What is SOC I & SOC II?
SOC 1 (System and Organization Controls 1)
Purpose: SOC 1 reports focus on a service organization’s controls that may impact clients’ financial statements. This type of report is particularly relevant for stakeholders such as customers, management, or auditors who need assurance about the control environment related to financial reporting.
SOC 2 (System and Organization Controls 2)
Purpose: SOC 2 reports are designed to address controls at the organization that relate to operations and compliance relevant to one or more of the Trust Services Criteria: Security, Availability, Processing Integrity, Confidentiality, and Privacy.
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ISO 9001:2015
Why SOC I & SOC II for business?
SOC I & SOC II certification adds value to all aspects of business.
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Attract Tender /Contract
The primary reason to attract SOC I & SOC II in any location INDIA and by businesses is to maximize the business opportunity by attracting tenders/contracts.
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Improvement of customer satisfaction
One of the key element in this international standard is to improve customer satisfaction. By improving the satisfaction level customer retention is at higher side, such customers help directly or indirectly in generating more business.
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Increase your credibility and image
By getting your business ISO certified, credibility and image of your brand runs up sharp in the international and domestic market. When a company is looking for supplier or service provider, it is often a requirement to have a clean system in order to consider.
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Improvement of employee satisfaction
The staff is highly satisfied and pumped up once there are clean roles, responsibility and accountability, a well defined show of how the roles of the staff create a impact on quality and overall success. This international standard will help organization frame up a structure that helps staffs morale increase.
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Increased business
Research has proven that ISO certified companies have shown improvements in the area of finance. The ISO certified image attracts more business in both domestic and international market.
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Process Consistency
A well documented system helps in minimizing process related errors. Even a minor change in the process has to be documented and implemented in best possible pattern.