Notably, many industries, such as healthcare and finance, even have strict regulatory requirements for data security. MFA requires users to provide several forms of authentication, typically combining something they know (password), something they have (a physical token or a mobile device), or something they are (biometric data). It provides an additional layer of protection beyond the traditional username and password combination, making unauthorized access to sensitive data and services much more difficult.
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Given the number of SaaS apps organizations use and the fact that it will keep growing, multi-factor authentication (MFA) is crucial for maintaining a higher level of security of Software as a Service (SaaS) platforms.
In this article, we’ll outline SaaS security points of focus that prevail in 2023. Security trends in the area are defined by emerging concerns, threats, and risks such as cyber attacks, data breaches, malware permeation, misconfiguration, etc. By prioritizing user data security through robust encryption, secure access controls, and compliance with industry standards like GDPR, iGMS ensures the utmost protection. IGMS, a short-term rental software company, stands out as a prime example of a secure SaaS experience. Organizations are now more concerned about protecting their sensitive data and ensuring the privacy and integrity of their SaaS applications.
However, with the growing reliance on SaaS solutions and rapid evolution in this sector, the importance of SaaS security has also risen significantly. And in 2025, this figure is expected to hit 85%. Under the BetterCloud report, as of 2023, SaaS applications account for over 70% of total software in bigger companies. Software-as-a-Service (SaaS) has become an increasingly prevalent delivery model for software applications, offering a range of benefits such as scalability, cost-effectiveness, and ease of deployment.
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