Enterprise, Microsoft. “With this … Read the source article at CNNMoney About Latest Posts Follow Us!CloudTweaksEstablished in 2009, CloudTweaks.com is recognized