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‘SOC 2’ acronym stands for “Systems and Organization Controls 2” (SOC 2).
SOC 2 is a Cyber-Security Compliance Framework devised and developed by the American Institute of Certified Public Accountants (AICPA). SOC 2 primarily defines criteria for managing sensitive and critical customer data based on five “trust service principles” —
1. Availability
2. Security
3. Confidentiality
4. Processing Integrity and
5. Privacy.
The primary purpose of the SOC 2 compliance framework is to ensure that 3rd-party service providers store, access, and process critical customer data in a safe and secure manner.
When your company and enterprise achieves and maintains SOC 2 compliance, it proves to your esteemed customers and showcases to the business world that you have top-grade security compliance, and your organization is serious and committed in keeping customer’s sensitive and critical data safe and secure. Becoming SOC 2 compliant and certified also assures your customers that you are totally committed to keeping their vital and sensitive data safe and secure, especially in present day’s ever changing turbulent corporate environment – where every other day the companies are getting deeply affected by many forms of new, impeding, and malicious data-breaches the world over.
To understand why getting SOC 2 compliant and certified is of such high-value and importance for small, medium, and large businesses, all that the local and global companies have to do is look at recent headlines the world over about data-breaches happening. Adobe, Bank of America, eBay, Microsoft, JPMorgan Chase, LinkedIn, Marriott International, Facebook are few of the high-profile companies who have been victim to data breaches and paid hefty price for these data-breaches in the past decade. As per an industry research report, the global average cost of a data breach in 2023 was estimated to be around $5.45 million, a 25% increase over the last 3 years.
Point to reflect for small, medium, and large businesses is that – can your organization afford such high-cost data breaches? No wonder, the world over, businesses are preferring to stay safe and secure from felonious and malicious data-breaches, and are opting for international standards of compliances and certifications – ‘SOC 2’ – being the most preferred amongst many such global compliances and frameworks.
The primary function of a SOC 2 audit is to assess the service organization’s internal controls that governs its pertinent services and critical data. These controls are basically termed as the Trust Services Principles and includes elements like confidentiality, security, processing integrity, privacy, and availability as outlined by the American Institute of Certified Public Accountants (AICPA). The AICPA is a national professional organization based in United States of America that sets globally accepted professional and technical standards, with more than 428,000 members in over 130 countries.
SOC 2 is designed as a framework that helps companies, especially software vendors, to demonstrate the security controls they use and implement to protect critical customer data in the cloud environment. The SOC 2 compliance audit confirms that an organization is adhering and abiding to the globally followed best practices, while securing internally sensitive and critical customer data. Basically SOC audits make an independent assessment of the risks associated with using service organizations and other 3rd party service providers. SOC audits are essential to internal governance, regulatory oversight, vendor management programmes, and management of risks.
As per a recent industry research report, the global average cost of a malicious data breach in 2023 was estimated to be around $5.45 million, a 25% increase over the last 3 years. Adobe, Bank of America, eBay, Microsoft, JPMorgan Chase, LinkedIn, Marriott International, Facebook are few of the high-profile companies who have been victim to such data breaches and paid hefty price in millions of dollars for such malicious data-breaches in the past decade.
The point to reflect for small, medium, and large businesses is that – can your organization afford such high-cost data breaches? No wonder, the world over, businesses are preferring to stay safe and secure from felonious and malicious data-breaches, and are opting for international standards of compliances and certifications – ‘SOC 2’ – being the most preferred amongst many such global compliances and frameworks.
The Advantages and Benefits of SOC 2 audit is that it plays a crucial role in internal governance, safeguards from regulatory oversight, and risk management. The world over SOC 2 audits have come to become an internationally recognized standard for organizations evaluating their
3rd party cloud service vendors. SOC 2 compliance isn’t compulsory for organizations or mandated by law, however that doesn’t mean they are of little value.
