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If your company provides any kind of cloud service, you’ve probably heard the question from a potential customer: “Are you SOC 2 compliant?”

But what is a SOC 2 report, and why has it become a lynchpin for B2B trust?

In simple terms, a SOC 2 report is the end result of an independent audit that examines how a company handles customer data. It’s not a “one-and-done” certificate; it’s a detailed report, prepared by a certified auditor, that affirms a company’s security controls are in place and operating effectively.

The 5 Trust Services Criteria

A SOC 2 audit is built around five principles. The “Security” principle is the foundation for all reports, but a company can choose to be audited against the other four:

1. Security (Required): Are systems protected against unauthorized access?
2. Availability: Is the system available for use as promised?
3. Processing Integrity: Is system processing complete, valid, accurate, and timely?
4. Confidentiality: Is information designated as “confidential” protected?
5. Privacy: Is personal information collected, used, and disposed of in line with the company’s privacy notice?

Why Does SOC 2 Matter?

• For You (as a Vendor): A SOC 2 report is a powerful sales tool. It proactively answers your customers’ security questions, shortens the sales cycle, and separates you from competitors who can’t prove their security posture. It’s the difference between saying you’re secure and proving it.
• For You (as a Customer): When you evaluate a new vendor, asking for their SOC 2 report is a critical part of your due diligence. It gives you an independent, detailed look at their controls, helping you manage your own third-party risk.

Ultimately, SOC 2 is not just a compliance checkbox. It’s a framework for building a strong security culture and a tangible way to demonstrate trust to your customers.

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Collaboration

For business leaders: When you’re evaluating a new software vendor, how much weight do you give to a SOC 2 report?

For security professionals: What’s the biggest misconception you hear about SOC 2?

Sources

• AICPA: SOC 2 – Report on Controls at a Service Organization
• Google Cloud: What is SOC 2 Compliance?
• Vanta: What is SOC 2? The Complete Guide

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