Why SOC 2 Compliance is a Must-have for SaaS and AI Companies
Saarthi.ai
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With a staggering 2.29 billion records exposed globally in 2022, and India alone accounting for 20 percent of those breached records, the importance of safeguarding user data has never been more critical.
In this data-driven landscape, businesses, particularly Indian communication AI companies, must prioritize the security of customer information.
One effective way of ensuring the protection of data is by obtaining SOC 2 (System and Organizational Controls 2) certification.
SOC 2 is a voluntary framework that establishes robust information security practices, offering a shield against unauthorized access and vulnerabilities while instilling trust and credibility with customers.
What is SOC 2?
SOC 2, created by the American Institute of Certified Public Accountants (AICPA), is a voluntary framework for compliance that applies to technology service providers and SaaS companies responsible for handling or storing customer data.
It establishes standards to ensure strong information security and safeguards customer data against unauthorized access and vulnerabilities. SOC 2 serves as an impartial third-party systems, demonstrating a company's dedication to the secure handling of customer information.
SOC2 is based on five Trust Criteria Services. These include:
SOC 2 audit reports come in two forms: Type I and Type II, with Type II evaluating controls over an extended period of time
The Complexities Involved in being SOC 2 Certified
Achieving SOC 2 certification is a challenging task that demands a comprehensive approach to data security and compliance.
The certification process is a rigorous undertaking that necessitates cooperation from various departments within an organization.
The certification's rigorous requirements, including meeting specific criteria across multiple domains, complex assessments by independent auditors, resource investment, technical implementations, and ongoing compliance efforts, contribute to its difficulty.
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It demands a comprehensive approach to data security, including measures such as,
Meeting these criteria requires a significant investment of time, resources, and expertize.
Despite the challenges, SOC 2 certification offers significant benefits such as enhanced data security, improved brand reputation, competitive advantage, and increased customer trust. It demonstrates a company's commitment to safeguarding customer data and adhering to industry best practices, making it a valuable pursuit for Indian conversational AI companies.
At Saarthi.ai , our main goal is optimizing not only the customer experience of leading NBFCs and FinTechs, but ensuring their precious data is safeguarded at all costs .
We believe that data platforms should be built on a foundation of trust, which is why security and trust are fundamental aspects of our product architecture.
Achieving SOC 2 certification showcases our commitment to keeping customer data safe and becoming a trusted conversational AI provider in the market.
In the data-driven world, Indian communication and conversational AI companies must prioritize the security and privacy of customer data.
SOC 2 certification serves as proof of a company's commitment to protecting customer information. As the field of AI continues to grow, it becomes crucial to undergo evaluation by a third-party framework to establish trust in products.
By adhering to the SOC 2 framework, these companies can build that trust, enhance their brand reputation, gain a competitive advantage, and assure customers that their data is safe. SOC 2 certification is a crucial step in navigating the evolving landscape of data protection and regulatory compliance.
Vishwa Nath Jha Sangram Sabat (ସଂଗ୍ରାମ ସାବତ) Sameer Kumar Sinha Ankit Dalal Dhiraj Singh Akash Singh Shailja Vats Dipak Mamdapure Karan Purohit Apurva Prakash Rashmi Yogananda Viswanathan R Mokshith Jeevan Jetti Sathesh Abhishek Jha
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1yTrue Saarthi ! Protection of customers data really important for AI companies.SOC 2 is a voluntary framework that establishes robust information security practices, offering a shield against unauthorized access.One effective way of ensuring the protection of data is by obtaining SOC... Great collaboration of words...👍