According to the latest Verizon Data Breach Investigations Report, most cybersecurity incidents now involve cloud infrastructure. The report - based on more than 79,000 cybersecurity incidents and over 5,200 breaches - found that 73% of security incidents involved external cloud assets, marking the first time cloud incidents have surpassed on-premises ones.

This was just one of the statistics highlighted at a recent Backupify webinar looking at the most impactful SaaS statistics of 2021. As SaaS solutions continue to increase in popularity, the threat to data stored via this cloud infrastructure is growing as well. The Backupify event provided data-backed insights into SaaS solutions like Google Workspace and Microsoft 365, the risks these platforms face, and what users need to do to ensure SaaS protection.

Let’s take a look at a few key takeaways from the event.

Increasing SaaS use

Today, nearly 100% of businesses are using one or more SaaS solutions. As a result, the SaaS market is currently growing by 18% year over year.

SaaS solutions have become integral to businesses around the globe and as a result, more people are using Microsoft 365 and Google Workspace than ever before. As of April 2020, Google Workspace had 6 million paying businesses and 120 million education users. Microsoft 365 now has 50.2 million subscribers.

Much of this growth has been spurred by the COVID-19 pandemic which forced many companies to shift to remote work. From April to July of this year, Microsoft Teams use grew by 72%. Microsoft Teams now has 250 million daily active users, adding 105 million in just three months.

The risk to SaaS data

As a result of the explosion of SaaS, 32% of business-critical data now resides in SaaS applications. However, many companies lack the SaaS protection necessary to safeguard this data.

According to IDC, 43% of organizations suffered unrecoverable data loss within the last 12 months, and 63% of organizations have suffered a data-related business disruption within the past 12 months.

In many of these incidents, human error was the culprit. According to one report, 85% of data breaches involve a human element and 61% involve compromised credentials.

In many cases, data breaches also involve ransomware and educational institutions are being particularly hard hit. More than 1,600 schools were targeted by ransomware in 2020 alone. That year, ransomware attacks on U.S. schools and colleges affected more than 1.3 million students and resulted in 531 days of downtime. This downtime was estimated to cost $6.6 billion in economic terms. Only 68% of the data was recovered after paying the ransom.

What you can do to protect your company

According to Statista, 91% of organizations backup their databases, 68% of organizations backup their email, and only 16% backup their SaaS data. Additionally, 50% rely on their cloud vendor for backup and recovery of SaaS data.

However, cloud data protection is a shared responsibility with vendors often being responsible for their cloud and IT teams and end users being responsible for the data in it. In order to ensure adequate SaaS protection, companies need a third party backup solution that allows them to recover quickly and easily from cloud data loss, regardless of the cause.

Backupify is an all-inclusive solution that offers SaaS protection of essential Microsoft 365 and Google Workspace data. Our cloud-to-cloud backup solution adds an extra layer of security in the event of data loss due to a security breach. With backups performed three times daily, companies can be confident the essential data they rely on will always be at their fingertips.

Want a third-party backup solution purpose-built for protecting your Google Workspace and Microsoft 365 data? Contact us.