SOC 2 Type 2 is becoming increasingly important to businesses in the promotional products industry. But if you’re wondering what it is, what the different types are, and why it’s so important across the industry to the point where some online store platforms are pretending to have it when they don’t, you’re in the right place!
Buckle up! We’re about to take you on a journey toward SOC 2 enlightenment. It’s sure to be glorious.
First up: What is SOC 2?
SOC 2 (System and Organization Controls 2) is a type of audit that measures a company’s internal controls around security, availability, processing integrity, confidentiality, and privacy.
In other words, it’s a way for a company to prove that it’s taking the necessary steps to keep its customers’ data safe and secure.
Why is this so important in the promotional products industry?
Well, let’s think about the order process. When your customer orders a promotional product, they’re likely providing some personal information, such as a name, address, and maybe even credit card information.
If that data were to fall into the wrong hands, it could lead to all sorts of problems, like identity theft, fraud, and more. That’s why it’s crucial for companies in this industry to take data security seriously.
But why is SOC 2 Type 2 specifically important?
There are actually two types of SOC 2 audits: Type 1 and Type 2. Type 1 is a one-time audit that assesses a company’s controls at a specific point in time. Type 2, on the other hand, is an ongoing audit that assesses a company’s controls over a period of time (usually six months to a year).
This is important because it shows that the company’s controls are not only effective at a specific point in time but are consistently effective over time.
So, why is this becoming increasingly important in the promotional products industry?
Well, for one, data breaches are becoming more and more common. In fact, according to a report by RiskBased, the number of records exposed in data breaches increased by 141% from 2019 to 2020. That’s a pretty staggering increase! And it’s not just big companies that are being targeted.
Small businesses are also at risk, and in fact, they may be even more vulnerable since they often have fewer resources to devote to cybersecurity. So, if you’re a business in the promotional products industry, why not take proactive steps to protect your customers’ data? By using an e-commerce platform that has SOC 2 Type 2 certification, you can demonstrate to your customers that you take data security seriously and that you’re doing everything in your power to keep their data safe. And this brings us nicely to our last and final point: Beware of pretenders.
Don’t believe the hype: SOC it to them
As mentioned, SOC 2 Type 2 accreditation is a big deal right now, to the point where some e-Commerce platforms in the promotional products market are pretending to have it when they don’t.
Trusting this misinformation doesn’t just put your data as a business at risk, it can put your customer data at risk too. But if you’re trying to figure out who can be trusted, you can put your truth serum away! All it takes is a single question: Can I see your SOC 2 Type 2 report?
They may present you with Google’s or Amazon’s if they’re using their servers or services; run in the opposite direction if that’s the case! Any company that doesn’t know the difference between its certification and that of a third party doesn’t bode well for your data security.
Why? Because achieving SOC 2 Type 2 accreditation isn’t just months of hard work to finally gain approval from a third-party auditor, it’s an ongoing process. It’s a love letter to businesses in the industry that shows them they’re at the heart of your service. That’s why Brikl is proud to be one of the only e-Commerce company in the promotional products industry that has SOC 2 Type 2 certification.
Don’t fall for the hype. If you’re considering another platform to set up your online stores, SOC it to them and ask to see their SOC 2 Type 2 report; your business and customers will thank you for it!
But if you want to skip the uncertainty, book your demo with Brikl today. Like what you’ve read here? You’re too kind. Really. Check out our other blogs in the SOC 2 series and beyond. Your brain will thank you for it (and so will we).