If you are reading this, chances are someone (either a customer or a prospect) has asked you about having a SOC report. You probably said that you would check with the IT department and let them know. By now, you realize the report they are referring to is a third-party audit report that evaluates your company’s controls and procedures – sort of like a report card that lets your customer know if it’s safe to use your services.
If you don’t have a SOC report, sometimes you can negotiate your way out of it, but chances are this won’t be the last time you get this kind of request. And, many times without it, you can’t close a sale. That being said, there are probably many future customers you also might not be able to close until you get a SOC report in place. While obtaining a SOC report is not necessarily a simple thing to accomplish the first time around, once it’s complete and updated annually, you generally won’t have to worry about it. Eventually it will become one less thing to deal with as part of the overall the sales process.
Most of our clients consist of technology companies, selling to financial services organizations and healthcare information companies. Because of the scrutiny that companies in these industries face, all parties along the value chain are required to take precautions when they share customer information or other sensitive data with third-parties. If you are one of those companies, a SOC report is useful in that it shows users that you have the right controls in place and also provides them with the information they need to evaluate you as a business partner.
PKM has assisted dozens of organizations with the undertaking of their initial SOC audit. We have developed tools and processes to determine your readiness and provide guidance on closing any gaps between where you are and where we think you need to be. We can get you ready efficiently and with minimal hassle on your part.
Let’s talk about where your company is now and how to get it to where you need be.
For more information or to schedule a consultation, please contact Terry Ammons or call 404.420.5679.