SaaS (Software as a Service) companies must constantly scale their cybersecurity standards to complement growth. Because SaaS companies are at risk of cloud leaks, account takeovers, malware, ransomware, data breaches, and other cybercrimes, it’s crucial to implement cybersecurity best practices right from the start.
So, we’ve rounded up a few key cybersecurity tips for Saas startups to consider in 2023.
Complete The CAIQ
The Consensus Assessments Initiative Questionnaire is a survey that helps businesses evaluate cloud service security. This questionnaire consists primarily of “yes” and “no” questions, so it won’t take long to complete. Moreover, the CAIQ is in line with industry best practices.
Completing the CAIQ survey will also help establish trust and transparency with clients while showing that security is definitely not an afterthought for the company. What’s more, this valuable survey is also free.
It’s vital to maintain tight control over all accounts, from end users and internal teams to machine identities. Saas companies typically store accounts for customers and have provisions for these accounts as well. As a result, passwords must be complex enough to prevent account hacking.
Implement Multi-Factor Authentication
It’s a requirement on everyone’s email accounts for a reason; multi-factor authentication processes largely reduce the risks of security breaches. But don’t stop at securing email accounts this way.
Make multi-factor authentication a standard across the company, even for customer accounts and internal channels.
Overlooking endpoints as risk factors for the company is a common mistake; end users’ laptops or PCs have access to business channels, which identifies endpoints as a potential risk; a compromised end-user device can lead to catastrophe for any SaaS startup.
Look for a tool or an internal process to secure endpoints. Additionally, remember to update the operating system and the browser routinely.
Data beyond passwords must also be encrypted. However, you’ll find that most database systems will do this for you. As a result, you’ll only need to confirm with the team that encryption settings are enabled and encryption keys are stored securely.
Create Secure Connections That Consider Remote Work
Remote environments encourage cost reduction for businesses and employees alike. But because remote work is an increasingly popular work model, it’s essential for startups to ensure secure connections do consider remote environments.
With this, leverage security groups and firewalls, implement unique login details and establish secure connections for all remote users and other IT resources. It’s crucial not to share passphrases and codes.
Conduct Routine Security Training
It’s also crucial to ensure the whole team receives routine security training. Quarterly security training is highly recommended for SaaS companies. Even so, security training is even more important for remote employees due to less supervision. So, establishing a strong culture for heightened cybersecurity is worthwhile for decentralized teams.
Cybersecurity best practices can effectively prevent cyber-attacks from hindering business processes and crippling the bottom line. Improving cybersecurity measures is also a relatively straightforward journey, even for startups and smaller SaaS businesses.