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Pros and Cons of SOC 2 Compliance Automation Software

SOC 2 Software Pros and Cons

Is SOC 2 Compliance Software Right for You and Your Business?

It is difficult to imagine completing a long drive or driving to a new place today without a GPS.

Without a GPS, there’s a lot more work to be ready to hit the road. You have to write out directions, mark a route on a map, or use a compass to determine your route. If any bumps in the road occur, you have to independently figure out how to get back on track.

Similar to a GPS, SOC 2 compliance software demystifies and reduces the work for your information security journey. Good SOC 2 software should prepare you for the road ahead by alerting you to upcoming bumps in the road and automatically rerouting when issues occur.

What Are SOC 2 Compliance Tools or Software? 

SOC 2 tools or software should guide you in your journey to SOC 2 compliance. Software helps you determine the unique policies, controls and evidence tasks necessary to fulfill SOC 2 requirements and pass your audit.

But what are the benefits and downsides of using SOC 2 compliance software? To find out, we sat down with some of our customers and Jitendra Juthani. Jitendra is Tugboat Logic’s Director of InfoSec Risk and Compliance and the previous Director of Risk Assurance at Big Four audit firm PwC.

Benefits of SOC 2 Compliance Automation

Save Time on Compliance Audits 

Automation is the primary way SOC 2 software saves you time. During your onboarding process your software provider will ask about the particularities of your business and industry. Some providers use an onboarding interview, whereas Tugboat Logic uses a simple 15 question questionnaire to determine your businesses’ SOC 2 project scope.

Policies, controls and evidence tasks are tailored to your business and mapped to the SOC 2 framework. Everything is then auto-populated for you.

Without software you will have to create all your SOC 2 documentation on your own. This is no simple task. To pass your SOC 2 audit the average business needs 80-100 controls and 25 security policies put in place.

This is why using a SOC 2 automation software cuts your audit preparation time in half.

Tugboat Logic’s in-platform and automated risk assessments, vendor risk assessments, and security questionnaire responses are also a massive time save.

“Tugboat Logic is a tool we can rely on moving forward. It provides us with guidance and a bunch of useful project management features. For instance, it assigns tasks to individual stakeholders for evidence collection and includes due dates. It also integrates smoothly with our team. It ensures stakeholders understand their responsibilities and makes it easy to complete them.”

Save Your Organization Money in the Long Run

Without software, the average costs of SOC 2 assessments, consultation, control implementation and audits are significantly more expensive.

Using SOC 2 compliance software, customers’ certification costs go down by 60%. 

See more on where software saves you money in the chart below:

How much you saving using a SOC 2 software

This is how SyncMonkey saved $100,000 by using SOC 2 compliance software.

Unfortunately, SOC 2 can’t be fully automated. This is why many vendors in the space offer additional support. Tugboat Logic customers, for instance, have access to our in-house Customer Service and Labs team (16+ InfoSec experts who have 100+ years of audit experience across industries). You get expert assistance every step of the way for more than half of the cost. 

Still Have Questions About How Much SOC 2 Costs?

Check out our SOC 2 Cost Guide.

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Centralized Compliance Document Organization, Storage and Access   

Without software, a company’s SOC 2 documentation can be all over the place. Your policies may be in Google Docs, controls in spreadsheets and then dozens of folders of screenshots for evidence. And, all of this is scattered across many different devices.

As I am sure you can imagine, this makes organizing, storing and accessing your evidence and data quite challenging.

Tugboat Logic Dashboard

The Tugboat Logic platform is designed to be your centralized “system of record” for your SOC 2 and InfoSec program.

Having a one-stop-shop for your security projects is crucial. Especially if you hope to expand into new markets, as they come with new security requirements and frameworks beyond SOC 2.

 

 

“So far using the Tugboat Logic tool has been night and day, I don't know how we would have organized our planning without this, it has been pivotal and seamless.”

Analysis, Visibility and Accountability

SOC 2 Readiness Project - Tugboat Logic

Another benefit of using SOC 2 compliance software is the ability to easily and quickly see and analyze your progress.

Your dashboard includes everything from the status of your integrations, policies, security questionnaires, remaining evidence tasks, and your overall progress.

