Security News > 2024 > May > 97% of security leaders have increased SaaS security budgets

58% of the organizations were affected by a SaaS security incident in the last 18 months, according to Valence Security's 2024 State of SaaS Security Report.

Likely, as a result, 96% security leaders have made SaaS security a top priority and 97% have increased SaaS security budgets in 2024.

"There's no denying that the ease of SaaS subscriptions and SaaS integrations have helped organizations scale their businesses quickly and increase employee productivity," says Yoni Shohet, CEO at Valence Security.

"The goal of this report is to provide a unique and more comprehensive examination of SaaS security by combining survey findings from security leaders with analysis from our own tenants to expose the gaps between security investment and effectively addressing the complexities of SaaS environments."

Interestingly, when asked which tools their organizations are currently using to protect their SaaS applications, 52% of respondents said they are using a Cloud Access Security Broker while 48% said SaaS security posture management solutions.

"While a staggering 96% of security leaders prioritize SaaS security, Valence's report shows the complexity of SaaS security," says Chris Steffen, VP of Research - Information Security at EMA. "Security executives responded that their SaaS security challenges are hindering effective security and they're looking for innovative solutions that address these complexities and empower organizations to navigate an evolving SaaS security threat landscape."

News URL

https://www.helpnetsecurity.com/2024/05/03/saas-security-priority-for-organizations/