Are you tired of hearing about SOC 2 compliance and not really understanding what the hack it means? (If you understand that joke, you’re 90% there).
Let’s break it down in a way that won’t make you want to fall asleep. And more importantly, let’s tell you why you should care!
- What’s the difference between SOC 2 Type II and Type I compliance?
- Why should you care about one type over the other?
- Why should you care about SOC 2 certifications?
- How Brikl’s SOC 2 Type II attestation could be important for your company.
What's the difference between SOC 2 Type II and Type I compliance?
First, let’s talk about the types of SOC 2 compliance: Type 1 and Type 2. Think of it like getting a report card in school. Type 1 is a bit like grading your homework yourself. It’s a one-off, checkbox exercise performed by the company itself without an auditor present. It can be done in just 1-3 weeks and is an inexpensive way of giving yourself a pat on the back.
Type 2, on the other hand, is like getting graded by the strictest teacher in the school. They’re looking at what you’ve learned and how well you’ve retained the information and applied it throughout the year. For Brikl, this ‘grading process’ was an implementation with a dedicated team that took eight months and had a six figure price tag attached.
Type 1 compliance, or “systems assessment,” is all about the design of a company’s controls and processes related to security, availability, processing integrity, confidentiality, and privacy. It’s like getting an A for effort because it shows that a company has the right controls and processes in place, but it doesn’t necessarily mean that they are being used correctly.
Type 2 compliance, or “systems and operational effectiveness assessment,” is the real deal. It’s like getting an A+ because it not only shows that a company has the right controls and processes in place but also that they are being used correctly and effectively over time.
So, why would you choose one type of compliance over the other?
To keep layering the metaphors, consider choosing between a brand-new car and a used one. A brand-new car (Type 1 compliance) might have all the bells and whistles, but it hasn’t been driven yet, and you don’t know how well it will perform.
Type 1 compliance is often considered a “check the box” exercise because it’s a one-time assessment and is usually more cost-effective than Type 2 compliance. Choose a company with this level of compliance, and you’ve just bought a brand-new car with a basic package.
Type 2 compliance, on the other hand, is like buying a car with all the upgrades. It provides a more comprehensive view of a company’s controls and processes and can give customers and other stakeholders greater assurance that a company’s data is being properly protected.
Why should you care about SOC 2 compliance at all?
There’s no “one size fits all” solution when it comes to SOC 2 compliance.
The type of compliance that is right for a particular company will depend on a variety of factors, like the type of data being handled, the size and complexity of the organization, and the level of assurance that is needed
However, it’s become increasingly important for businesses in the promotional products industry to have this certification as more and more customers are becoming aware of the importance of information security. Plus, with the rise of online shopping and e-commerce, the promotional products industry is handling sensitive information more frequently than ever before.
But it’s not just about impressing your customers – SOC 2 Type II compliance can also help you sleep better at night. Knowing that you have the right controls in place to protect your customers’ information can give you peace of mind and help you focus on growing your business.
How does Brikl's Soc 2 Type II certification make it different from any other e-commerce platform in the promotional products market?
Firstly, we’re going to take a small bow: we’re proud to be one of the only e-Commerce platforms in the promotional products industry to have SOC 2 Type 2 attestation – you can download our report here.
And a word of caution when it comes to “bad actors’ in the market: some may claim to have SOC 2 Type 2 compliance. Make sure you SOC it to them by asking them to prove it: ask to see their report. Your data and that of your customers are worth too much to put into the wrong hands.
Brikl’s SOC 2 Type II certification sets it apart from other e-commerce platforms in the promotional products market by demonstrating its commitment to maintaining a high level of security and data protection.
SOC 2 Type II compliance is a rigorous evaluation process that requires a company to prove that its controls and processes related to security, availability, processing integrity, confidentiality, and privacy are not only designed correctly but also operating effectively over a period of time, typically six months.
This means that Brikl’s customers can have confidence in the security and privacy of their sensitive data, such as personal information and payment details, when using the platform. Additionally, the SOC 2 Type II certification also helps to ensure that Brikl‘s systems and processes are regularly tested and evaluated to maintain the highest level of security.
Brikl’s SOC 2 Type II certification also indicates that the company has met the standard of trust service criteria set by the American Institute of Certified Public Accountants (AICPA), which is an independent, professional organization that assures the public and organizations that the firm has maintained a high level of security and data protection.
The wrap-up.
If you’re not asleep by this point, huzzah! We did our job well, and you’re a fully certified SOC 2 compliance expert. (You’re not, please don’t put this on your CV).
It’s important to choose the right type of compliance to suit your company’s needs, so talk to one of the only e-commerce platform with the right credentials today!