The dashboard along with features like the readiness calendar allow you to assign tasks, hold team members accountable and easily make any necessary changes to your roadmap if an issue arises.

 

Human Error Reduction Through SOC 2 Document Automation

Similar to completing a long drive without a GPS, completing your SOC 2 compliance project without software greatly increases the possibilities of human error.

How?

  • A piece of evidence for a specific control could be missed or not fully meet the requirements.
  • A control could be missing necessary details for your business’ operations.
  • A policy could not quite encapsulate the risks associated with your industry.

Each of these mistakes doesn’t just increase the time of your SOC 2 journey, but is also very expensive. For each mistake you’ll have to bill more hours with your auditor.

Everything is monitored when you use compliance software. This drastically reduces the possibility of human error at every stage. Tugboat Logic’s team of experts manage our platform and have the experience to know how to avoid these errors. Further, Tugboat Logic’s over 50 integrations cover over 100 unique evidence collection tasks in your compliance project. Your integrations will automatically pull evidence from your tech stack right to the corresponding control. You’ll also receive notifications if issues occur.

Dedicated Reporting on Progress of Document Gathering for SOC 2

Prospective customers will often ask you to provide documentation around your security practices and environment to ensure you are a secure business partner.

Tugboat Logic’s platform will easily give you the security assurance reports you need to share with prospects. You can generate reports that highlight your overall security posture or certain attributes of your security environment that potential customers are inquiring about.

Remember, your security program is a tool to drive sales. This is why Tugboat Logic customers use their security programs to improve their sales win rate by 3x. 

Jitendra Juthani - Tugboat Logic

As Jitendra Juthani, Tugboat Logic’s Director of InfoSec Risk and Compliance said, “compliance software can easily produce reports to show potential customers the security environment that you currently have in place or are working towards, even before your audit happens.”

“Tugboat Logic has definitely made our lives significantly easier. It's reduced cost, it's helped us win revenue that we wouldn't have been able to win unless we got the compliance that we were able to with Tugboat.”

Added Security 

SOC 2 compliance software adds to your overall security posture because software providers often have extra security measures in place to keep your data and information secure.

Tugboat Logic’s security infrastructure is created by our security and risk management team, who specialize in ensuring our operations exceed industry standards.

There is no such thing as being too secure. So, if you use a compliance software you’ll get peace of mind and increased customer trust. Because you know industry experts are keeping your data secure.

The Downsides of Automation of SOC 2

Now that we have gone over the benefits of using SOC 2 compliance software, let’s get into the downsides.

Nothing Is Fully Automated

Despite what a Google search may tell you, it is not possible to fully automate your SOC 2 audit process with any software currently in the market. You cannot automate evidence for controls like creating your Business Continuity Planning (BCP) or testing your BCP every year.

However, using software vastly reduces the amount of manual work required to pass your SOC 2 audit.

Be Careful Who You Trust With Your Information

Working with a software provider does come with added security because they often have advanced security protocols and expertise.

However, putting your data and information into any third-party environment always comes with some kind of risk. For example, if a cyber attack occurs at your SOC 2 software provider, this will impact them and you.

Before selecting a SOC 2 software provider, be sure to ask them about the security and privacy features they have in place to protect you and your business if a breach occurs.

Lack of Features out of the Box

SOC 2 compliance software does give you the necessary policy and control templates to pass your audit. However, you may have to add customizations to those policies and controls to show you are meeting the SOC 2 requirements in a way that accounts for the unique risks associated with your business.

Tugboat Logic’s in-platform policy editor, control implementation details and vast educational content make this easy as they show you how and where to add any necessary customizations.

 

Tugboat Logic Is Your Key to SOC 2 Audit Automation

If you still have questions about whether SOC 2 compliance software is right for you, our team of experts is always here to help.

If you’re ready to try a SOC 2 compliance software that saves you time and money, drives sales and will be your one-stop-shop for all things security assurance, grab a free trial of our platform.

SOC 2 Compliance Software Buyer's Guide

Everything you need to find the best SOC 2 compliance software for you and your business.

Download Guide