Ensuring the security of customers’ confidential data has never been more important for organizations and IT leaders. The Covid-19 pandemic introduced a new era of digital collaboration technology and permanent remote and hybrid work structures, leaving organizations’ data vulnerable to potential breach and ransomware attack.
With more businesses adopting cloud-based collaboration tools to power remote and hybrid work, the need for software providers and cloud-service vendors that prioritize strong protection and provide peace of mind is critical. For example, Microsoft Teams saw monthly users surpass 270 million as of Q2 2022, increasing from 145 million monthly users as of second quarter 2021 .
Moving forward, you should be fully equipped to prove that your security and privacy practices as a cloud-service vendor are completely secure amid these rising cyber threats. One path to ensuring that your systems are safe from threat is through conducting independent security audits, which are the most verified way to prove that your practices are secure and ensure customers that their data is in good hands.
Verify Your Security Practices with External Review
For cloud service vendors, there are a variety of certifications available to choose from that demonstrate your organization’s practices are secure. For example, the System and Organization Controls (SOC) 2 Type II attestation is a rigorous audit that confirms your company’s practices meet the strict information security and privacy standards established by the American Institute of Certified Public Accountants (AICPA).
This extremely thorough review is conducted by an independent firm that fully examines security and privacy operations. Designed to evaluate areas including software, infrastructure, communications and monitoring, SOC 2 Type II attestation confirms that data security measures are at the highest level when dealing with highly sensitive customer information and organizational data. Offering the highest caliber of external validation based on its rigor and involvement, this audit is extremely effective in proving that your practices are air-tight and maintain integrity when handling sensitive information.
Gain a Leg Up on Your Competitors With Strong Security Certification
In today’s digital workplace, organizations providing Platform-as-a-Service, Software-as-a-Service, and cloud computing should prioritize SOC 2 attestation, as it is the most thorough and complete compliance verification to obtain, demonstrating to your customers and competitors that your data security is reliable and shielded from threat.
And SOC 2 is just one example - there are also ISO 27001 certifications, and national authorizations like FedRAMP in the United States and the Information Security Registered Assessors Program (IRAP) in Australia, among many others. As the cloud market grows rapidly, predicted to double in size by 2025, your organization will need these certifications to differentiate itself from other cloud-service and SaaS competitors.
Most importantly, customers trust you with managing their most sensitive data, and can gain peace of mind through doing business with vendors certified by a number of external parties. Many regulated customers even require verifications like SOC 2, ISO 27001 and the Health Insurance Portability and Accountability Act (HIPAA) to do business with a software vendor.
Compliance is a Tough Process, But the Benefits Outweigh the Costs
External, third-party validation is challenging to obtain and is not a simple process. These audits put your organization and products under meticulous evaluation to ensure that you can live up to claims of secure data practices. Reaching the finish line and completing these certifications is an involved journey, but there are many additional benefits such as bolstering brand reputation, increasing customer demands, and gaining an edge against the competition. These factors make the effort and expense worth it for your organization in the long run.
External audits also add peace of mind for your organization, assuring that you have sound security practices and dissolve any lingering doubt. Auditors can find holes or weak areas of your security, enabling you to fix the issue before it poses real threats. These external reviews offer unseen benefits internally to troubleshoot and improve security and privacy processes.
Practice What We Preach When It Comes to Security
In 2022 and beyond, your security strategy must practice what it preaches when it comes to securing data and demonstrate that your practices are safe from threats. In today’s digital-first work landscape, there is no room for doubt or insecurity when it comes to collaborating safely and working with critical data.
Looking to begin the external validation process? First, evaluate your current security and privacy practices. Next, develop a list of security protocols your company should be following. Once every item on the list is crossed off, you are ready for your audit.
About the Author:
Dana Louise Simberkoff is the Chief Risk, Privacy and Information Security Officer, AvePoint, Inc. She is responsible for executive level consulting, research and analytical support on current and upcoming industry trends, technology, standards, best practices, concepts and solutions for risk management and compliance. Dana is responsible for maintaining relationships with executive management and compliance officers, both internal and external to the corporation, providing guidance on product direction, technology enhancements, customer challenges and market opportunities. Dana holds a Bachelor of Arts degree from Dartmouth College and a Juris Doctorate from Suffolk University Law School.
