SaaS report from Onymos reveals what tech leaders are worried about

Onymos, developer of solutions transforming Software-as-a-Service (SaaS) for software and application development, today announced the findings of its SaaS Disruption Report: Security & Data. It reveals that over three-quarters (78%) of technology leaders are concerned about security threats in Software-as-a-Service (SaaS) for application and software development.

SaaS Disruption Report from Onymos reveals that 78% of tech leaders are worried about SaaS security threats

The report presents the security insights obtained from an online survey of 300 application and software development, IT, and security leaders conducted by Onymos and Enterprise Strategy Group. The survey aimed to gain a deeper understanding of the processes and priorities in application and software development among midmarket and enterprise organizations in the United States, including the use of SaaS solutions as well as security and data privacy.

The SaaS Disruption Report: Security & Data findings emphasize that enterprises prioritize data privacy and security. However, their reliance on SaaS solutions continues to put them at risk, posing significant challenges related to data privacy and security. In fact, Gartner has predicted that 45% of organizations globally will have experienced attacks on their software supply chains by 2025. The report reinforces this projection, with nearly half (45%) of tech leaders reporting that they have experienced a cybersecurity incident through a third-party SaaS solution in the past year.

The dark side of SaaS - key findings from the report include:

• Security (72%) and data privacy (65%) are the most critical priorities in the app development process
• Nearly all (91%) tech leaders believe retaining data within custom-built, internal applications is crucial
• Only 36% of tech leaders run all of their applications on-premise or on private clouds
   

"Today, SaaS is integrated into every aspect of application and software development, serving as a tool to accelerate overall development processes and as an essential component or plug-in for specific solutions or products. While it can help drive innovation and efficiency, it also presents risks. For instance, when companies purchase a SaaS solution to expedite the creation of an application, they must provide data access to the third-party SaaS provider in exchange. By granting this access, enterprises face risks such as cyberattacks and accidental data leakage. As we increasingly rely on SaaS to develop our business-critical applications and software, we must reconsider how we approach SaaS data privacy and security. It is no longer acceptable to require companies to hand over their data in exchange for key functionality or faster time-to-market," said Shiva Nathan, Founder and CEO of Onymos.

"Onymos' research highlights the growing security concerns surrounding SaaS applications. By identifying the critical need to retain data within internal applications, they've uncovered a significant gap in the market," said Jon Brown, Sr. Analyst, Enterprise Strategy Group.

A second report will be released later this year, highlighting findings around common application and software development processes, priorities, and challenges among U.S.-based midmarket and enterprise organizations.

"In today’s digital age, cybersecurity is no longer optional - it’s essential. We are proud to recognize Onymos for its innovative solutions and unwavering commitment to protecting our data and infrastructure from ever-evolving cyber threats," said Maria Jimenez, Chief Nominations Officer at the Business Intelligence Group.

"The growing number of cybersecurity incidents, ranging from accidental data breaches to intentional hacks, have highlighted the security and privacy limitations of many software solutions available to enterprises today. These organizations can’t bear the brunt of these events – many of which originate from a third party - while trying to maintain a strong security and privacy posture. Our Onymos IoT solution enables us to help those in the most vulnerable and victimized industries, like healthcare, ensure their ecosystems and applications can be built seamlessly and are protected and provide complete data privacy. We are honored to be recognized by the Business Intelligence Group for this solution and our innovative and secure architectural approach," said Shiva Nathan, Founder and CEO of Onymos.

"There is tremendous pressure from the market for companies to innovate and provide applications that provide real value for end-users through novel features and functionality. However, engineering teams and developers are unable to dedicate the appropriate amount of time required for these activities due to overwhelming workloads that primarily consist of maintenance and recouping technical debt. Companies must find a way to make their development processes more efficient so that their teams can be truly innovative and focus on the activities that contribute to their application and company success," said Shiva Nathan, Founder and CEO of Onymos.

"IoT is growing more and more popular each day, and many industries like healthcare, agriculture, and energy are beginning to deploy the technology as part of their operations. However, for enterprises to benefit from the technology, they must first assemble the underlying ecosystem that enables the devices to connect and exchange data with other devices and systems - an activity that is extremely complex and arduous. Our IoT solution provides engineering teams and developers with the necessary building blocks to create the ecosystem required for the devices and systems to function properly," said Shiva Nathan, Founder and CEO of Onymos.