Nowadays, businesses focus on security, having large volumes of sensitive data online. The SOC 2 compliance framework involves security controls by the American Institute of CPAs (AICPA) to protect such data from outside threats. SOC 2 compliance is founded on five principles including: 1. Security. 2. Availability. 3. Processing integrity. 4. Confidentiality. 5. Privacy.

By achieving SOC 2 compliance, an organization indicates to its customers and stakeholders that it values their data security. It establishes a process of strict internal controls backed by risk assessments and continuous audits that help to minimize the likelihood of such future vulnerabilities while raising the competitive stature of the organization.

Understanding SOC 2 compliance means understanding critical security elements. Among these would be unauthorized access, system failure, and cyber-crime. It is even more critical for sectors like fund management, healthcare, and SaaS.

Understanding compliance with SOC 2 means understanding critical security elements. Among these would be unauthorized access, system failure, and cyber-crime. It is even more critical for sectors like fund management, healthcare, and SaaS.

Moreover, SOC 2 compliance provides a lifeboat for supplier management since all the partners will have to comply with certain measures in order to become part of it. Most businesses require their vendors to be SOC 2 certified and thereby improving their credibility in front of the client when it comes to follow regulatory and legal requirements on taking care of information.