SmartReach.io is SOC-2 Type II Certified
This is a proven commitment to best-in-class security controls to comply with the AICPA’s Trust Services Criteria, which guarantees that it is secure, available, and maintains the highest levels of security, confidentiality and availability.
In today’s digital age, businesses across the globe depend mostly on cloud-based software services to store, process, and manage their sensitive data. As a result, customers expect their data and information to be safe and secure. To ascertain a higher level of security, most businesses or enterprises especially in the US, UK, Europe, Australia and Canada opt for software that is SOC-2 compliant and certified. Many large corporations or enterprises in India to are now seeking software that is SOC-2 Type II certified.
In this blog, we will cover what is SOC-2 compliance, the different types of SOC-2 compliance, and why it is necessary for enterprises to use software or platforms that are SOC-2 compliant.
Soc-2 compliance certificate instills a sense of trust and confidence in the software or platform that you plan on onboarding. It provides dependability and assurance.
Remember many software may state that they are Soc-2 compliant, but that doesn’t necessarily mean they are certified. So ask for the certification if your organization opts for an Enterprise Plan.
What is SOC-2 Compliance?
SOC-2 compliance is a set of standards established by the (AICPA) American Institute of Certified Public Accountants to ensure that a software service provider has implemented adequate controls to protect customer data. These controls cover five areas: security, processing integrity, confidentiality, availability, and privacy. The SOC-2 audit process involves an authorized 3rd party auditor who evaluates the service provider’s controls and issues a detailed report outlining any deficiencies or areas for improvement.
Although SOC-2 compliance is not required by law but has become an industry standard norm for software service providers. SOC-2 compliance certificate indicates that a service provider has taken appropriate and necessary steps to secure and protect customer data and can provide the enterprise with a sense of security to trust the service provider with their sensitive data.
What are the Types of SOC-2 Compliance?
There are two types of SOC-2 compliance reports:
- SOC-2 Type I
- SOC-2 Type II.
A SOC-2 Type I compliance report provides customers with an overview of a software service provider’s controls at a specific point in time. This type of compliance report is useful for enterprises that want to examine a service provider’s controls before signing a deal or contract or who need to report on their own compliance requirements. However, it only provides a limited view of the service provider’s controls, and enterprises must trust that the controls will remain effective over a longer period of time.
A SOC-2 Type II compliance report provides enterprise businesses with a more comprehensive evaluation of a (SAAS) service provider’s controls such as system, application, IT general and manual controls. This type of report evaluates the effectiveness of the provider’s controls over a specified period of time, typically six months to a year. It provides enterprises with an in-depth understanding of how a service provider (SAAS) implements and maintains its controls and it also shows that the controls are effective over longer periods of time.
Why is it Important for Enterprises Businesses to Use SOC-2 Compliant & Certified Software like SmartReach.io?
Using SOC-2-compliant software like SmartReach.io offers enterprises several benefits:
- Increased Trust and Confidence: SOC-2 compliance provides enterprises with the assurance that they need to trust the service provider with their organization’s sensitive data. It indicates that the service provider has taken necessary precautions to protect customer data and that their controls are effective over the course of time.
- Competitive Advantage: SOC-2 compliance certification has become an industry standard for software service providers, especially cloud-based ones. By demonstrating SOC-2 compliance, a service provider can differentiate itself from its competitors and get a competitive advantage.
- Compliance with Regulatory Requirements: Many enterprise businesses are subject to regulatory requirements and guidelines that make it mandatory for them to protect customer data. SOC-2 compliance provides a framework for meeting these guidelines & requirements and can help enterprises avoid heavy fines and legal liabilities.
- Improved Security: SOC-2 compliance mandates service providers to implement and keep up with the necessary controls to protect customer data. By using SOC-2-compliant software, businesses can be confident that their data is safe, secured and protected from unauthorized access or disclosure.
- Cost Savings: SOC-2 compliance can assist enterprise businesses avoid the unnecessary costs associated with data breaches, unwarranted legal liabilities, and/or regulatory fines. By using SOC-2-compliant software like SmartReach.io, enterprises can reduce the risk of such cost-intensive events occurring.
Why is it important that sales engagement platforms like SmartReach.io be SOC-2 Type II compliant and certified?
SOC-2 Type II compliance certification is important for sales engagement platforms for various reasons. Sales engagement platforms are used for storing and handling sensitive customer data, including personal and financial information. Customers should have confidence that their data is protected, safe and secured at all times, and SOC-2 Type II compliance certification provides the guarantee they need.
A SOC-2 Type II report provides enterprise businesses with an in-depth evaluation of a service provider’s controls over a specified period of time, commonly six months to a year. For sales engagement platforms, this means that enterprises can be confident that the service provider has implemented and maintained adequate and effective controls or guidelines to protect their sensitive data over a longer period of time.
Customers are becoming more aware of the importance of data security and are more inclined towards choosing a sales engagement platform that can demonstrate SOC-2 Type II compliance better still certified.
In summary, SOC-2 Type II compliance certification is essential for sales engagement software providers such as SmartReach.io to demonstrate their commitment to data security, gain a competitive edge, and fulfill their regulatory requirements. It provides enterprises with the confidence that they need to trust the service provider with their sensitive data and can help enterprises avoid cost-intensive occurrences such as data breaches and legal liabilities.