Securing Data In Subscription Management Business

Need for Data Security in the Digital World

The world of subscription management is one that is constantly thriving and active and securing data in here is usually a challenge. Despite this, the security that these platforms promises its clients is an unsung hero quietly working behind the scenes to protect associating businesses from all forms of cyber threats. In the web world and in the subscription management industry too, security is all about shielding valuable customer data and transactions from the prying eyes of cyber assailants. It is like an impregnable firewall that protects your business from all kinds of online attacks and data breaches.

The complex nature of the subscription management industry demands a dire need to address various issues and concerns arising from clients and customers with seamless and efficient services. Handling sensitive customer data and transactions is a high priority here. So, how can subscription businesses gain the trust of their users who share key data to the platform?

Join us as we explore the nuances of data security in subscription businesses and how this can be achieved through encryption, access controls, compliance frameworks and a lot more.

Have in Place Robust Data Encryption Protocols

Data encryption is the most common way to secure organization information including customer data. Data security in subscription management businesses too can be achieved by following encryption protocols. As cells are considered the basic unit of an organism so is encryption to data security. It is also considered the most straightforward means of protecting crucial information that passes from endpoints to servers. Encrypting customer data is akin to keeping jewellery in the safe hands of a bank locker that cannot be accessed without the right code. Any unauthorized entry will be tracked and prevented instantly and is similar to cracking a code without a key. Encryption techniques can be employed to further secure all data that is in transit as well as in rest from all kinds of data breaches.

Implement Strict Access Controls

This is similar to adding layers of security to your vault so that it can be accessed only by unlocking each complex layer. Each layer thus adds to an additional barrier, making any unauthorized access difficult and almost unlikely. Data security in subscription management business too follows this dictum. This feature is applied for securing data in the subscription management business by assigning different categories of users various permissions to access certain features of the platform. Again, data security in subscription management businesses follow the ‘Role Based Access Control’ method where access controls are assigned based on the role that the user holds within the organization. This may vary from administrator, manager, subscriber and so on. Each of these roles may have different levels of access to certain features or functionalities of the application.

Restrict Data Collection to a Minimum

By restricting data collection to a minimum, privacy can be warranted and compliance to data protection regulations can be ensured. This is another feature adopted for data security in subscription management businesses. Here, focus is given to just the necessary data like contact details, payment information and subscription information. Collecting all other irrelevant data are avoided and kept to a bare minimum. Again, the sign-up processes and registration forms should collect only necessary information. Additional customer data can be collected on-the-go based on the customer interaction with the application. Implementing SSO functionality can again eliminate the need to collect and store data thus reducing the overall data footprint. Also, by leveraging the services of trusted third-party players, you can minimize the amount of sensitive customer data stored within the application. Another way to protect data is by diligently employing data retention policies so that all unnecessary and outdated data can be regularly purged out from the system. This way, data security in subscription management businesses can be enhanced and retain the trust of the subscribers.

Conduct Regular Audits

Subscription management is an area that involves dealing with truckloads of customer data and hence only regular audits can make sure it remains safe and secure. The various data include payment details, personal data, subscription data, third-party integration data, transaction and usage and the list can go on and on. These audits can help the data in subscription management businesses to override risks from any kinds of cyberattacks and data breaches. It will also improve the overall security of the business thus gaining customer confidence and trust.

Employ Two-Factor Authentication (2FA)

This adds an extra layer of security to the login process thus making it hard for an outsider to access the platform and steal important customer or subscription data. Data security in subscription management business is ensured with this approach. With this in place, an outsider will struggle to enter this platform on the sly in spite of getting the login credentials through inappropriate methods. This is a tried and tested method that works magic in case of weak or vulnerable passwords too. The second layer of authentication acts as the saving grace in such situations as this method goes beyond protecting the application with a mere username/password. In the subscription management business implementing 2FA boosts customer confidence of the platform as customer data are in safe hands with this additional layer of security. All unauthorized entry into user accounts by hijackers can be easily put to a halt with this system. Any kind of account takeover attacks too can be prevented by using this method.

Host Customer Data on Secure Infrastructure

Hosting data on a secure infrastructure ensures that its confidentiality and integrity are taken care of. Secure infrastructure means that the encryption is strong, firewalls are implemented to make sure that incoming and outgoing traffic is monitored and controlled, and intrusion detection systems are put in place to identify and respond to any potential threats. To make the infrastructure more resilient, it has to undergo regular security updates and redundancy mechanisms. Also, secure infrastructure should be designed such that it is compliant with industry-recognised security standards. This can further reduce any kinds of risks that may across due to non-compliance. Thus, a secure infrastructure means data security in the subscription management industry.

Maintain Comprehensive Incident Response Plan

This is mandatory for all subscription management businesses as it outlines the necessary steps to be taken in case of any incident of data loss or leakage. This pre-defined process can reduce the impact on stealing customer data caused by any kind of security breaches. This process assists in the security of data in subscription management business. Being a comprehensive plan, it lists out steps to be taken to contain and prevent any kind of security breach from spreading into other systems or affecting  more customer data. This plan also keeps a log of these incidents so that all evidence regarding the date and time of the activity is recorded.  It also has in place the protocols for alerting the various associated stakeholders regarding such incidents so that timely action is taken and customer trust is restored.

Provide Comprehensive Employee Training

Employee training is essential not just to understand how to use or handle the platform but also on how to manage customer data so that it is not misused. This ensures the safety and security of all kinds of data in the subscription management business. Here, employees are trained on the various protocols involved in encryption, access control and data disposal for data security purposes. They clearly understand data protection regulations, security tools and technologies used by the company and how it can be used for data security in subscription management business. It can also prevent data from any kind of security breaches. With training, customers are equipped to respond quickly to security incidents and prevent it from any further damage.

Secure your Customer Data with saaslogic

Data security in the subscription management business is a highly debated one due to the pivotal role it holds for the progress of this industry. Customer data is of primary importance to saaslogic and we work to make sure that their needs and requirements are our priority. We have in place stringent processes and policies that meticulously safeguards customer data and prioritizes its privacy and security as paramount. We comply to the above-mentioned methods effectively and work towards securing customer data and in turn gaining their trust. Our application has been designed to capture just the essential customer data which is then rigorously encrypted such that any unauthorized access is close to impossible.

In case you are on the look out for a subscription platform that guarantees the safety and security for both your data and your customers’ then don’t hesitate to reach out to us.