One way to improve cyber security in the workplace is to follow System and Organization Controls (SOC). This system is designed to implement rules and processes for services provided by different organizations, such as web hosting companies, accounting firms, cloud services, and software-as-a-service businesses.
SOC 1 primarily focuses on internal control for financial reporting for any businesses offering finance services. Usually, a SOC 1 report is prepared by a third-party audit team, as it helps to ensure clients that their financial information is safe. Stakeholders will often request SOC 1 reports about an organization.
SOC 2 audits internal controls for service organizations involving the protection of sensitive data of customers. All SaaS organizations that store data on the cloud need to be SOC 2 certified, such as IT service providers.
How to Meet SOC 2 Compliance
Achieving SOC 2 compliance includes establishing specific practices to keep user data protected. A few different categories to follow include security, confidentiality, privacy, processing integrity, and availability. To achieve SO2 compliance related to security include using multi-factor authentication, two-factor authentication, firewalls, and intrusion detection systems.
Maintaining confidentiality for business plans, intellectual property, and internal business reports is also important in meeting SOC 2 compliance requirements. This information needs to be safeguarded with encryption. All personal information also needs to be protected against unauthorized access. Following data monitoring and quality assurance practices is important for processing integrity to ensure everything is complete and accurate.
Organizations also need to ensure that their system remains available according to the Service Level Agreements (SLAs). System performance monitoring, network availability, and managing security incidents are all key aspects of service organizations. A managed service provider (MSP) can play a key role in helping your business meet these stringent conditions.
Why You Need to Partner with an IT Service Provider
Cyber security threats will continue to pose a major risk for all types of organizations. However, following SOC 2 guidelines can play an important role in giving your business an added layer of protection. Partnering with an IT service provider makes it possible to meet these different requirements while ensuring your organization stays in compliance at all times.
Total Technology Solutions understands the importance of helping companies meet compliance requirements related to their industry. Our IT company has years of experience in the industry working with many businesses. Cyber security threats are always evolving, so our IT team is available at any time to offer assistance. Feel free to reach out to us to schedule a free consultation!