Understanding the lifecycle of SaaS governance
The increasing adoption of cloud based software for businesses has undoubtably opened gates to issues like to data security, compliance and user behavior.
Managing a diverse portfolio of SaaS application thus requires the need for a structured and adaptive governance framework.
While, it is crucial to manage multiple applications together, it becomes equally important to govern their usage strategically. Plus, the dynamic nature of the SaaS ecosystem meant that governance frameworks had to be agile and adaptive, capable of evolving alongside the ever-changing landscape of technology.
Managing a diverse portfolio of SaaS application thus requires the need for a structured and adaptive governance framework.
While, it is crucial to manage multiple applications together, it becomes equally important to govern their usage strategically. Plus, the dynamic nature of the SaaS ecosystem meant that governance frameworks had to be agile and adaptive, capable of evolving alongside the ever-changing landscape of technology.
Although ransomware has been attacking computers, servers, and mobile devices for some time now, there has been a significant uptick in SaaS ransomware attacks. A study conducted by Odaseva showed that 51% of ransomware attacks targeted SaaS data let alone in 2022. While in between March and May of 2023, SaaS attacks increased drastically by over 300%.
If you’ve reached reading till this point, we suggest you kep reading as further we’ll explore what SaaS ransomware is, the risks it poses, and most importantly, how to defend against it.
If you’ve reached reading till this point, we suggest you kep reading as further we’ll explore what SaaS ransomware is, the risks it poses, and most importantly, how to defend against it.
Let’s understand “What is ransomware” first
Ransomware is a type of malware that encrypts a victim’s files and demands payment in exchange for the decryption key. In other words, ransomware effectively holds a victim’s data for ransom. This can be devastating for businesses, as it can result in significant financial loss, reputational damage, and even legal liability.
Why is SaaS at risk of Ransomware?
Imagine working on an important project on your cloud-based collaboration platform, only to find out that you can’t access your account anymore. Now you’re trying to login multiple times, but you cannot, you’re locked out. All while this is happening, you receive a message from an unknown sender, demanding a ransom in exchange for the decryption key to your valuable data. Now that’s a trap. The Ransomware trap!
You have likely become a victim of SaaS ransomware, also known as cloud ransomware.
These sneaky cybercriminals exploit vulnerabilities in cloud-based systems like Google Workspace and Microsoft 365 and then launch their malicious code, which encrypts your precious data. It’s like they’ve put a lock on your cloud account, and the only way to get it back is by paying up in cryptocurrencies.
It’s like being held hostage by a cybercriminal – they have your data, and you’re at their mercy.
You have likely become a victim of SaaS ransomware, also known as cloud ransomware.
These sneaky cybercriminals exploit vulnerabilities in cloud-based systems like Google Workspace and Microsoft 365 and then launch their malicious code, which encrypts your precious data. It’s like they’ve put a lock on your cloud account, and the only way to get it back is by paying up in cryptocurrencies.
It’s like being held hostage by a cybercriminal – they have your data, and you’re at their mercy.
SaaS applications are particularly vulnerable to ransomware attacks because they are often accessed through the internet. This means that attackers can exploit vulnerabilities in the application or the user’s system to gain access and deploy the ransomware.
Additionally, SaaS applications are often used to store critical business data, such as customer information, financial records, and intellectual property. Losing access to this data can be catastrophic for a business.
How to protect your SaaS data against Ransomware?
Conventional, stationary governance policies are evolving into dynamic, adaptable models. These models have the capability to dynamically adjust based on contextual elements, user actions, and evolving threat landscapes, thereby ensuring a governance framework that is highly responsive and robust.
Proactive User-Accessibility Control
Intelligent User Access mangement will help businesses with easy onbaording of user into diffrent SaaS application from a single interface and platform will intelligently grant minimum access based on the user profile. It will reduce the risk of over privilage granting and increase efficency of user management across various SaaS.
Compliance Automation
With the increasing complexity of regulatory requirements, the automation of compliance processes is gaining traction. SaaS governance frameworks incorporate automated tools to ensure continuous compliance with evolving data protection and privacy regulations.
Implementing the best practices for SaaS Governance with RedOrange.ai
RedOrange is an advanced SaaS security and Expense Management platform that goes beyond the traditional engagement model of SaaS Management tool. It empowers SaaS businesses to govern user access, optimize SaaS costs, and protect their data from loss, ransomware, risky apps, misconfigurations, and non-compliance.
RedOrange assist in overseeing your entire SaaS stack using one single platform, giving you complete visibility into your SaaS ecosystem. Our platform allows you to automate user onboarding and offboarding, enable policy-based access, and give granular access based on user profiles.
RedOrange.ai also monitors and optimizes your SaaS billing and gets you real-time recommendations to optimize SaaS spending based on usage.
Additionally, our AI-powered solution helps you stay compliant with various regulatory frameworks by automating evidence collection, policy creation, penetration testing, and more. With RedOrange.ai, you can have peace of mind knowing that your SaaS environment is secure, optimized, and compliant.
RedOrange assist in overseeing your entire SaaS stack using one single platform, giving you complete visibility into your SaaS ecosystem. Our platform allows you to automate user onboarding and offboarding, enable policy-based access, and give granular access based on user profiles.
RedOrange.ai also monitors and optimizes your SaaS billing and gets you real-time recommendations to optimize SaaS spending based on usage.
Additionally, our AI-powered solution helps you stay compliant with various regulatory frameworks by automating evidence collection, policy creation, penetration testing, and more. With RedOrange.ai, you can have peace of mind knowing that your SaaS environment is secure, optimized, and compliant.
