Adding a new SaaS provider to your organization involves quite a bit of research depending on the size and capabilities. Taking into account the threats versus the opportunities can be daunting. The SOC 2 compliance auditing method, introduced by the AICPA, ensures third-party vendors follow strict computer security guidelines to protect the data of your company and privacy of your clients.
Since storing customer data into the cloud has become increasingly popular, SOC 2 is becoming more important for a variety of organizations. Any company that uses the cloud infrastructure to store customer’s information has to be compliant. The process involves a CPA and information technology expert to come in and evaluate how a company is processing its data and policies, take notes during observations, and perform tests. Organizations must show that they are capable of responding to security incidents such as if a customer’s data is leaked. They also have to set up alerts that will notify them when something has happened. Lastly, they must show that they know how to take correct action when a threat occurs and find out the cause and effects.
When organizations prove they are compliant, then they are demonstrating their commitment to IT security. It is important to seek SaaS that is compliant and safe. Furthermore, showing that your organization is SOC 2 compliant boosts your reputation, provides an advantage compared to competitors, and can prevent you from losing business. SOC 1 requires companies to pass an audit test, whereas SOC 2 entails long-term, precise policies in place.
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