In today’s era technology is changing dynamically with great pace. Most organizations are looking forward to reduce their workload by opting their day-to-day applications to be in cloud which is well known as “Software-as-a-Service” (SaaS) model.

As SaaS is playing a crucial role in helping organizations to focus on their core business rather than focusing on developing, implementing and managing required infrastructure for their day-to-day business application usage on other hand it is becoming challenging and questionable for them on how to trust SaaS providers about their business data being processed and stored out of their environments.

With that said being a key player in today’s SaaS model you need to gain trust within the market and if organizations do trust you, you can become the go-to SaaS provider in your sector for all companies, from small, medium businesses up to enterprise sector.

It will significantly increase your potential in market and will boost up your business by attracting and adding more customer base.

The advantage of these certifications can be that being a SaaS provider you can avoid customers who have Vendor audit requirements from performing regular audits with you as they can use carve out methodology to rely on your SOC reports or ISO 27001 certification.

What’s SOC?

SOC 2 Is All About Trust

SOC 2 was set up to define the criteria for how external SaaS companies should manage their customers’ data. It uses 5 Trust Principles set out by the AICPA so companies know whether the SaaS can be trusted. An independent third party audits the SaaS provider and generates a report for the SaaS, showing they do what they say. The 5 Trust Principles are:

1. Security: The system is protected against unauthorized access.

2. Availability: The system is available for operation and use as committed or agreed.

3. Processing Integrity: System processing is complete, 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 destroyed in conformity with the commitments in the entity’s privacy notice and with criteria set forth in Generally Accepted Privacy Principles issued by the AICPA and CICA (Canadian Institute of Chartered Accountants).

What’s ISO 27001?