SOC Compliance is an independent security Audit and Certification Report that allows a service organization to provide assurance and demonstrate to its customers, partners, and stakeholders that the service is being provided in a secure and reliable manner.
WHAT IS SOC 2?
SOC 2 is Examination and Reporting on Controls at a Service Organization
Security, Availability, Processing Integrity of a System,
Confidentiality or Privacy of the Information Processed by the System
WHY SOC 2?
With the proliferation of data breaches and hacks that occur today, there is a greater focus on information security.
While outsourcing and cloud computing can increase revenues, expand market opportunities, increase efficiency, and reduce costs for the user entities, they also result in additional risks arising from interactions with the service organization and its system.
These risks can impact finances, operations, customers, reputations, and internal controls.
(Customers, Prospects, Biz Partners, BOD, executive management, government, and investors)
How the service organization can be trusted with customers’ information and that the information is secure with them?
Service Providers Challenges
How to build TRUST with Customers & Business Partners
Demonstrating Information Security at the Service Organizations and communicating with Interested Parties via SOC 2 Certification Report.
WHO ARE THE INTENDED USERS OF A SOC 2 CERTIFICATION REPORT?
Service organizations, such as SaaS companies that process or store sensitive data for their clients, receive SOC 2 Certification Report.
Stakeholders such as customers, regulators, business partners, suppliers, and the BOD of the user organization also need SOC 2 Certification Report to ensure that there is some level of protection for their data.
WHAT ARE THE BENEFITS OF SOC 2?
SOC 2 Certification
- Is a key differentiator and providing a competitive advantage in the marketplace and expanding market opportunities
- Allows you to enter markets where a SOC 2 is a pre-requisite
- Can save time, money, and difficulty. Reduces the cost and administrative burden of multiple audits over the same process