SOC 2 Compliance
The security of data is a top concern for all organizations. When data is mishandled by network security and applications, businesses can become vulnerable to attacks such as: extortion, malware, and data theft.
Before we start, let’s explain what SOC 2 is:
The SOC 2 standard outlines criteria for the handling of customer data. It is designed to determine if an organization has control and practices for securing and protecting customer information, especially when the data is stored on a cloud service.
Here are 4 reasons why SOC 2 compliance is advantageous for your business:
1. Decreased data breach costs:
If a data breach occurs, it may have significant financial implications for your business. – SOC 2 compliance means that you have implemented controls to prevent any breaches from occurring.
2. Achieving compliance with other regulations:
Having SOC 2 compliance aligned with other frameworks, such as ISO 27001, HIPAA, and others can accelerate your overall compliance system, especially if you use software-as-a-service (SaaS).
3. Value:
A SOC 2 report provides information about your organization’s risk and security posture, vendor management, internal control governance, and regulatory oversight, as well as information about vendors.
4. Competitive advantage:
When your organization has a SOC2 report in hand, you will have an advantage over your competitors who are not able to demonstrate compliance.
After achieving SOC 2 Type 1 compliance at one time, you can continue to comply by conducting annual Type 2 (or Type II) audits to ensure ongoing compliance. By implementing quality governance, risk, and compliance (GRC) software, you will be able to save time, money, and sleep.
With Kamanja SaaS platform, we provide all the tools you need to automate the compliance process and ensure that your organization is compliant on a continuous basis.
