5 Reasons why you need SOC 2 compliance :

Many clients today expect other businesses to meet SOC 2 standards, and having SOC 2 report shows that your company takes serious actions to cybersecurity. It’s highly recommended to organizations who are service providers, because it will highly increase trust and credibility to your company and you will increase sales.

What is SOC 2 ?

It’s an information security standard that evaluates how an information provider protects and manages customer data. This standard is based on five criteria: security, availability, integrity of processing, confidentiality and privacy.

It is used to ensure customers that their data security and management practices are in line with good industry practices.

SOC reports also come in into two types:

SOC 2 type 1 :?

Evaluation involves assessing the controls in place at a specific date, with the goal of verifying controls. The report then provides an assessment of the existence and relevance of these controls at that particular time.

SOC 2 type 2 :?

A review of the controls in place over a specific period (typically 6 months to 1 year), its objective is to assess the operational effectiveness of these controls. This evaluation assesses the existence, relevance, and operational effectiveness of the controls during the audited period.

SOC 2 trust principles :

Security : companies should demonstrate the implementation of good security measures to protect data and systems from unauthorized access. For example you can employ access restrictions to prevent harmful attacks.

Availability :?

SOC 2 compliance for Availability includes:

• Determine Current Usage: Establish a baseline for capacity management to evaluate and mitigate risks of reduced system availability due to capacity constraints.?

• Environmental Threats: Assess risks that could affect system availability, like severe weather conditions, fires, power outages, or failures in environmental control systems.?

Processing integrity :?It is focusing on offering the right data at the right time, the data processing must be quick, valid and allowed.

Confidentiality : By Safeguarding private data like financial records, corporate strategies, and intellectual property. Also, implementing proper procedures for storing and securely destroying sensitive information.

Privacy : Ensuring that your organization's practices align with its privacy policy. And the use of clear language in privacy notices,? also collecting data from reliable sources.

Why you need SOC 2 ?

To be competitive and meet the growing demand for security assurance, B2B and SaaS companies should prioritize obtaining SOC 2 certification.

5 reasons to obtain a SOC 2 compliance report :

1. Improve customer trust : SOC 2 report shows to your customers that your company takes this topic of data security and privacy very seriously and it will boost customer trust.
2. Improved Vendor Relationships: Many vendors require their partners to be SOC 2 compliant. By obtaining a report, you can strengthen your relationships with existing vendors and attract new business opportunities.
3. Competitive Advantage: having a SOC 2 report can differentiate your business from competitors. It positions you as a trusted and reliable partner, giving you a leg up in securing new clients and contracts.
4. Reduced Risk: SOC 2 compliance involves a rigorous assessment of your organization's security controls. By identifying and addressing potential vulnerabilities, you can reduce the risk of data breaches and other security incidents.
5. Regulatory Compliance: A SOC 2 report may be a requirement for compliance with specific regulations. Additionally, it can help you demonstrate your commitment to data protection and privacy standards.

Book a free consultation with sourceLogique

Manage SOC 2 compliance with sourceLogique :?

sourceLogique is a company specialized in IT consulting and audit, according to different standards/norms (SOC 2, SOX, ISO 27001, ISA, NIST, etc.). We are based in Canada and Morocco.

We understand that companies wish to obtain a SOC 2 Type II certification to ensure that its systems and processes meet the criteria for security, availability, processing integrity, confidentiality, and privacy.?

Our team of seasoned experts will leverage their deep expertise and technical know-how to successfully complete this engagement, ensuring that clients achieve and maintain SOC 2 Type II certification.?

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