More Than 60% of Successful Ransomware Attacks Sourced Through SaaS Applications According to New HYCU® Report

Boston, Massachusetts, Aug. 15, 2024 (GLOBE NEWSWIRE) -- HYCU, Inc., a leader for modern data protection for on-prem, cloud services, and SaaS, and one of the fastest growing companies in the industry, today released new worldwide research highlighting critical vulnerabilities to SaaS data. The report, The State of SaaS Resilience in 2024, explores the cyber resilience of SaaS usage based on an independent survey of 417 IT decision makers across Europe, the United Kingdom, the United States, Japan, and Singapore.

The report reveals a number of troubling issues surfacing with the rise of SaaS application use. The sheer volume of SaaS applications in use across enterprises along with third party risk dependence and lack of awareness in the Shared Responsibility Model were a few items the report highlights beyond the rise of ransomware. As the research indicates, IT decision makers still are not aware of the exact number of SaaS applications in use across their organization, with twelve being the number most respondents felt they had. With research indicating that the average midsize enterprise has well over 200 SaaS applications across their IT environment[1], these gaps are quickly becoming the most significant challenges facing modern enterprises today. 

Key report findings include the following:

• Business leaders often underestimate the scope of their SaaS data estate and were unaware of how many SaaS applications are in use across their enterprise.
• 41% of respondents rely on the SaaS vendor to protect and recover their data—yet cloud providers, SaaS vendors or ISVs generally place responsibility for data protection and recovery on the customer according to the ‘Shared Responsibility Model’.
• SaaS applications were the source of attack for 61% of ransomware breaches reported by survey respondents. 
• 71% of respondents believe that IT is responsible for the lion’s share of SaaS usage even though these technologies are often bought and used by departments or lines of business. 
• 90% of respondents said they are unable to recover encrypted SaaS data within an hour, risking costly business disruption.
• 43% of respondents said they lack staff with the required skills to protect SaaS application data.
• Three quarters of survey respondents said their businesses would be meaningfully impacted if their EntraID (formerly Azure Active Directory), SSO, and Identity Access Management (IAM) data were to suddenly become unavailable due to a cyberattack. 

The report also summarizes best practices to help organizations protect their SaaS data—and their businesses from the threat of cyberattacks. Insights to the report including how to take advantage of best practices for SaaS Data Protection will take place on August 22. Details are available at “The State of SaaS Resilience Broadcast.”

“The average business today relies on hundreds of SaaS applications for a variety of tasks, including business-critical workflows. Understanding how vulnerable SaaS data is to growing cyber threats is critical,” said Subbiah Sundaram SVP, Product, HYCU, Inc. “This new HYCU report illustrates that enterprises need to up their game in the area of SaaS data protection. As a leader in this space, HCYU stands ready to help organizations close the gaps that threaten their resilience, providing enterprise backup and recovery solutions specifically engineered for today’s SaaS-rich environments.”

A complimentary copy is available at The State of SaaS Resilience in 2024.

For more information on HYCU, visit:www.hycu.com, follow us on X (formerly Twitter), connect with us on LinkedIn, Facebook, Instagram, and YouTube. To learn more about HYCU R-Cloud, visit tryhycu.com.

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About HYCU
HYCU is the fastest-growing leader in the multi-cloud and SaaS data protection as a service industry. By bringing true SaaS-based data backup and recovery to on-premises, cloud-native and SaaS environments, the company provides unparalleled data protection, migration, disaster recovery, and ransomware protection to thousands of companies worldwide. As an award-winning and recognized visionary in the industry, HYCU solutions eliminate complexity, risk, and the high cost of legacy-based solutions, providing data protection simplicity to make the world safer. With an industry leading NPS score of 91, customers experience frictionless, cost-effective data protection, anywhere, everywhere. HYCU has raised $140M in VC funding to date and is based in Boston, Mass. Learn more at www.hycu.com.  

[1] Zylo, 2022 SaaS Management Index Report

Don Jennings
HYCU, Inc.
617-791-1710
don.jennings@hycu.com

source: HYCU, Inc.