Fast-growing companies live and die by their ability to attract customers.
If you want to sell to enterprise clients and move upmarket, you'll need to become compliant with SOC 2.
But the process of achieving compliance can be a major roadblock for small companies that don’t have resources to spare.
Preparing for and completing a SOC 2 audit can be expensive and time-consuming. It can take tens of thousands of dollars and months of your team’s precious time.
This is where compliance automation tools can be a lifesaver for companies that need a SOC 2 report more efficiently and cost-effectively. All while maintaining ironclad security standards.
What is a compliance solution, and is it a good investment for your company?
What is Automated Compliance?
SOC 2 automation software streamlines the compliance process. It cuts down the hundreds of hours of manual work needed to prepare for and complete an audit.
Normally, you'd need to update spreadsheets and grab screenshots to use as evidence during your audit. Compliance software integrates with your existing tech stack to pull that information for you.
Here are some other compelling benefits of SOC 2 software:
More time and cost-efficient
Most startups don’t have a dedicated compliance team. Tech ICs, CTOs, and CEOs are left to implement and update security controls, complete time-consuming security questionnaires, maintain heaps of documentation, and tackle audit preparation. All of this busy work means less time for other high-priority, revenue-generating tasks.
Saves time spent on policy creation
Instead of writing all of your own policies from scratch, most SOC 2 automation platforms offer a library of auditor-approved policy templates that you can customize for your needs.
Spots gaps in your system configurations and internal controls
Secureframe goes beyond audit prep to help you implement best-in-class security practices. Our compliance experts offer advice based on your unique systems and business needs. And they’ll be able to identify gaps in your system and controls to keep your entire security program running smoothly.
Streamlines the audit process for you and your auditor
Software solutions streamline the process of collecting and transferring evidence to your auditor. It saves you both from the back-and-forth of asking for additional evidence or manually re-testing controls. Secureframe has established relationships with highly regarded auditors. It all means faster audits with fewer headaches for everyone involved.
Makes it easier to maintain compliance
Secureframe can automatically collect evidence for your annual audit. Our software continuously monitors your tech stack to alert you of threats or non-conformities. You'll be able to fix issues quickly and proactively instead of always putting out fires.
Simplifies compliance across multiple frameworks
SOC 2 and ISO 27001 have a lot of overlapping requirements — approximately 80% according to AICPA criteria mapping. And both can be essential security frameworks for growing companies looking to expand internationally.
Instead of starting from scratch, compliance software can help map what you’ve already done for SOC 2 to other frameworks. It'll be faster and easier to achieve additional certifications and avoid duplicated efforts.
SOC 2 automation can be incredibly useful for streamlining the compliance process. But it’s important to avoid becoming overly dependent on a tool.
Your company stakeholders must continue to own audit scope, risk analysis, and understanding how your internal controls are implemented. Use the software to automate tedious and time-consuming tasks like evidence collection, threat notifications, and vendor management.
Who Needs Compliance Automation Software?
Compliance management tools can be an essential part of your tech stack. Especially for startups that have achieved product-market fit and are ready to scale quickly.
So how do you know it’s time to look for a vendor?
If the following applies to your organization, a compliance automation tool probably makes sense for your needs:
- Your company is (or customers are) in the healthcare, finance, retail, or other industries where compliance is required
- Your target customers include enterprise brands in the US
- Prospects are asking whether your organization has a SOC 2 report
Tips for Choosing a Compliance Software Solution
The regulatory compliance software landscape is a fast-growing space. There is an increasing number of vendors to choose from.
Here are a few questions to ask during the evaluation process to help you determine which software is the best fit for you:
- Are your chosen security frameworks supported? Be sure to consider any you may need as your company scales.
- Is the number and depth of integrations enough to save your team from excess work?
- What is the level of customer support? What channels are available to receive support? Does that support extend through the audit itself?
- What is the vendor’s relationship with the auditor?
- What type of audit scope is included in the pricing package? Look for clear, transparent pricing and packages. You want to know exactly what you’re paying for without hidden costs.
Key Features of Compliance Automation Software
Automated Evidence Collection
Eliminating tedious, manual tasks is one of the core advantages of SOC 2 automation software. The solution you choose should automatically collect evidence to simplify your audit. Look for a solution that offers a wide range of integrations for the greatest benefit.
Choose a tool that helps you manage all of your vendor agreements and security certifications in one spot. It will simplify how you manage vendor risk.
Building a set of internal security policies can be immensely time-consuming. Several SOC 2 automation tools offer a library of templated policies that are approved by a team of auditors. It'll be much easier and faster to build out your policies and ensure they’re compliant with SOC 2.
Employee Onboarding and Offboarding
Educating your team on security policies and systems is an essential part of SOC 2 compliance. SOC 2 software can verify that every member of your team completes security training and policy reviews. And when it comes time to revoke access for former employees, the software can make that easy, too.
Choose a tool that sends real-time alerts for issues that could threaten your compliance. Tools like Secureframe will even provide detailed guidance for correcting each issue. You won’t have to second guess whether you’ve fixed it.
Expert, End-to-End Support
Look for solutions that have a team of experienced ex-auditors on staff. At Secureframe, our team will help you prepare for an audit and be with you throughout the audit itself.
SOC 2 auditors will have follow-up questions no matter how well prepared you are. Having a team of compliance experts by your side can help you field questions and evidence requests. And give you tailored security advice based on years of experience with best practices.