Why SOC 2 Is The Most Accepted Security Compliance Standard?

Updated: Aug 18


Vector Representation of SOC 2 standard
Reasons why a soc 2 is accepted as a security compliance standard

Introduction

SOC 2 is the most common compliance certification that SaaS and other technology companies need to gain trust in the market today. If you’re a service organization, SOC 2 audit procedure validates if you have the ability to securely manage customers' data. This goes a long way in establishing trust with the customers and demonstrating to them that you take the security of their data seriously.

From cloud computing to SaaS providers, mismanagement of data can lead to numerous threats like data theft, extortion, malware, and more, often coupled with significant costs, lost sales, and reputation loss for both you and your customer alike. This is why SOC 2 compliance is a major consideration while outsourcing key business operations to a cloud or SaaS provider.


Why do SOC 2 compliant organizations win the trust of the market?

SOC 2 is considered one of the most rigorous and comprehensive infosec reports, indicating to potential and existing customers alike that the company that has taken the effort of completing to SOC 2 audit is one that is serious about security. It is the most popular report used when partnering with US-based enterprises. Successful completion of a SOC 2 audit suggests that the organization has set the right controls in place to protect sensitive data, current or future.


A SOC 2 report builds trust with customers and business partners, especially those with stringent security requirements. It shows investors that you have set up the right controls in place and you can be trusted with safeguarding their investments. In most instances, a lack of SOC 2 can directly result in disqualification from an enterprise deal.


How Rigorous is a SOC 2 Audit?

SOC 2 requires strong infosec policies, procedures, and controls to be in place to ensure that customer data is protected. Going through the process of a SOC 2 shows your clients how serious you are about security for the long haul, by providing direct proof that you can successfully maintain a strong infosec posture across 5 Trust Services Criteria:


Security

The ability of the organization to protect information and systems against unauthorized access, disclosure, and any damage. This is the only mandatory TSC (Trust Service Criteria) and is also known as the ‘common criteria’.


Availability

Systems and information should always be available for operations and can be utilized to meet the enterprise’s objectives.


Processing integrity

The processing integrity addresses whether or not data processing can be accomplished in a complete, valid, accurate, timely, and authorized manner.


Confidentiality

The access, as well as disclosure to information and systems, is limited to a predetermined set of persons or organizations.


Privacy

This principle addresses the collection, use, disclosure, retention and disclosure of personal information in conformity with the organization’s privacy notice.


Enterprise Deals Rely on SOC 2

Security is a hygiene requirement for most enterprise deals. More often than not, SOC 2 compliance tends to be a deal-breaker in enterprise deals. a SOC 2 report can be used to open and shut doors with equal efficacy.


Enterprises want to outsource to service providers who they can always trust. However, due to their size and complexity of operations, the number of service organizations explodes. Ensuring adherence to a single trusted infosec standard across vendors simplifies their security tasks significantly. Oftentimes, particularly in the US, this standard tends to be SOC 2.


How Can You Stay SOC 2 Compliant 24x7?

An automated SOC 2 audit helps you cut down the audit time and expenses for your service organization. Scrut Automation enables easy, efficient, and yet fast compliances. We allow you to monitor all your services on a single dashboard, manage multiple compliance frameworks, and automate manual tasks while minimizing compliance workload.

Scrut also integrates with various services across cloud storage, DevOps, MDM to bring all compliance controls into one place. Hence, you can automate evidence collection and testing. With automated monitoring from Scrut, you can even collaborate with stakeholders without having to switch between different tools.


Scrut Automation is a one-stop-shop for compliance. Our software provides the fastest solution for achieving and maintaining SOC 2 compliance, making it an ideal choice for busy startups. Schedule your demo today to see how it works.


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