Outsourcing in on the rise despite increasing cybersecurity breaches. In today’s challenging world of Blockchain, AI, IOT, and Cloud, you need to be a step ahead of your competitors. Think of the SOC report as your company’s “Security Best Practices”. You need to demonstrate a level of confidence that your organization can handle your clients’ most confidential and valuable information, have the procedures and controls in place to provide the required assurance.
Data Security & Privacy are increasing concerns for many organizations. This is especially important in cases where data is regulated and/or sensitive as in case of compliance requirements for HIPAA, PCI, GLBA, EU-GDPR etc. Cloud environments are adding to the complexity of the issue. Privacy laws are being enforced that lead to heavy fines or penalties.