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We’re excited to announce that PayEm is SOC 1 Type 2 compliant, and we’re committed to providing our customers the highest standard of financial data security.
From day one, PayEm places a high priority on the security of our customers' data. We are continuously taking steps to ensure the security, integrity, and confidentiality of our customers' data so customers can feel confident that their data is being handled in a safe and secure manner.
Why SOC 1 Type II compliance matters
A SOC 1 Type II audit is important because it helps organizations maintain strong internal controls and comply with industry standards and regulatory requirements. Our SOC 1 audit addressed our internal controls around all financial reporting and ensures that all financial information we transfer, store and manage is done securely. Our SOC 1 Type II compliance means that our internal controls are designed correctly, as well as operating effectively, in accordance with the American Institute of Certified Public Accountants (AICPA) requirements.
Wondering what was audited?
The SOC 1 Type II attestation involves two phases of testing. The first phase is a review of our organization's control environment, which includes our policies, procedures, and practices. The second phase is a testing of the effectiveness of these controls over a period of time.
Below are the controls that were audited for this attestation:
- Vendor Budget Management
- Card Management
- Reimbursements
- Fund Requests
- Purchase Orders
- Accounting Integration
- Bill Payments
PayEm’s SOC 1 report provides assurance to customers that their financial information is being managed responsibly with the appropriate levels of security and accuracy. Customers can rest assured knowing that their financial information is managed responsibly and that we are dedicated to protecting our customers’ data, to continuously improving our security measures, and to make ongoing improvements.
Our SOC 1 compliance automation partner
Scytale's SOC 1 expertise and automation technology helped take our compliance process to the next level, allowing us to streamline all the audit requirements in their platform, automate our evidence collection, manage all of our tasks in one place, and much more.
