In September 2023, the team at SMB Solutions Cloud Services completed a business security and compliance milestone and obtained our AICPA SOC 2 Certification. An achievement in business and a testament to our team’s dedication to keeping your data secure.
What is a SOC 2 Certification?
The SOC 2 certification, developed by the American Institute of CPAs, defines the criteria for how a business manages customer data based on the 5 trust service principles – Availability, Confidentiality, Privacy, Processing Integrity and Security.
What does this mean for you as a Customer or Partner?
Service Organization Control (SOC) 2 certification offers several advantages from a customer’s perspective, especially in today’s digital age, where data security, privacy, and compliance are paramount. Here are some key benefits to point out:
1. Enhanced Trust and Reliability
SOC 2 certification is a testament to a supplier’s commitment to high standards of security and operational procedures. For customers, this means the organization they are dealing with is reliable and trustworthy when it comes to managing and protecting data.
2. Data Security
One of the core principles of SOC 2 certification is ensuring the security of the system processing users’ data. This means the supplier has robust and effective safeguards in place against unauthorized access, data breaches, and other security incidents. For customers, this translates to greater confidence in the supplier’s ability to protect sensitive and confidential information.
3. Privacy Protection
With privacy being a critical concern for many users, SOC 2’s focus on privacy ensures that the supplier handles personal information in a manner that respects and protects individual privacy rights. This is particularly relevant in industries where personal data is extensively processed and stored.
4. Compliance Assurance
For businesses operating in regulated industries or markets with strict data protection laws (such as GDPR in the European Union or CCPA in California), partnering with a SOC 2 certified supplier helps in complying with legal and regulatory requirements related to data protection and privacy.
5. Risk Mitigation
By adhering to SOC 2 standards, suppliers are likely to have implemented comprehensive risk management processes. This proactive approach to identifying, assessing, and mitigating risks not only protects the supplier but also minimizes the risk exposure for their customers.
6. Improved Service Delivery
The SOC 2 certification process evaluates the effectiveness of a company’s controls related to the availability and processing integrity of the systems used to process users’ data. This means customers can expect reliable and high-quality services from their suppliers.
7. Vendor Management
For organizations that rely on a network of vendors and third-party suppliers, choosing SOC 2 certified partners simplifies the vendor management process. It provides a standardized benchmark for security and compliance, reducing the need for extensive due diligence.
8. Competitive Advantage
In a market where consumers are increasingly aware of data security and privacy issues, working with SOC 2 certified suppliers can give businesses a competitive edge by demonstrating their commitment to these principles.
In summary, SOC 2 certification offers substantial benefits from a customer’s perspective, providing assurance about the security, availability, processing integrity, confidentiality, and privacy of the data handled by the supplier. This certification helps build trust between businesses and their customers, ensuring that sensitive information is treated with the utmost care and respect.
Reach out to our team today if you’re ready to start hosting your SAP Business One in the SMB Solutions Cloud!