Why Do You Need SOC 2 Automation?

Why Do You Need SOC 2 Automation? Image source: Unsplash

If you are in the IT sector, you will probably insist that it is vital to be SOC 2 compliant. However, if you belong to an organization involved in a SOC 2 audit or manually implement your SOC 2 compliance process, you will understand how frustrating, expensive, and time-consuming it can be. Based on the organization's size and its level of readiness, acquiring SOC 2 compliance can take about 12 months.

SOC 2 is primarily designed for service providers that use cloud storage to keep customer data. However, it means that SOC 2 compliance applies to all companies that use cloud storage, companies that provide software as a service (SaaS), and B2B vendors.

Automation can help

To receive certification that a company is SOC 2 compliant, it must meet several criteria. These are:

Security or the system's control to protect against unauthorized logical and physical access.
Availability of the system for operation and agreed usage.
Processing integrity of the system is the complete, timely, authorized, and accurate handling and processing of vital information.
Confidentiality, meaning the organization must protect all the information that a user labels as confidential.
Privacy, meaning that all personal information that an organization collects, uses, stores, and discloses must follow the privacy principles and notice specified by the American Institute of Certified Public Accountants (AICPA) and other regulatory organizations in countries where the company does business.

Given these criteria, which require continuous monitoring, implementing SOC 2 compliance automation tool is an excellent option.

A complex process

Clients are looking for a better and faster way to comply with the broader range of companies and industries that the compliance regulators cover. The process takes a lot of time to complete, and an organization's IT department will use most of its time to meet the requirements. With the few qualified IT staff that most companies employ, handling an organization's cybersecurity and SOC 2 compliance requirements can be problematic.

Automation is a significant boost to many companies trying to achieve SOC 2 compliance certification. The system helps the organization understand the requirements to achieve compliance and automate the evidence collection and monitoring of the compliance posture, instantly warning the IT staff if there are gaps in the system or there are threats to the posture.

Benefits of automated SOC 2 compliance tool

· A good SOC 2 automation program provides 24/7 security monitoring.

· It will save you time as you do not have to do the requirements manually, especially in evidence collection, which typically involves creating spreadsheets and pivot tables, taking screenshots, documenting evidence, and manually tracking vendors, assets, and incidents. It can even handle personnel onboarding and training.

· Many customers ask for assurance when dealing with new companies. A SOC 2 automation tool can generate real-time reports that answer customer queries, which is also beneficial when auditors need control evidence.

SOC 2 automated compliance tool speeds up the compliance process, which saves you money. Further, it ensures that your security program runs smoothly. You get insights into how your security program operates and how your employees follow the standards you have set. It can prevent human errors that can lead to unexpected downtime as it takes care of repetitive tasks and satisfies the requirements of internal and external auditors.

Image: https://unsplash.com/photos/EhbuqJYNCRk