🎉 Celebrating a Major Milestone: Completing Our Type 1 SOC 2 Examination! 🎉
As a company that deeply values the trust of our partners and customers, we are thrilled to announce that we have successfully completed our Type 1 SOC 2 examination as of March 31, 2023, in the security category. The examination was conducted by Schellman & Company, LLC and concluded in an unqualified (clean) opinion.
This is a major milestone for us, and it's a testament to the hard work and dedication of our team. Two partners were instrumental in our success: Carbide and Schellman. At different stages of our journey, they guided us through the process and clearly articulated what was expected from us. Their people, processes and technologies really set us down the right path.
What does this mean for you, our partners, and customers?
SOC 2 is a rigorous process developed by the American Institute of Certified Public Accountants (AICPA). It focuses on verifying a service organization's controls related to security, availability, processing integrity, confidentiality, and privacy. By successfully passing this examination, we've demonstrated that we have mature processes and robust systems in place to handle and protect partner and customer data securely.
What was our journey and experience?
The SOC 2 examination was an enlightening journey. We partnered with Carbide in the early stages to get a good understanding of the organizational controls, frameworks and policies that we needed to put in place.
Once we completed this critical step, we started a readiness review, where we worked with Schellman to scrutinize our risk assessment framework, tech stack, and data flows. They provided valuable insight and guidance that helped us ensure we were following best-practices across all key areas.
Following this, we moved into the planning and preparation phase. This required our team compiling comprehensive evidence to demonstrate that our policies and procedures are sound and effectively support the implementation of necessary controls.
Armed with all this information, Schellman conducted the required fieldwork, and shortly after shared with us the full report showing an unqualified (clean) opinion. We are ecstatic about the result, and thankful for the discipline and rigor that Schellman had brought to the process, which had certainly helped us achieve this level of success.
What comes next?
We believe transparency breeds trust. And in our business, trust is not a bonus; it's a necessity. By completing our Type 1 SOC 2 examination, we hope to underscore our commitment to keep your data safe and our systems secure.
We aren't stopping here, though! We're already working towards our Type 2 SOC 2 for the period April to September 2023, further reinforcing our commitment to data security.
Our journey with the SOC 2 examination has made us a stronger, more secure company. To all our partners and customers – thank you for your trust and for being with us on this journey.
