Oversight is essential
The complexity of today’s business and IT environment isn’t lost on anyone, and proving to partners and customers that a company has mastered challenges related to reliability and risk is an always-on proposition.
Central to building trust around digital risk are System and Organization Controls (SOC) reports, which play a critical role in validating and providing transparency into how organizations are managing governance and compliance. Based on detailed attestation audits, including a high-level review of business and technology controls, they assess risks and controls surrounding a variety of topical areas including security, operations, finance and data management.
Today, obtaining SOC reports is critical. Without them, teams may end up filling out highly detailed questionnaires from customers and partners. In some cases, these reviews involve hundreds of questions that span across stakeholders in the organization and myriad processes and can also require an on-site inspection.
When dozens or hundreds of customers demand SOC reports, an organization can quickly find itself buried by customer accountability issues. It should come as no surprise that the overhead related to these tasks can burn through time, money and other critical resources. What’s more, without the right tools in place, an organization can find itself mired in poor data and subpar results.
A key to success? The ability to achieve efficient and independent validation through a SOC report. Organizations with this essential piece of the puzzle in place can efficiently and effectively respond to customer and prospect questions and build trust and confidence across a business ecosystem.