What is SOC 2 compliance, anyways?
SOC 2 is a voluntary compliance standard aimed at SaaS companies that store customer data in the cloud. It specifies how an organization should manage customer data. The compliance guidelines set by the AICPA (American Institute of Certified Public Accountants) ensure services are secure, available, and confidential and that information security best practices are in place.
What does this mean for PayEm?
Information security has always been a top priority to ensure the personal and financial information of our customers is protected. However, an official SOC 2 report confirms that our processes and practices meet the globally-recognized security, availability and confidentiality criteria. Additionally, a SOC 2 annual audit also ensures we are continuously monitoring and improving our overall security processes and practices, emphasizing the confidence and reliability you can place in our information security system.
Boosting trust, through compliance
Customers trust us with their finance processes, and our SOC 2 report means that they can place full trust in the security of our spend management platform. It also assures them that their sensitive information is managed with robust security care and that we are committed to five-star security standards. We can show our customers and prospects that they are teaming up with a company that takes security seriously.
So, what comes next?
At PayEm, we understand that we can’t just achieve SOC 2 compliance, but we also need to maintain the compliance. We will undergo a SOC 2 audit on an annual basis, demonstrating our true commitment to information security. We will continuously monitor our compliance, evaluate best practices and update all necessary policies and procedures across our organization. This also means we are dedicated to continuously update and expand our security measures to provide the highest level of protection of our customers’ data.
Keren A. Rosenfeld