Glossary

What does SOC stand for?

Who needs SOC Compliance?

SOC compliance is designed to prove to the customers of a service provider that the company can provide the services it is contracted to provide. Customers do not have visibility into a company’s systems and IT environments. Additionally, most customers do not know how to evaluate a company’s security policies in order to determine if their data is safe with the company.

A SOC audit performed by a third-party validates that the service provider’s systems and controls meet the requirements necessary to keep a customer’s data secure.

Are there different levels of SOC compliance?

There are several levels of SOC compliance.

1. SOC 1: SOC 1 is focused primarily on controls that affect a customer’s financial reporting.
2. SOC 2: primarily for cloud service providers, SOC 2 focuses on controls in place for security, confidentiality, and privacy.
3. SOC 3: SOC 3 provides the same information as SOC 2, but summarizes the information at a higher level than SOC 2 so it is easier to understand.