Compromised SaaS Supply Chain Apps: 97% of Organizations at Risk of Cyber Attacks

Do you know that reliance on SaaS is an effective way forward if efficiency, innovation, and growth are part of your business goals?

SaaS, according to Gartner , is “a software that’s owned, delivered, and managed remotely by one or more providers.”

It is a software platform that doesn't require upfront hardware costs, it is known for its payment flexibility methods.?

With its data routinely saved in the cloud, one might want to assume that it's a cyber attack-proof platform, however, that's not the case.?

"Bad actors" are also bringing in their A game as the digital space is expanding and evolving, this is to imply that much protection of data is needed as the expansion itself.

Bad actors are attackers in this context.

This article will explore what SaaS supply chain is, how organizations are at the risk of cyber attacks and ways of mitigating this.?

SaaS Supply Chain

SaaS Supply Chain in a business serves as a boost for efficiency, cost savings and improved visibility.??

It works with real-time data analytics and reporting capabilities to help businesses make informed decisions and also, to be able to respond to any changes that might be present in the digital space.??

However, SaaS Supply Chain also, isn't the one without risks attached to it as a lot of businesses are depending on it.?

One of the solutions that SaaS Supply Chain offers is inventory management amongst so many others.

With the supply chain, you can be rest assured as a business owner that your customers will be satisfied because it meets the requirements of each business effortlessly.

The Risks and its Mitigation

The shift to a more digital ecosystem has exposed a lot of organizations to risks. A report from Wing Security said, “data was obtained from 493 companies and the result of the analysis showed that 97% are exposed to cyber attacks”.

Supply chain applications are needed for effective usage of the SaaS Supply Chain and these apps are what the "bad actors" are making use of to exploit users.

They hack these apps and gain unauthorized access to customers’ information, making use of them in ways that are illegal.

The scariest part of this is that this threat/vulnerability that SaaS is exposed to will not get better, especially with the integration of AI.

Here are three likely causes of these attacks accordion to Wings Security;

• In the average organization, 41% of apps are utilized by a single user, exclusively.
• 1 out of 5 users utilize apps not used by anyone in their organization.
• 63% of single user apps were not accessed within a 3 months period.

One of the things these attackers target is the credentials and personal information as mentioned earlier.

Attackers are able to easily infiltrate the networks of companies to exploit when the organization in the picture entrusts sensitive data to SaaS vendors.?

To prevent this from happening, below are practical tips you can leverage on.

• There should be effective access control.
• Utilize MFA, Multi-Factor Authentication, a security measure in the SaaS domain and beyond that works with inputting multiple passwords and verification steps.
• Only make use of trusted applications with a secure third party.
• Have the basic knowledge of dealing with a data breach as soon as it occurs.
• Do not leave room for reckless data sharing within your organization.

Conclusion

SaaS, a cloud based management platform that helps with planning of projects, collaborations, increased productivity and coordination of work flow requires that one is at alert and there are proper security measures in shape to lessen the occurrence of cyber attacks that seem to be a trend now.

Reference: Wing Security 2024 State of SaaS Report

Thank you for reading!

For more details, visit Precious Crafts Ltd or www.pcwritings.com