What is SOC 2? Demystifying SOC 2 Certification

What is SOC 2? Demystifying SOC 2 Certification

Categories: SOC 2

The exciting and dreaded phrase for an organization like yours to hear from a big prospect:

“We like your solution and would like to purchase…” YES! “…but, we need you to pass a SOC 2 audit.” NOOOOOoooooooo…….!

(cue scary music – fade to black)

After you regain consciousness, you realize that you need to do something soon. You Google “What is SOC 2?” You wonder “What do I need to do?” You scream “Help!”

What is SOC 2?

What does SOC 2 stand for? “SOC” stands for “system and organization controls.” The “controls” are a series of standards designed to help secure a service organization and how it conducts and regulates protection of customer information. SOC 2 specifically relates to service providers that store customer data in the cloud. That’s it.

Who Does SOC 2 Apply For?

SOC 2 was developed by the AICPA for service providers storing customer and personal data in the cloud. Therefore, SOC 2 applies to the vast majority of SaaS companies, as well as any businesses or organizations using the cloud to store customer data.

How Much Does SOC 2 Cost?

SOC 2 can cost anywhere from $20,000 to $80,000. SOC 2 pricing and costs are heavily dependant on the complexity of the infrastructure.

What Do You Need to Do For SOC 2 Certification?

The Steps to SOC 2 Certification can be confusing. We have boiled down the different types of SOC 2 certification and automated some systems so these steps can be a breeze. The most important aspects of SOC 2 certification is to demonstrate your organization and platform contain:

  • Security
  • Availability
  • Processing integrity
  • Confidentiality
  • Privacy

So… what are my next steps to SOC 2 compliance?

Tugboat Logic is here to help with SOC 2 Certification

Now that SOC 2 certification is no longer a mystery, get started with Tugboat Logic’s security assurance platform. Tugboat Logic can not only help you build a security program with turnkey policies and controls to get you secure and ready for a SOC 2 audit, it can also help automate responses to RFPs and security questionnaires and can help assess your vendor risk and choose the right one.

PS: Feeling iffy about SOC 2? Download The Ultimate Survival Guide to SOC 2 Compliance and get the help you need to ace your next audit, with tips and tricks from ex-auditors.