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!
FacebookTwitterLinkedInGoogle+Share

Sorry, comments are closed for this post.

Join Our Newsletter

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

Popular

Top Viral Impact

Using Big Data To Make Cities Smarter

Using Big Data To Make Cities Smarter

Using Big Data To Make Cities Smarter The city of the future is impeccably documented. Sensors are used to measure air quality, traffic patterns, and crowd movement. Emerging neighborhoods are quickly recognized, public safety threats are found via social networks, and emergencies are dealt with quicklier. Crowdsourcing reduces commuting times, provides people with better transportation

Cloud Infographic: The Education Of Tomorrow

Cloud Infographic: The Education Of Tomorrow

Cloud Infographic: The Education Of Tomorrow  Online Education is a very exciting topic for many as it opens up many new doors and opportunities. We’ve touched on areas such as Massive Open Online Sources (MOOC) which provides tremendous levels of cloud based interconnectivity. We’ve taken a look into higher education,  the increased demand for online courses as well as

Cloud Infographic – The Power Of Cloud Disaster Recovery

Cloud Infographic – The Power Of Cloud Disaster Recovery

Cloud Infographic – The Power Of Cloud Disaster Recovery Preventing a Cloud Disaster is one thing. Recovering from a disaster is a whole other area of concern. Today’s infographic provided by CloudVelox outlines some best practices and safeguards in order to help your business make more informed decisions. About Latest Posts Follow Us!CloudTweaksEstablished in 2009,

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.