SOC 2 compliance software: What to look for

SOC 2, which stands for Service Organization Control 2, is a regulation developed by the American Institute of Certified Public Accountants (AICPA) to ensure the security, availability, processing integrity, confidentiality, and privacy of customer data stored in the cloud. It is specifically designed for technology and cloud computing organizations that handle sensitive customer information.

SOC 2 compliance involves a thorough assessment of a company's internal controls and processes related to data security and privacy. This assessment is conducted by an independent third-party auditor who evaluates the company's adherence to the Trust Services Criteria, which are a set of standards for managing customer data securely.

Organizations that achieve SOC 2 compliance demonstrate to their customers and stakeholders that they have implemented effective controls to protect sensitive data. By following SOC 2 regulations, companies can build trust with their customers, enhance their reputation, and ensure the security of their data.

A software as a service (SaaS) company may undergo a SOC 2 audit to demonstrate to their customers that their systems and processes are secure, reliable, and compliant with industry standards. This can help the company build trust with their customers and attract new business by providing assurance that their data will be protected. The company may provide their SOC 2 report to potential customers as evidence of their commitment to security and compliance.

What’s involved with SOC 2 compliance?

1. Questionnaire Generation: Automatically generate tailored questionnaires based on factors such as industry, compliance requirements, and the specific needs of the organization. For example, generating specific questionnaires for different departments within the organization based on their roles and responsibilities.

2. Distribution: Automatically distribute questionnaires to relevant stakeholders, including employees, vendors, and partners, via email or through integrated platforms. For example, sending out questionnaires to third-party vendors to assess their security practices.

3. Reminder and Follow-up: Send automated reminders to participants who have not completed or submitted their security questionnaires within a specified timeframe. For example, sending reminders to employees who have not completed their security awareness training questionnaire.

4. Scoring and Analysis: Utilize AI algorithms to analyze responses, score questionnaire submissions, identify potential risks or gaps, and generate reports highlighting areas that need attention. For example, automatically scoring questionnaire responses based on predefined criteria to identify areas of weakness.

5. Reporting and Documentation: Automatically generate comprehensive reports summarizing questionnaire results, highlighting key findings, and providing recommendations for improvement. For example, generating a report that outlines areas of non-compliance with SOC 2 requirements and suggesting corrective actions.

What to look for in a SOC 2 compliance tool

Look for software that automates repetitive tasks, such as generating questionnaires, distributing them, collecting responses, and sending reminders.

This reduces manual effort and speeds up the process. Software with AI capabilities can recommend answers from a well-maintained content library, validate responses, and analyze risks or gaps. This ensures accuracy and streamlines the review process.

Acquire tools that empower field teams to proactively share up-to-date security and compliance information via profiles or trust centers Integration with your existing tech stack, including CRMs, cloud storage, Microsoft Office, and collaboration tools like Slack or Teams.

A centralized content library or knowledge base that stores accurate, reusable answers helps streamline responses and ensures consistency in addressing compliance requirements.

Opt for software that supports team collaboration with features like task assignments, workload visibility, in-app comments, and e-signature collection. This ensures everyone stays aligned and projects move smoothly.

Detailed reports highlighting key findings, compliance status, and areas for improvement. An audit trail is also essential for regulatory compliance and internal tracking.

Case studies

A lot of the tasks above can be automated with the right software. See how Responsive brings your teams and content together to produce standout responses that seal deals with speed.