SaaS companies today are scrambling to comply with certain security frameworks like AICPA SOC 2, ISO 27001, CSA STAR etc., because demonstrating information security reduces sales barriers, boosts customer trust and increases the protection of sensitive data. But getting compliant is super complicated and eats up loads of time for employees. Moreover, many organizations lack the knowledge and experience required for these frameworks, and have no idea where to begin their compliance journey and how to maintain compliance throughout the year.
Presented by:
Meiran Galis, Scytale
Mikael Yayon, EY
Raz Kotler, PayPal
In this panel we'll discuss:
• The traditional audit process versus the modern audit process
• Why outsourcing compliance to third parties will allow internal resources to be utilized more strategically
• The importance of automating repetitive audit-related tests
• An innovative approach to security compliance that streamlines the entire security audit process
• How to scale your security audit, whether you're a startup or a corporation
• Auditor perspective and future developments
Summary of the Webinar
Speakers:
- Meiran Galis, CEO, Scytale;
- Mikael Yayon, Managing Director specializing in Advisory-Technology and Risk, EY
- Raz Kotler, the Innovation & Cyber Threats Leader, PayPal.
This webinar provides a deep dive into the multifaceted world of security compliance within the Software as a Service (SaaS) industry. It commences by highlighting the inherent complexities that SaaS companies face when striving to meet the requirements of various security frameworks. The webinar featured a distinguished panel of experts who brought valuable insights to the forefront. These experts engaged in illuminating discussions that spanned a spectrum of vital topics.
One key focal point was the dichotomy between traditional and modern audit processes. The webinar underscored how modern audit methodologies have evolved to make compliance more efficient and effective, contrasting with the inefficiencies, inaccuracies, and complexities often associated with traditional, manual audit methods. Both, startups and larger corporations face distinct challenges on their compliance journeys, with startups investing time in the wrong areas, lacking the requisite knowledge and experience, incurring increased costs, and achieving suboptimal results. Meanwhile, corporations struggle to align multiple stakeholders and systems, dealing with a multitude of frameworks, products, and numerous people and applications.
The webinar provides an overview of the most common compliance frameworks currently in use, including HIPAA, SOC 2, ISO 27001, PCI DSS, HITRUST, CCPA, GDPR, and CMMC,highlighting the importance of selecting the appropriate framework based on market needs.
Amid the discussion of industry trends, the shift towards remote work, emerging technologies, multiple security frameworks, outsourcing compliance efforts, increasing cloud adoption, and sharing compliance posture with stakeholders, emerges as significant themes.
The importance of comprehensive audit preparation is a central point of emphasis, as the panelists stress the need for meticulous scoping, clear business objectives and timelines, stakeholder identification, implementation of supportive technology stacks, establishment of robust policies and procedures, top management buy-in, and security reviews at both board and management levels.
Additionally, the webinar highlights the intrinsic value of compliance, which extends beyond mere regulatory adherence. Compliance fosters integrity, which, in turn, enhances a company’s reputation and paves the way for global and enterprise partnerships. The role of risk assessments in tailoring compliance to an organization’s specific needs is also explored.
A big discussion is around the future of the SaaS and auditing landscape. Panelists speculate on how these industries might change and improve in the next five years, reflecting on potential transformations and advancements.
This webinar delivers a comprehensive overview of the challenges, trends, and future prospects of security compliance for SaaS companies, enriched by the insights of seasoned experts. It covers the pivotal role that compliance plays in today’s SaaS landscape and provides a roadmap for navigating this ever-evolving terrain.
