Cloud applications (think SFDC, G-Suite, Office 365 and the like) are becoming prominent tools for enhancing employee productivity, especially in today’s era where remote working is becoming an important element of the “new normal”.
As we continue to use more cloud applications, also known as Software-as-a-Service (SaaS) applications, do you know how many of these type of applications you access daily? Or how many cloud applications your company runs? And how many passwords do you have for each of these applications? Can you remember all these passwords? Do you use the same password for all of them?
While more businesses rely on the cloud for SaaS, the risks are increasing as well. According to the 2021 Thales Data Threat Report, 24% of organisations surveyed are using more than 50 cloud applications. Can you imagine having to remember 50 usernames and passwords for all of those apps?
Half of these organisations have about 40% of sensitive data stored externally while another 48% of them say that nearly 60% of the sensitive data stored in the cloud is not encrypted. In fact, only 25% of the organisations know where their data is stored.
Now with remote working still being practised by most organisations, accelerated cloud adoption is needed as companies start to rely more on SaaS to implement flexible solutions. But the key question is, can the security also keep up? And why are all these SaaS accounts a security risk?
Having many accounts to remember and no consolidated way to manage passwords is likely to mean one of a few things. Users will either write down their passwords in a way that in itself is unsecure, or they will use very easy passwords that could be hacked or easily guessed. Some may even use the same password for multiple accounts.
For most of us, we tend to get our devices to save our passwords and use them for auto logins to different applications. While this process is faster, it doesn’t mean it is secure as all that is needed is for someone to hack your device to access all your important data and workloads. Also, some of our devices may be shared by others and can be easily misused.
Cyber attacks have increased; 45% of businesses saw an increase in the past twelve months. All it takes is for a cybercriminal to hack your device, either via an unsecure Wi-Fi network or a phishing email and they will gain access to all the different SaaS accounts you have. If you’re using the same password for multiple accounts, all your SaaS accounts can be compromised.
To find out more about how companies have been affected by security issues and the steps they can take to protect their applications and employees, click here to download the 2021 Thales Data Threat Report.