6 Reasons your company needs a SOC 2
What is a SOC 2 and why does your company need one? Created by the American Institute of CPAs (AICPA), a SOC 2 audit performed by an objective third party assures your clients and prospects that you have security guidelines in place — and that you follow through on them.
SOC 2 reports are unique to each organization; companies design controls to comply with one or more of the five Trust Services Criteria — security, availability, processing integrity, confidentiality, and privacy — with security as the foundation of every SOC 2.
You need a SOC 2 — and here’s why:
1. You’re a B2B, SaaS, or PaaS provider processing or storing personal or confidential info
- If you gather or store customer data at any scale, security should be front-of-mind. With cybersecurity concerns front-and-center for your enterprise customers and their users, potential clients must ensure that your product is secure.
2. More orgs are outsourcing to vendors, and prospects are asking for SOC 2 certification
- As companies select vendors with whom to entrust their sensitive data, they are seeking reliable proof of your company’s security. A SOC 2 report is often the primary document that security departments rely upon to assess a vendor’s security risk. Orgs need a way to ensure that vendors are keeping data safe and secure — and service organizations need a consistent way to prove their security. The SOC standard is a well-known U.S. security standard, and SOC reports have become a common part of doing business.
3. The SOC 2 framework can help your company get its policies and procedures in order
- Addressing security in a comprehensive way means putting systems in place to monitor and mitigate risk across your company. By taking a proactive approach to security and establishing controls using the SOC 2 framework, you’ll be developing and implementing policies and procedures that can grow with you as your company grows.
4. SOC 2 helps you shorten the sales cycle by addressing security up front
- Instead of going back and forth with prospects about your company’s security, simply share your SOC 2 audit report as evidence of your verified security practices. SOC 2 certification can help pave the way for a swift and smooth sales process, and a business relationship rooted in a commitment to data security.
5. Automation means that getting secure is easier — and more cost-effective — than ever before
- Getting a SOC 2 used to mean a significant time commitment, again and again. Security and compliance software like Vanta rewrites that story. Automation benefits all parts of the equation, streamlining the audit for you and your auditor alike — which saves you time and money in comparison with typical SOC 2 audit processes.
6. Getting secure sooner is better than facing the fallout from a breach later
- Proactively investing in your company’s holistic security posture today can save you headaches — and serious fines — tomorrow. As your company grows, the costs of a potential data breach increase exponentially, both financially and in terms of maintaining and stewarding customer trust. The best time to get secure is always now.
Vanta is “security in a box” for companies of all sizes — helping you get audit-ready fast, and supporting your company through a successful SOC 2 audit and beyond. Ready to get started?
PCI Compliance Selection Guide
Determine Your PCI Compliance Level
If your organization processes, stores, or transmits cardholder data, you must comply with the Payment Card Industry Data Security Standard (PCI DSS), a global mandate created by major credit card companies. Compliance is mandatory for any business that accepts credit card payments.
When establishing strategies for implementing and maintaining PCI compliance, your organization needs to understand what constitutes a Merchant or Service Provider, and whether a Self Assessment Questionnaire (SAQ) or Report on Compliance (ROC) is most applicable to your business.
Answer a few short questions and we’ll help identify your compliance level.
Does your business offer services to customers who are interested in your level of PCI compliance?
Identify your PCI SAQ or ROC level
The PCI Security Standards Council has established the below criteria for Merchant and Service Provider validation. Use these descriptions to help determine the SAQ or ROC that best applies to your organization.
Good news! Vanta supports all of the following compliance levels:
A SAQ A is required for Merchants that do not require the physical presence of a credit card (like an eCommerce, mail, or telephone purchase). This means that the Merchant’s business has fully outsourced all cardholder data processing to PCI DSS compliant third party Service Providers, with no electronic storage, processing, or transmission of any cardholder data on the Merchant’s system or premises.
Get PCI DSS certified
A SAQ A-EP is similar to a SAQ A, but is a requirement for Merchants that don't receive cardholder data, but control how cardholder data is redirected to a PCI DSS validated third-party payment processor.
Learn more about eCommerce PCI
A SAQ D includes over 200 requirements and covers the entirety of PCI DSS compliance. If you are a Service Provider, a SAQ D is the only SAQ you’re eligible to complete.
Use our PCI checklist
A Report on Compliance (ROC) is an annual assessment that determines your organization’s ability to protect cardholder data. If you’re a Merchant that processes over six million transactions annually or a Service Provider that processes more than 300,000 transactions annually, your organization is responsible for both a ROC and an Attestation of Compliance (AOC).
Automate your ROC and AOC
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