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How To Prepare for a SOC 2 Audit: Top 3 Tips
In today's interconnected and data-driven world, safeguarding sensitive information has never been more critical. As...
This certification is essential for service organizations handling customer data, assuring customers and partners of their commitment to cybersecurity and privacy.
An SOC2 audit examines the implementation of 80-100 controls, encompassing data security measures, administrative policies, vendor management, risk assessment, security training, and employee onboarding/offboarding.
Click here to read more about what is SOC 2 in our blog!
With any major investment, businesses need to consider if the cost is worth the benefit. Attaining an SOC2 report is a significant feat with an investment of time and resources, but your investment will pay off.
Don't miss the chance to read our blog and delve into why should SMBs care about SOC 2 Compliance.
Enhance your brand reputation and credibility among your customers, partners, and investors. They'll see you as a reliable and secure provider of services, and they'll want to do more business with you. You'll also avoid any nasty lawsuits or fines that could ruin your reputation. Plus, you get to display the SOC2 seal logo on your website.
You'll have a robust system of controls and policies that will protect your data and assets from threats.
You'll also have less downtime and more productivity, as you'll be able to handle any issues quickly and efficiently. You get the added bonus of speeding up your Zero Trust journey!
You'll have clear goals and objectives and be able to continuously measure and monitor your progress and results, ultimately leading to reduced operational risks and costs.
By having SOC2 certification, you can scale your business without compromising your security and compliance.
Demonstrate your commitment to quality and excellence, and beat out competitors who might not have an SOC 2 report. You can leverage new technologies and opportunities that require SOC 2 compliance.
Your employees can feel proud of working for a reputable and responsible organization that values their data and privacy.
Long-term savings of time and money. SOC 2 compliant policies, procedures, and controls will make it easier to achieve other security certifications.
Save time filling out different security questionnaires for every large customer. These questionnaires can be incredibly detailed and difficult to fill out if you don't already have processes and documents in place. You can also save money on audits and cyber-insurance premiums.
We handle both the achievement of your SOC 2 Compliance as well as the continual maintenance of it, giving you the piece of mind to sit back and focus on your actual work.
Plus we have first hand experience on what to expect from the process, since BEMO is a proudly verified SOC 2 Type II Compliant Company.
BEMO handles the entire process of attaining your SOC 2 Compliance:
BEMO handles all the ongoing maintenance that goes into maintaining your SOC 2 Compliance:
The security criteria is a mandatory requirement for SOC 2 attestation. We will engage in a collaborative discussion with you to determine any other appropriate TSCs that align with your organization's objectives.
Required proof that your systems are protected against unauthorized access and other risks.
Example: Security policies, risk assessment and mitigation, protection and monitoring, security controls, and configuration management.
PII Protection: Personally identifiable information.
Example: Storing social security numbers, email and physical address, etc. Use encryption, access control, and retention.
Evaluates how your business protects confidential information.
Examples: business intellectual property, financial reports, any confidential info. Use access control, encryption, information protection, and policies.
Determines whether your employees and clients can rely on your systems.
Examples: Disaster recovery, performance monitoring, business continuity, and incident response.
Determines whether a system works properly.
Example: Transaction processing is accurate to avoid fraud. to avoid fraud. Use process monitoring, quality control, etc.
There are many factors that go into the decision whether to pursue a Type 1 or 2. A combination of your goals, cost, and timeline constraints will more than likely dictate the choice. Your customers or partners may make the decision for you by asking specifically for a Type 2.
The table below lays out some of the more important distinctions between the two types.
For a more in depth explanation of Type I and Type II check out our blog here.
Type I | Type II | |
---|---|---|
⌚ Time to Achieve |
3-6 Months |
6-12 Months |
💰 Cost |
Least expensive |
Most expensive |
❓ What It Does |
Short-term. Snapshot of security controls at a single point in time |
Long-term. Ongoing effectiveness of security controls over time |
✅ Pros |
Shorter audit windows; faster and less expensive |
Provides a greater level of trust with clients and partners |
🚫Cons |
May not provide enough assurance and eventually produce the need for Type II |
Longer audit window & more expensive |
🔁 Renewal |
Every 12 months |
Every 12 months |
Experience a stress free achievement of SOC 2 while BEMO navigates the world of compliance for you. Download here your free brief to get all the details on what our SOC 2 Solutions entails.
Type I is a snapshot in time - it looks at the controls you have in place at that moment in time. Type II examines how your controls perform over time. Type II takes longer and is more costly to achieve, but it is generally more requested (and respected) by customers, partners, and prospects.
To learn more in depth details, read our blog here.
Your security will be in place with Level 1 and you will be paying a monthly subscription price for Platinum security. That won't change. You will only pay the difference in the SOC 2 Level 1 and 2 compliance package.
BEMO Compliance customers are provided a public-facing compliance page that they can share with their customers, partners, etc. This portal displays the current status of your compliance framework and security control status in your environment, assuring that you are meeting the requirements. The SOC 2 Attestation report is an internal document (generated by a 3rd-party auditor) that describes the organization's systems and process in-depth. This report can be shared with customers via a secure portal or email under a non-disclosure agreement (NDA).
We like to be transparent. Scroll down to view the pricing breakdown for Type I and Type II.
Check out our most recent SOC 2 compliance blog posts, written and researched by our experts.
Stay always one step ahead of the game!
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