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3 security risks your SaaS customers are worried about

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When a customer signs up for your SaaS platform services, they are also signing over their data and putting their trust in you to look after it. In the age of hackers and cybercriminals, there is a lot out there that can go wrong in terms of security.

We’ve picked out three security risks that your SaaS customers are worried about, and what you can do to minimise these risks, keeping your customer’s data – and trust – safe and sound.

3 security risks your saas customers are worried about

Who else has access to their data?

GDPR and keeping data safe is no joke. When you are taking your customer’s data, you need to be security-conscious. Ensure that everyone within your business knows how to handle data and keep it safe. This needs to become a focus within your business culture. Could you offer training to your team on the risks and threats of potential data loss? This is a good way to enforce and remind individuals of their role in business security.

And what about suppliers? External agencies? Your hosting or software provider? Will anyone else be handling your customer’s data, alongside yours? If so, try to take the time to understand the procedures and protocols that these companies have in place to protect it. All providers are required to include this information in the conditions of their Terms of Agreement, so it’s worth familiarising yourself with that. Make sure that you are always communicating to your customers what you and any third-party companies are doing to keep their data safe. Any company can fall victim to cybercriminals – big or small.

Are customers at risk of identity theft?

It’s commonplace for SaaS providers to require payment for their services via credit or debit cards online. It’s easy, it’s quick and it’s simple. But it does open up concerns for your customers about potential risks of identity theft. If your website isn’t secure, then your customers might be at risk of having their card details stolen.

If you can signpost that your website is secure, then customers will know that they are using their card details safely. They should be able to see a padlock symbol in the address bar next to your website address, your website address should start with https:// (the S stands for secure), and your customers should be able to access your valid certificate by clicking the aforementioned padlock symbol.

There are also a few security protocols that you can put in place to prevent problems, such as a firewall or an identity management solution.

How stable is your company?

It goes without saying that all customers want to rest assured that they are putting their money into a SaaS company that is secure and stable. There are so many SaaS software companies out there on the market today, and they are continuing to grow in popularity. This is great for users, as there are a wealth of options out there. But can all SaaS providers keep up with the growing market? If they can’t they might end up shutting down as they can no longer compete.

You might be, and might look to your customers, like a solid, stable company. The numbers add up and business is good and steadily growing. But what about the health of your software provider? To truly make your business safe and secure, make sure that you factor SaaS escrow into your disaster plan. It protects your software in the event of your software or hosting provider going out of business, meaning that you can continue providing your services without a hitch. Your customers won’t have to worry about your business coming into hard times by no fault of your own. If you’d like to know more about SaaS escrow, give us a call today on 0800 456 1115.

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