Security Threats are the #1 Concerns when it comes to SaaS & Cloud Environments

Security threats are the #1 concern when it comes to Saas & cloud environments what you don’t know can hurt you when dealing with security threats in the cloud. 

 Imagine this scenario – you have a major security threat to your cloud:

You’ve been hacked – Ransomware

NOW WHAT?

If you don’t, this could become an all too real scenario:

Core business functions cannot be conducted until the security threat is resolved.  And if
you aren’t prepared, it could be more than several weeks or more before you are
back online.

A major financial services company experienced this scenario and through this incident learned a very valuable lesson regarding security threats in the cloud. They then began rethinking their 3rd party managed service provider. Soon after, they decided to move from that provider to LTi’s Cloud Hosting, with peace of mind.

As the example above shows; not understanding the potential pitfalls of who is responsible when it comes to security threats when using a third-party services provider can bring some critical business interruptions.  

When it comes to SaaS & cloud hosting environments, SECURITY1 is the #1 concern.

In an article, “Ransomware Resilience Tops Findings in X-Force Threat Intelligence Index 2022”, February 23, 2022, by John Zorabedian and co-authored by Camille Singleton and Charles DeBeck; they discuss how many large companies and their IT departments are dealing with all the security threats they are exposed to and had this to say about security:

For a third year in a row, Ransomware was the top attack type globally in 2021, despite some successes last year by law enforcement to take down ransomware groups. 3

Even more than that (76%) of respondents said that they didn’t feel that their group had invested enough in their multi-cloud project, leaving them ill-prepared to defend against digital threats. 3

What you don’t know about Cloud Hosting CAN and WILL disrupt business. Can any company go three weeks offline? Not if they can help it!

So, who is responsible for managing these security threats including Ransomware?

1)     When using a Public Cloud hosting provider – they are only responsible for the storage space, or infrastructure, they do not take responsibility for any security threats – that is the business’ responsibility.

2)     When using a Managed Services Provider (MSP) – they ARE responsible for both, so they must solve for the cloud hosting and security threats.

3)     When in-house cloud hosting is used, if you aren’t prepared, as our customer found out the hard way, it could (and did) take 3 weeks to get the security threat resolved and get back online.

And a true concern, as noted by David Bisson, from the article “3 Cloud Security Trends to Watch in 2022”, published January 18, 2022, Security Intelligence.com:

This is particularly important because public cloud breaches have almost all been driven by enterprise customers’ insecure configurations. Gartner, in fact, predicts that, through 2025, 99 percent of cloud security failures will be the customer’s fault, not the security provider’s.2


And that brings us to LTi Cloud Hosting and the real question:

What does LTi do differently with regards to cloud hosting?

a)     Our Cloud Hosting environment is specifically tailored for use with our products, it is NOT a general purpose cloud.

b)     The speed we can and do manage any issues is considerably faster than most cloud hosting service providers, due to the fact we get the information and data quickly and with a special team in place that monitor our hosting platform.

c)      We control all aspects of the cloud hosting environment, we are not subject to a larger host that dictates anything to us.

d)     LTi Cloud Hosting allows us to take the burden off of a business IT department and focus on the business at hand, rather than managing the cloud hosting environment including any security threats.

When determining the best Cloud Hosting environment, there are three main areas that are at the core of the decision.

1-Security & Compliance

Continuous advancements ensuring confidentiality, integrity and availability of our customer platforms that are SSAE 18 SOC 1 & SOC 2 Certified Compliance, GDPR, CCPA compliant and Privacy Shield Certification. Multi-layered security program focused on protection of data and applications and complete customer segregation of networks, systems and data. Using strong identity and authentication controls, our team can host and manage all your SaaS needs.

2-Availability

99.5% service level…a must have

Disaster Recovery (DR); there are various tiers to provide minimal business disruption in the event of a catastrophic event. If you don’t have a large IT team or infrastructure, a SaaS solution is a great way to maintain the high availability without additional costs especially when it comes to DR.

3-Scalability & Performance

When scalability for growth is a concern, knowing your hosting provider can provide the peace-of-mind, and also has pay as you grow pricing, that simply means capacity planning is no longer a problem.

ABOUT LTi CLOUD HOSTING

LTi has 60% of the top 25 independents from the Monitor Bank 50. We have been doing this for 34 years; that matters. When committing to a large enterprise-wide platform change, including Cloud Hosting, with the serious time and budget commitments your company is making, having a partner that has the expertise in the equipment finance, leasing and loan industry is a MUST HAVE. And when it comes to dealing with security threats in the cloud, a full team to manage it, so your IT team can focus on business applications instead of security threats in the cloud.    

We have over 100 customers using our Cloud Hosting and have been for over 14 years

Our cloud hosting solution was created by our engineers for our system, it is NOT generic in any way.

Our team knows the system and can address any security threats or other issues immediately due to the continual monitoring. It becomes one less thing for your team to concern themselves with, since we built it, we handle it so you don’t have to.

That expertise puts you in a position of power to leverage each dollar spent to its fullest potential; no need for additional headcount with expertise in Cloud Hosting, we are your team.

Let’s have a discussion about your current 3rd party service provider and we can show you how we can and will make a difference regarding lowering costs and managing security threats.