Post Covid-19 Pandemic and with ongoing wars across the continents, the world today is witnessing unprecedented times. In such uncertain global economic turmoil and challenging current corporate environment, to ensure sustainable business growth, companies have to keep a track not only on their cost spending, but have to figure out how to make and execute futuristic fail-safe business plans. Thus, in such changing and challenging times, implementing the SOC 2 audits becomes more pertinent and exceedingly necessary and a ‘value-addition’ for companies and enterprises, as it provides a globally identified framework and sets Internationally recognized standards for your organization to ensure ongoing safety, security, quality, sustainability and efficiency.
SOC 2 audits are not just some procedural audit reports to be aware of and then file the reports away in the company’s data repository. SOC 2 audits provide valuable security insights into your company’s governance model, internal controls, domain security posture, and regulatory oversight. When adhered and complied with SOC 2 audits, your company can appropriately use to improve systems functioning and internal operations, mitigate recurring risks, and improve overall compliance readiness.
For small, medium, and large enterprises, SOC 2 internal audits may seem to be less beneficial in the short-term. But in the long run SOC 2 emerges as a wise choice helping your local and global businesses save much more from exorbitant malicious data breach payoffs. As per industry reports and trends on data-breaches in 2021, the average cost of a data breach was estimated to be over $5 million – and with every passing day the cyber criminals have raised the bar with their obnoxious ransom demands.
On a level playing field, SOC 2 audits reveal your organization’s international standing on compliance, reflects on strengths and weaknesses, and timely remedies by helping small, medium, and large enterprises to mitigate the recurring risks – simultaneously enhancing their organization’s safety, security and compliance stance in the business world. In simple terms, in addition to helping your organization prevent malicious security breaches and loss of critical data, SOC 2 audits has huge potential to boost your company’s most-treasured financial bottom-line over the long run.
As per a recent industry research report released, the global average cost of a malicious data breach in 2023 was estimated to be around $5.45 million, comparatively a 25% increase over the last 3 years. Adobe, Bank of America, eBay, Microsoft, JPMorgan Chase, LinkedIn, Marriott International, Facebook are few of the high-profile companies who have been victim to such data breaches and paid hefty price in millions of dollars for such malicious data-breaches in the past decade.
With every passing day as cyber risks keep growing, small, medium, and large businesses only want to join forces with organizations whom they can trust and rely upon in the long run. Thus, companies the world over that are SOC 2 compliant are more likely to be preferred, and are well placed in today’s turbulent business world to cut more lucrative business deals. When your organization demonstrates SOC 2 compliance to the business world, it reassures customers and increases their confidence in your services and helps build long-lasting business relationships.
SOC 1 reports focus exclusively on financial controls, while SOC 2 reports concentrate more extensively on important aspects like availability, confidentiality, processing integrity, privacy, and security. The major difference between a SOC 1 and SOC 2 report lies in its ‘scope’.
The Type 1 report audits and controls at a point in time, as well as, tests the suitability of the design. In comparison, the Type 2 report exclusively focuses on controls placed over a period that tests the suitability of the design and operating effectiveness.
So, at the end of a business day for small, medium, and large enterprises, based locally and globally, choosing between SOC 1 and/or SOC 2, entirely depends on their unique business domain preferences, and on fulfilling their customer’s expectations and specific requirements.
With over two decades of expertise and experience in offering advanced, dynamic, reliable and dependable SOC 2 compliance services, Aadit Technologies has served and secured IT infrastructure, as well as the valuable IT assets and crucial data for hundreds of Indian industries, and companies across the world. Aadit Technologies with its decades of services that are on par with international standards, has saved over $50 million of revenue for our local and global clients through our timely and high-tech threat detection mechanisms that halt malicious data breaches and speeds up the remediation process thereof.
Aadit Technologies SOC team has a collective industry experience and power-packed expertise of over 100 man-years. For our clientele across India and the world, Aadit Technologies has emerged as the “Go-To-Company” to troubleshoot existing and new emerging cyber security threats by securing their valuable IT infrastructure and assets with our time-bound, ultra-modern and cost-effective cyber security solutions.
