SOC2 Certification

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Overview

The American Institute of CPAs (AICPA) created the SOC 2 compliance and certification standard for service companies, which outlines how businesses should protect client data. The following Trust Services Criteria serve as the foundation for the standard: security, availability, processing integrity, confidentiality, and privacy. SOC 2 is a technique for evaluating service providers to guarantee that they safely manage your data in order to safeguard the organization’s interests and the privacy of its customers.

Type 1 report: It confirms that the suppliers’ controls are appropriate, correctly positioned, and successfully executing on the trust services criterion. It describes a supplier’s system and determines whether its architecture is appropriate for upholding pertinent trust criteria on a given date.

Report Type 2 – Every operation is tracked and information about it is gathered. It focuses on how well the controls work. It describes how well these systems function for a predetermined amount of time.

Process

Why would a company require it?

Security, availability, processing integrity, confidentiality, and privacy are the five “trust service principles” that SOC 2 uses to create criteria for handling client data. SOC 2 is a technique for evaluating service providers to verify that they safely manage your data for the sake of your organization’s interests and the privacy of its customers. SOC 2 certification is a prerequisite for security-conscious enterprises when looking for a SaaS provider.

Who needs to adhere to SOC2 requirements?

For service organisations working with or participating in technology-based services that store client information in the cloud, a SOC 2 audit is a must. SaaS cloud computing service providers and software service providers, to mention a few, would fall under this category.

What is the cost of a SOC 2 ?

The starting price for a SOC2 audit based on size of the Buisness. The cost of a SOC 2 audit often varies depending on the scope of the audit, the types of reports, the business applications, the technology platforms, the number of locations, the trust services criteria to be examined, and other supplementary services.

Benefits

Instant Business Growth

Both small and large organizations can utilize this

Management

More effective internal management

Reduced waste

A rise in production, efficiency, and profit

Reduces errors

Increased service and product quality

Improved delivery and production schedule

Annual evaluations uphold standards.

Requirements

Your firm will benefit from SOC 2 compliance and certification since you can reassure clients and potential clients that you are doing everything possible to protect their data from damaging breaches. Here are a few more advantages.

Brand Protection – SOC 2 helps you prevent data breaches, preserving the reputation of your brand.
Customer Appeal: If you can offer a SOC 2 report, businesses who are worried about security are more likely to become your clients.
Competitive Advantage – Having a SOC 2/3 report in your possession gives your company an advantage over rivals who are unable to demonstrate compliance.
Peace of Mind – Passing a SOC 2 audit gives you confidence that your networks and systems are safe.

Advantages of SOC2 Certification

Improved internal communication and process management.
It is a guarantee of the quality, safety, and dependability of food products.
It saves money that would have been spent on recalls of defective products.
A significant improvement in your market image and brand loyalty.
Greater trust in disclosures.
Foodborne disease prevention
Increase in employee morale.
Effective resource utilisation.
Controlling food safety hazards in a timely and effective manner.
Systematic administration of prerequisite programs.
Effective decision-making.

Our Advice

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