4 Best Practices for Monitoring and Managing SaaS Security Risks

The Software-as-a-Service (SaaS) phenomenon has grown tremendously over the past few years. It is a technology that has completely revolutionized the way organizations operate. It has made it possible for teams to collaborate from anywhere in the world and access any information from anywhere. The flip side of all this ease is that the more applications an organization uses, the higher the risk of a security breach. Many organizations have been struggling to deal with the security threats that come with the use of SaaS applications. 

As a result of the ease with which users can sign up for any application using a credit card and a corporate email address, the security situation is getting out of hand. “Shadow IT” is a phenomenon that is giving hackers an open invitation to breach security. The only way an organization can protect itself from all the security threats that come with the use of SaaS applications is by moving from a reactive security posture to a proactive one. Here are four important practices that an organization must follow to monitor and manage the security threats that come with the use of SaaS applications! 

1. Implementing Continuous Automated Monitoring

The traditional way of monitoring security logs once a week or doing a quarterly security audit is no longer sufficient in the modern world. The world of SaaS applications is a dynamic one. Every day, users are added, permissions are modified, and files are shared externally on a daily, if not hourly, basis. There is no way a security officer can monitor all the activity that is going on within the applications used by the organization.

The only way an organization can close the gap is by implementing continuous automated monitoring on all the applications used within the organization. This way, the security officer will be able to detect anomalies in the applications used within the organization. This could be a login from an unknown location, a mass download of sensitive files from the application, or a configuration that exposes sensitive information on the public web.

2. Enforce Least Privilege Access

The new security perimeter is identity. In a SaaS-centric environment, a compromised identity is all an attacker needs to gain access. One of the most effective means of limiting the potential damage of a potential security breach is by strictly enforcing the Principle of Least Privilege (PoLP). This means users are granted the least amount of access required for their job functions.

Identity Access Management (IAM) is an ongoing process. Users tend to accumulate more and more access as they transition from one role to another or as they work on multiple projects within the company, which is referred to as “privilege creep.” Good identity management best practices include regular access reviews and removing a user account the moment the employee leaves the company.

3. Regular Third-Party Risk Assessments

When you implement a SaaS product, you are essentially adding another entity to your network. You are putting trust in the third-party vendor with respect to your data. What you need to do is ensure their security posture is aligned with yours. It is not sufficient to vet the vendor during the initial RFP process. A vendor’s security posture can change over time, and new vulnerabilities can develop within their supply chain.

It is important to regularly perform third-party risk assessment and compliance audits. This requires checking the security certifications of the vendor, such as SOC 2 or ISO 27001, and their data handling procedures. You must be aware of the location of your data, who has access to it, and their disaster recovery procedures as well. By considering vendors as an extension of your own risk management strategy, you can avoid any supply chain attack impacting your business.

4. Take Advantage of Posture Management Tools

Security settings differ greatly from one SaaS tool to another. The way you secure the permission settings in Salesforce is totally different from the way you secure your Slack workspace or Google Drive. It is not practical to expect your security team to be experts in the complex settings of all the tools in your stack.

At this point, third-party tools, specifically SaaS security posture management tools, become extremely important. These tools give you a complete overview of your entire SaaS stack. They automatically compare your settings against best practices. Instead of manually checking settings across dozens of tools, an SSPM tool can help your security team identify misconfigurations in one place. They will know what changes to make. Centralization is the key to dealing with the complexities of the SaaS environment and the key to maintaining the same security standards across the board.

Creating a Resilient Future

The flexibility that SaaS offers is vital for the modern business. However, it demands discipline in the way security is managed. By automating your security, controlling identities, scrutinizing vendors, and utilizing specialized tools, you can regain control of your digital environment. Having a proactive security posture does more than just prevent data breaches. It builds a resilient future!