Cybersecurity is more important than ever

SOC Reporting, Security, and Privacy: Tools for Evaluating and Demonstrating Compliance in Safeguarding Customer Data

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The SOC audit framework, established by the American Institute of Certified Public Accountants (AICPA), sets guidelines for data security, availability, confidentiality, privacy, and processing integrity. SOC audits offer different ways to review and assess your company’s various systems and controls — and to demonstrate your company’s high standards to your customers.

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• A SOC 1 report evaluates an organization’s financial controls. Your company can share its SOC 1 report with customers and prospects to demonstrate your commitment to financial accuracy. This is useful for companies that process financial transactions.
  

• SOC 2 reports evaluate an organization’s technical oversight and policies. Your company can share these reports with customers and prospects to demonstrate your commitment to data security and privacy. This is useful for companies that store user data.

• SOC 2 reports are used to evaluate your company’s software, admin, and security systems, and to assess both the design of the controls that your company has put in place (SOC 2 Type I) and the operating effectiveness of those controls (SOC 2 Type II).
  

• A SOC 3 report is a high-level public-facing report verifying that an organization underwent a SOC 1 or SOC 2 audit, or both.
  

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Your company’s security practices go hand in hand with your privacy practices. You’ll want to make sure your company is up to speed on the requirements of regulations including the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR). These regulations grant consumers more control over their personal data and require that businesses abide by certain principles. In conjunction with its security practices, your company will need to review its privacy obligations in accordance with these important regulations.

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The nature of data collection and storage — and constant changes and interdependencies in the data environment — require systematic vigilance in order to establish and maintain a strong security posture.

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‍That’s where Vanta comes in. Vanta is “security in a box” for technology companies — a suite of interconnected tools that make SOC 2 security compliance faster, easier, and more manageable for companies across the spectrum in terms of size and maturity. Vanta builds a list of security controls tailored to your company, then applies those controls to continuously test your systems and data, flagging any weak spots so your company can fix them promptly and maintain an airtight security operation.

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The success of your business depends on keeping your customers’ business safe and secure from potential breaches, fraud, identity theft, and other data misuse. SOC 2 compliance is a key part of your company’s cybersecurity toolkit — and working with Vanta makes it easier than ever to get secure, and stay secure.