SaaS company uses SOC 2 to move up market
A SaaS company improved compliance and audit processes, leading to streamlined SOC 2 examinations and enhanced customer data security.
A software as a service (SaaS) company of 150–200 employees that specializes in providing a platform for business-to-business gifting and engagement.
The situation
The company was consumed with manual processes and found it burdensome to find necessary evidence for SOC reporting. It was difficult to track security reviews for customers who needed confirmation that internal controls were in place to secure customer data.
When the head of IT joined the company, they were in the dark on compliance processes because people had left the business, evidence couldn’t be found, and security reviews couldn’t be tracked as they were not using any sort of automation. Auditors were consistently finding exceptions during the audit process.
Solution and results
The company wanted a streamlined process through a SOC 2 examination to provide evidence of their audit and demonstrate protection of the customer.
Practitioners provided SOC 2 examinations using a leading security and compliance platform that helps companies automate and manage compliance processes for security standards such as SOC 2.
The firm helped streamline the compliance and audit process and guide by recommending the right audit frequency. This helped automate the compliance process to better track things internally.
By collaborating with the firm and using a security and compliance platform the company accelerated its sales cycles and successfully moved up market.