For our customers, Aadit Technologies has proved to be a catalytic agent and a game-changer in securing our client’s businesses, in turn boosting their finances by protecting their valuable IT infrastructure and assets from the ever-emerging cyber security threats in this new age of disruptive fourth industrial revolution.
What does Aadit’s SOC team do to remediate malicious data breaches?
Aadit’s SOC team has a collective industry experience of over 100 man-years. An expert bunch of expert personnel, Aadit’s SOC team size converges based on the enterprise and industry’s needs providing hi-tech services, advantages, and benefits.
Prevention and Detection:
Aadit’s SOC team knows very well that in the cyber-security domain, pro-active approach towards prevention of malicious cyber-attacks proves to be highly effective than reactive approach. Instead of reactively responding to the threat incident that occurred, Aadit’s SOC team acts as first responders to monitor and troubleshoot data breaches 24/7. This pro-active approach of Aadit’s SOC team enables detection of malicious cyber activities on the IP and cloud network and nullifies them ASAP.
Deep-dive
Aadit’s SOC team while operating in the investigation stage, deep-dives into the investigation analyzing suspicious activities, anomalies, nature of the threat, type of cyber-attack, and the extent of damaging impact on the IT infrastructure, systems, network, and vital data assets.
Before any further collateral damage causes a cascading effect on your business, IT infrastructure and financial health, Aadit’s SOC analysts identify and perform an in-depth triage on the various types of ransomware incidents, by understanding how these malicious attacks occur and transpire. Aadit’s SOC analysts combine their vast domain-expertise, research on the strengths and weaknesses of the network attacked, by conjoining the latest global threat intelligence that aids in revealing the cyber attacker’s nefarious techniques, tools, and trends thereby enabling to perform an effective and robust triage as well as remediation.
24/7 Response:
Post investigation and in-depth forensics study, Aadit’s SOC team coordinates a systematic response to remediate any security or data breach issue. Acting as the first responder and on confirmation of the breach incident, Aadit’s SOC team starts performing actions like isolating endpoints, OS, systems, eliminating harmful processes, preventing them from re-occurring, locking and deleting files, and applying AI & ML enabled security practices. Post any threat incident occurrence, the primary objective of Aadit’s SOC team is to restore operations of systems and assets, as well as, aim to totally recover compromised or lost data, critical to the enterprise’s short term and long term business operations and sustainability.
Aadit Technologies as a Preferred SOC 2 Consulting Services Provider in India, offers services with fair price as per Industry Best Practices, Guidelines, and Regulations. For more details about SOC 2 Compliance and Certification call or Connect with our SOC Experts for a No-Charge Demo: Call: +91 9663445445 or Email at: info@aadit.net
Security as a Service (SECaaS) is a cloud-based security model where security services are delivered over the internet by a third-party provider. Unlike traditional security solutions that require on-premises hardware and software, SECaaS offers scalable and flexible security solutions on a subscription basis. It includes a wide range of security services, such as threat detection, antivirus, firewall, data encryption, identity and access management, and more. SECaaS allows businesses to outsource their security needs, reducing the burden of managing complex security infrastructures and providing the agility to respond to rapidly evolving threats.
Yes, SECaaS is designed to cater to businesses of all sizes, from small startups to large enterprises. Its scalability and flexible subscription-based pricing model make it accessible and cost-effective for organizations with varying security requirements. Small businesses can benefit from SECaaS as it provides enterprise-grade security without the need for substantial upfront investments in hardware and expertise. Similarly, larger organizations can leverage SECaaS to complement their existing security infrastructure and enhance protection across distributed systems and remote locations.
Security as a Service providers employ a multi-layered approach to safeguarding your data and operations. They implement state-of-the-art security technologies, such as advanced threat detection, data encryption, intrusion prevention systems, and secure web gateways, among others. Additionally, SECaaS providers have teams of skilled security professionals who continuously monitor and respond to potential threats in real-time. They stay updated with the latest security trends, ensuring that your organization is protected against emerging threats. With SECaaS, you can have peace of mind knowing that your data and operations are safeguarded by a dedicated and expert security team.