Threats to data security remain a real problem for many businesses. This is especially true for those who store their clients’ data in a cloud-based server. Hence, this is why SyncMonkey has been hard at work getting SOC2 certified, so that we can provide that secure peace of mind for our users.

According to PwC, 72% of companies are looking to strengthen their cybersecurity without increasing cost. For many, SOC 2 compliance might just be what they need to tighten their security at a minimal cost. While SOC 2 standards might not be part of any law or regulation, it proves to be essential, especially if you are handling sensitive customer data.
With that, here is everything you need to know on how to be SOC 2 compliant.

What is SOC 2?

SOC 2 is an auditing framework developed by the American Institute of CPAs (AICPA). It helps companies demonstrate their security level when it comes to protecting their clients’ data in their cloud servers. SOC stands for “Service Organization Control,” while the number 2 relates to their cloud-based servers where they store client information.

There are two types of SOC 2. Type 1 evaluates whether your system meets the trust service principles. Meanwhile, Type 2 assesses if your current system remains effective in the long run. To put it simply, SOC 2 is a technical certification that external auditors award to those with secure data management processes.

Who needs to get certified?

SOC 2 isn’t mandatory for businesses. It is entirely up to you if you want to get certified or not. However, if you are a B2B and SaaS business, you should consider getting certified. Most vendor contracts require you to be SOC 2 compliant before you can establish a partnership.

What are the principles of SOC 2?

There are five trust service principles that make up the SOC 2 compliance template. This will be the basis of your data security evaluation, as highlighted by the AICPA. This includes:
Security: This refers to your data’s safeguard and protection against malicious and unauthorized access. It is your security’s ability to prevent information theft, system abuse, software misuse, and other unwanted damages to your system.

Availability: This evaluates how accessible your data, services, or products are for operation and use. This is usually codified in a service level agreement (SLA).

Processing integrity: This relates to how well your system can process and produce data as intended. It checks the accuracy and timeliness of your data system.

Confidentiality: This ensures that only authorized entities have access to your data. Many companies encrypt their data to ensure confidentiality during transmission as well as firewalls and other internal or external access controls.

Privacy: This refers to personal client information that you record and store within your system. These are identifiable information such as client names, address, Social Security numbers, race, sexual orientation, and religion.

How to prepare for an audit?

Preparation is the key to a successful audit. You must do your due diligence first before you decide to push through with it. For one, you need to gather all compliance documentation and have them in one place. You can categorize them depending on the five trust principles you are auditing for. In fact, you can use SyncMonkey to declutter unnecessary data in your system to make it easier for you to manage and organize your documents.

You can create a SOC 2 compliance checklist to help you assess your data system’s readiness. It should include:

• Monitoring server for any malicious or suspicious activities
• Determine “normal” user activities in your system
• Establish parameters when tracking server configuration changes

Learn More About SyncMonkey’s SOC2 Certification

As companies strive towards digital transformation, cybersecurity remains the top priority for all businesses, especially here at SyncMonkey. Learn more on SyncMonkey’s SOC2 certification and other security features here: MSP Security – SyncMonkey.

Talk to an expert about security with SyncMonkey.