With identity theft and fraud on the rise, companies must pay closer attention to the security of customer and company information. As a result, third-party outsourcing providers are receiving requests from their clients and prospects for an independent review of their internal controls.
To stay relevant in your industry as a trusted service provider it is becoming increasingly important (and at times required) to have a SOC audit performed. There are numerous benefits to having a SOC audit completed annually:
• SOC Reports increase trust and transparency to your internal stakeholders and external customers.
• SOC Reports are becoming a frequent ask by diligent vendor management departments. Having a professionally completed SOC examination will help retain and attract new clients.
• Meet contractual obligations.
• Proactively address risks that your Organization faces.
• Drastically reduce compliance costs incurred when frequently filling out vendor audit questionnaires and/or being audited by your clients or prospects.