It is likely that you have heard of SOC 2 audits by now and that you are either being asked for your SOC 2 report or if you do not have one, being asked when you will have one in place. Let’s start with the basics - what is SOC and why do companies go through the audit process?
The SOC (System and Organization Controls) audit process involves several key stages to assess an organization's controls related to security, availability, processing integrity, confidentiality, and privacy. There are three primary types of SOC (System and Organization Controls) audits: SOC 1 (focuses on financial reporting), SOC 2 (focuses on security, availability, processing integrity, confidentiality, and privacy of data), and SOC 3 (similar to SOC 2 audits but result in a more generalized report that can be publicly distributed). Each type serves different purposes and focuses on various aspects of an organization's controls.
Technology companies are generally asked to provide their SOC 2 report as it focuses on their management of data and the rigor of their internal processes. Companies undergo SOC 2 audits to demonstrate their commitment to safeguarding sensitive data and ensuring the security, availability, processing integrity, confidentiality, and privacy of customer information. These audits provide assurance to clients, partners, and stakeholders that the company has implemented robust controls and procedures to mitigate risks associated with data handling and processing. Achieving SOC 2 compliance enhances the company's reputation, instills trust among customers, and opens doors to new business opportunities by showcasing a dedication to security and compliance standards. Moreover, SOC 2 compliance is often a requirement for companies operating in industries with stringent regulatory requirements, such as healthcare, finance, and technology, ensuring adherence to industry-specific regulations and standards.
Hybridge has recently undergone the SOC 2 audit process and partnered with Vanta as the underlying platform to facilitate the process. Why? Because Vanta will guide you in implementing the proper controls and help create, collect, and centralize your security documents. Add to that Hybridge support, knowledge, and expertise and you have a significantly streamlined process.
Hybridge will guide you step by step on implementing Vanta in your environment. We will ensure all your systems are in compliance and help you craft the required policies. We have relationships with knowledgeable auditors that have worked with Vanta and Hybridge in the past creating a full ecosystem of support for your audit needs.
If you are interested in learning more about our audit support process or are ready to start the SOC certification journey, contact Claudia at info at hybridge.com for more information.
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