To help you to identify the risks threatening your business, we’ve compiled a few common factors facing SaaS businesses today.
Regulatory Noncompliance
Being non-compliant can cost you much more than just maintaining or meeting industry standard requirements. While SaaS compliance is very complex, especially if you have international customers dealing with sensitive data, it should be at the top of your priority list.
The first consideration is ensuring you are familiar with albania telemarketing list your region's compliance requirements and how to implement them successfully. Cloud applications must comply with regulatory, privacy, and data protection requirements, such as GDPR and PIPL. Have you got the relevant security certification, such as ISO or ITIL? Are you fully prepared for external security audits?
Many organizations conduct vendor due diligence on your SaaS business before sharing sensitive information. These assessments determine the accuracy of your claims regarding security and regulatory vendor compliance and could potentially lead to problems if there is a gap. They also identify vendors’ security risks, so you want to avoid a situation where you could lose prospects over perceived high risks in your business.
For more information on the importance of compliance, you can read about the true cost of compliance.
SaaS users usually want to know where their data is stored and how long it will be retained. In addition, it’s important they feel they have some control over the location of the data, whether the data is stored with a secure cloud-service provider or in a private data center. Do you use data encryption at all stages of the data-handling process?
Users want to know that when you no longer need their sensitive information, you won’t retain it. You cannot run your business without having a clear cloud-data SaaS retention policy aligned with your region's compliance. Your data protection is only as strong as its weakest link, so you must identify and eliminate that weak link.
