We are thrilled to announce that Signify has achieved SOC 2 Type 2 compliance! This milestone represents a significant step in our commitment to data security, privacy, and operational excellence. Here is what SOC 2 Type 2 compliance means to us, why it's important, and how it benefits our valued customers.

What is SOC 2 Type 2 Compliance?

SOC 2 (Service Organization Control 2) is a widely recognized auditing procedure developed by the American Institute of Certified Public Accountants (AICPA). It's designed to ensure that service providers securely manage data to protect their clients' interests and privacy.

There are two types of SOC 2 reports:

1. SOC 2 Type 1: This evaluates the design of security processes at a specific point in time.

2. SOC 2 Type 2: This report assesses the effectiveness of those controls over time by observing operations for at least six months.

By achieving SOC 2 Type 2 compliance, we've demonstrated not just that we have the proper security measures in place but that these measures are working effectively over an extended period.

The Five Trust Service Criteria

SOC 2 compliance is based on five Trust Service Criteria:

1. Security: Information and systems are protected against unauthorized access, unauthorized disclosure of information, and damage to systems.

2. Availability: Information and systems are available for operation and use to meet the entity's objectives.

3. Processing Integrity: System processing is complete, valid, accurate, timely, and authorized.

4. Confidentiality: Information designated as confidential is protected as committed or agreed.

5. Privacy: Personal information is collected, used, retained, disclosed, and disposed of in conformity with commitments in the entity's privacy notice and with criteria set forth in Generally Accepted Privacy Principles (GAPP).

   
   

Why SOC 2 Type 2 Compliance Matters

Data security and privacy are more important in today's digital landscape than ever. Businesses and consumers are increasingly aware of the risks associated with data breaches and unauthorized access to sensitive information. SOC 2 Type 2 compliance matters for several reasons:

1. Trust and Credibility: It demonstrates our commitment to protecting our customers' data and building trust and credibility in our services.

2. Risk Management: The compliance process helps us proactively identify and address potential security risks.

3. Competitive Advantage: Many clients, especially in regulated industries, require their vendors to be SOC 2 compliant.

4. Operational Excellence: The rigorous audit process often improves internal processes and controls.

5. Legal and Regulatory Compliance: SOC 2 compliance can help meet regulatory requirements, such as GDPR, HIPAA, or CCPA.

The SOC 2 Type 2 Compliance Journey

Achieving SOC 2 Type 2 compliance is no small feat. It required a significant investment of time, resources, and effort from our entire team. Here's a brief overview of our journey:

1. Preparation: We conducted a thorough gap analysis to identify areas where our existing processes and controls needed improvement.

2. Implementation: We enhanced our security measures, updated our policies and procedures, and implemented new tools and technologies to meet SOC 2 requirements.

3. Documentation: We meticulously documented all our processes, controls, and policies to ensure transparency and consistency.

4. Employee Training: We conducted comprehensive training sessions to ensure that all team members understood and adhered to our security protocols.

5. Audit Period: We operated under these enhanced controls for at least six months while an independent auditor observed and tested our systems.

6. Final Audit and Report: The auditor thoroughly examined our processes and controls, leading to the final SOC 2 Type 2 report.

How SOC 2 Type 2 Compliance Benefits Our Customers

Our achievement of SOC 2 Type 2 compliance brings numerous benefits to our valued customers:

1. Enhanced Data Protection: You can trust that your data is protected by robust security measures that have been independently verified.

2. Reduced Risk: Our compliance reduces the risk of data breaches and unauthorized access, protecting your business from potential financial and reputational damage.

3. Transparency: The SOC 2 Type 2 report provides clear insights into our security practices, allowing you to make informed decisions about your data.

4. Continuous Improvement: The ongoing nature of SOC 2 Type 2 compliance ensures that we constantly evolve and improve our security measures.

5. Simplified Vendor Management: For many of our customers, our compliance can simplify their own vendor management and compliance processes.

6. Peace of Mind: You can focus on your core business, knowing that your data is in safe hands.

Our Ongoing Commitment

While achieving SOC 2 Type 2 compliance is a significant milestone, we view it as just one step in our ongoing commitment to data security and privacy. We will continue to:

• Regularly review and update our security measures

• Invest in cutting-edge technologies to stay ahead of emerging threats

• Provide regular security training for our team

• Engage in annual SOC 2 audits to maintain our compliance

What's Next?

We're excited about this achievement but not resting on our laurels. Looking ahead, we're exploring additional certifications and compliance standards to strengthen our security posture further and provide even greater value to our customers.

We want to take this opportunity to thank our incredible team for their hard work and dedication in achieving this milestone. We also want to thank our customers for their trust and support throughout this process.

If you have any questions about our SOC 2 Type 2 compliance or would like more information about our security practices, please don't hesitate to contact our team.

Thank you for being a valued part of the Signify community. Together, we're building a more secure digital future!