Tech leaders often underestimate the number of Software-as-a-Service (SaaS) applications in use across their organizations, according to industry observations. This underestimation can be as much as two to three times the actual size of their SaaS portfolios. The ease of purchasing SaaS applications, requiring only a company email and credit card, has contributed to this trend. While IT teams are no longer the sole gatekeepers for software entering organizations, they are still responsible for managing the associated risks.
The lack of visibility into an organization’s entire SaaS portfolio can expose it to potential risks. Unauthorized access, compromised passwords, or breaches can cause significant damage, as demonstrated by recent incidents. Identifying and understanding the risks associated with the SaaS environment is crucial in today’s landscape of cyber threats and data breaches.
Gartner’s 2022 SaaS Management Platform Market Guide emphasizes the importance of central visibility in managing SaaS life cycles. Organizations that fail to centrally manage their SaaS portfolios remain five times more susceptible to cyber incidents or data loss due to misconfiguration.
To mitigate risks and secure their SaaS portfolios, organizations should consider implementing the following steps:
1. Use technology to discover and monitor all applications in the environment, identifying security, compliance, and financial risks such as shadow IT. Establish processes for risk identification, monitoring, and mitigation.
2. Implement and enforce a governance policy for new SaaS purchases, allowing employees the freedom to choose tools within established parameters to avoid unnecessary risks or spending.
3. Involve IT in the review process when purchasing new SaaS applications. Conduct risk assessments with vendors to address potential risks before signing contracts or sharing sensitive information.
Having visibility into the SaaS estate not only lays the foundation for a more secure portfolio but also enables organizations to take proactive steps to strengthen their security posture.
In conclusion, tech leaders should assess the number of SaaS applications in use across their organizations to gain visibility and address potential risks. This understanding is crucial for maintaining a secure SaaS portfolio and protecting against cyber threats.
