SOC 1 and SOC 2: A Comparative Analysis
Some organizations have heard of SAS 70, SSAE 16, and now SSAE 18, but, haven’t seen the value, other than because one of their customer require it. Truth is, that’s a large part of the value, as many companies will not even think about outsourcing functions to a Company who does not have a clean SOC 1 or SOC 2 Type II Report in place, especially since Vendor Management reviews are now required. Some benefits of having a SOC report in place include: Think of the SSAE-18 audit as an annual investment into your company, increasing potential new clients, productivity and accountability.
