In today's SaaS market, security is of the utmost importance. Online commerce has undergone major changes over the past ten years, but many customers still don't trust or comprehend these changes. It's more difficult than ever to gain a cloud business' trust.
To mitigate distrust of vague subscription fees, SaaS companies need to focus on securing customer data and communicating that security to their users. It's not enough just to recognize that there is a problem - you need specific security measures that customers can understand.
We've put together some basic SaaS security information and best practices to help you get started protecting your subscription business. Let's dive in!
What is SaaS security?
SaaS security refers to data privacy and security of user data in subscription-based software.
SaaS companies access, process, and analyze large volumes of client data every day. As a founder of a SaaS, it will negatively affect your user experience if you don't safeguard this data.
To keep customer data safe, regulators have issued security guidelines that are mandatory for a SaaS company:
GDPR;
EU-US Privacy Shield Framework;
Swiss-US Privacy Shield Framework.
This ensures that any data your product has access to is kept secure in a way that customers can understand, whether you're dealing with internal or external issues.
4 SaaS security best practices to keep your product secure
Whether you're testing a new tool or implementing a new feature, it's necessary to consider how these changes will affect your SaaS security. Keep the following guidelines in mind to keep your data private and secure.
1. Encrypt your data
Encryption should be a top priority at every level of your technology stack. Proper encryption ensures that customer data is not exposed to the public in the event of a breach.
As high-profile leaks become more frequent, customers are increasingly concerned about their data privacy. Let customers know that your product always protects their sensitive payment information by communicating your encryption policies.
There are many common encryption protocols, all of which ensure that the data you rely on is not stored in plain text.
2. Make privacy a top priority
Most compliance protocols and regulatory requirements require privacy and security statements, but that's not all they're good for. By creating a trusted statement for your own product, you are educating both your team and your customers on how to handle valuable data.
Determine the precise details that should be mentioned in your privacy policy by working with your development and legal teams.
3. Backup user data in multiple locations
Many companies are not ready for a data breach, which makes effective customer data management very important. Backing up your data in multiple locations ensures that no system failure will compromise your security.
Many of the cloud platforms that SaaS companies rely on provide this functionality as part of their product. Still, you need to be careful with backups to avoid potentially catastrophic loss of customer data.
4. Consult with a cybersecurity firm
The best industry advice on how to secure your platform may be found in independent security companies. Their testing procedures guarantee the security of your infrastructure, network, and software at all times. Also, these outside providers can help you out in the event of a breach.
Understanding SaaS security keeps your customers safe
As you can see, the protection of the clients' data is one of the top priorities for a SaaS project.
By focusing on SaaS security, you build trust in your product and create an ecosystem that customers will enjoy using. As people become more aware of personal safety issues, safer products also become more attractive to buyers.
