How to Mitigate SaaS-Related Data Governance Risks in Building Supplies eCommerce

When it comes to building supplies eCommerce, SaaS solutions offer a wealth of benefits, but they also come with their own set of risks. One of the most common issues is data security. According to a report by Cybersecurity Ventures, cybercrime damages will cost the world $6 trillion annually by 2021. This is a stark reminder of the importance of robust data security measures.

Another significant risk is data privacy. With the General Data Protection Regulation (GDPR) in full swing, businesses must ensure they handle customer data responsibly. Failure to comply can result in hefty fines. For instance, British Airways was fined £20 million for a data breach that affected over 400,000 customers.

Vendor lock-in is another concern. Once you commit to a SaaS provider, switching to another can be costly and time-consuming. This can limit your flexibility and control over your data. Here at iWeb, we understand these challenges and offer solutions to mitigate these risks effectively.

Implementing robust data security measures

Data security is paramount in the eCommerce world. One effective measure is encryption. Encrypting data both in transit and at rest ensures that even if data is intercepted, it remains unreadable. According to a study by IBM, the average cost of a data breach is $3.86 million, but encryption can reduce this cost significantly.

Another crucial step is multi-factor authentication (MFA). MFA adds an extra layer of security by requiring users to provide two or more verification factors. This makes it harder for cybercriminals to gain access to your systems. The team at iWeb can help you implement these security measures seamlessly.

Regular security audits are also essential. These audits help identify vulnerabilities and ensure that your security measures are up to date. Our expert solution architects at iWeb can conduct thorough security audits to keep your data safe.

Ensuring data privacy and compliance

Data privacy is not just about protecting data; it’s also about respecting customer rights. Compliance with regulations like GDPR is crucial. This involves obtaining explicit consent from customers before collecting their data and providing them with the right to access, correct, or delete their data.

Data minimisation is another key principle. Only collect data that is necessary for your operations. This reduces the risk of data breaches and ensures compliance with data protection laws. iWeb’s 30 years of e-commerce experience can guide you in implementing these practices effectively.

Regular training for your staff is also important. Ensure that everyone in your organisation understands the importance of data privacy and knows how to handle data responsibly. Our talented team at iWeb can provide comprehensive training to your staff.

Managing data ownership and access

Data ownership is a critical aspect of data governance. Clearly define who owns the data and who has access to it. This helps prevent unauthorised access and ensures accountability. According to a survey by Varonis, 53% of companies found over 1,000 sensitive files open to every employee.

Role-based access control (RBAC) is an effective way to manage data access. RBAC restricts access based on the user’s role within the organisation. This ensures that employees only have access to the data they need to perform their job. iWeb’s e-commerce expertise can help you implement RBAC effectively.

Regularly review and update access controls. As employees change roles or leave the company, their access rights should be adjusted accordingly. Our talented in-house team at iWeb can assist you in maintaining up-to-date access controls.

Choosing the right SaaS provider

Selecting the right SaaS provider is crucial for effective data governance. Look for providers with a strong track record in data security and compliance. Check their certifications and compliance with industry standards like ISO 27001 and GDPR.

Evaluate their data recovery and business continuity plans. Ensure they have robust measures in place to recover your data in case of a disaster. According to a study by the Ponemon Institute, the average cost of IT downtime is $5,600 per minute. iWeb – an enterprise e-commerce agency, can help you assess potential SaaS providers to ensure they meet your requirements.

Consider the provider’s data location and hosting options. Ensure that your data is stored in a secure and compliant environment. Our expert solution architects at iWeb can guide you in making the right choice.

Implementing effective data management strategies

Effective data management is key to mitigating SaaS-related risks. Start by creating a data governance framework. This framework should outline your data management policies, procedures, and responsibilities. According to Gartner, by 2022, 90% of corporate strategies will explicitly mention information as a critical asset.

Data classification is another important strategy. Classify your data based on its sensitivity and importance. This helps you apply appropriate security measures and ensures compliance with data protection laws. iWeb’s track record in e-commerce can help you develop a robust data classification system.

Regularly monitor and audit your data management practices. This helps identify any gaps or weaknesses and ensures continuous improvement. Our talented UK team at iWeb can assist you in conducting regular audits.

Ensuring business continuity and data recovery

Business continuity and data recovery are essential for mitigating SaaS-related risks. Develop a comprehensive business continuity plan (BCP) that outlines how your business will continue to operate in case of a disruption. According to the Business Continuity Institute, 73% of businesses experienced at least one significant disruption in the past five years.

Implement regular data backups. Ensure that your data is backed up regularly and stored in a secure location. This helps you recover your data quickly in case of a disaster. iWeb’s e-commerce expertise can help you set up an effective backup strategy.

Test your BCP and data recovery plans regularly. Conducting regular tests helps ensure that your plans are effective and that your team knows what to do in case of a disruption. Our expert solution architects at iWeb can assist you in testing and refining your plans.

Mitigating vendor lock-in risks

Vendor lock-in can limit your flexibility and control over your data. To mitigate this risk, choose SaaS providers that offer data portability. This allows you to easily transfer your data to another provider if needed. According to a survey by Flexera, 35% of organisations cited vendor lock-in as a top concern when using SaaS solutions.

Negotiate favourable contract terms. Ensure that your contract includes provisions for data portability and exit strategies. This helps protect your interests and ensures a smooth transition if you decide to switch providers. iWeb – Experts in Commerce, can help you negotiate favourable contract terms.

Consider hybrid or multi-cloud strategies. Using multiple SaaS providers or a combination of on-premise and cloud solutions can reduce your reliance on a single provider and mitigate vendor lock-in risks. Our talented team at iWeb can guide you in implementing these strategies.

Contact iWeb for expert guidance

Mitigating SaaS-related data governance risks in building supplies eCommerce requires a comprehensive approach. From implementing robust data security measures to ensuring business continuity and data recovery, there are many factors to consider. Our expertise and experience in e-commerce spans three decades, and we are here to help you navigate these challenges.

Reach out to iWeb today