Portal Is Now SOC 2 Compliant
Portal is now SOC 2 certified, which allows us to deliver the highest level of data security, transparency, and compliance to our customers. Our comprehensive SOC 2 audit was carried out by Insight Assurance LLC, a licensed accounting firm registered with The American Institute of Certified Public Accountants (AICPA).
On average, small and medium-sized businesses lose about $200,000 every year to inadequate data security. As a platform used mainly by small and medium-sized businesses, Portal is committed to guaranteeing data security for our customers and their clients — hence our reason for obtaining SOC 2 certification. Read on to learn how being SOC 2 compliant helps us keep your data safe.
The importance of SOC 2 explained
SOC 2 (Systems and Organization Control) is a security compliance standard for service organizations. It was developed by AICPA, the oldest and largest accounting organization in the United States, having been established in 1887.
SOC 2 spells out the best practices for handling customer data and is based on five trust services criteria:
- Security measures the extent to which information and security systems are protected from unauthorized access and data privacy compromise.
- Availability checks for available information and systems that guarantee data security and privacy.
- Processing integrity means that data processing is accurate, authorized, and timely.
- Confidentiality means that customers’ sensitive data is protected and treated as confidential.
- Privacy means that personal information is collected, used, retained, disclosed, and disposed of to meet the entity’s objectives.
These criteria apply to the infrastructure, procedures, data, people, and software of the organization being evaluated.
Types of SOC 2
There are two types of SOC 2 certifications.
- SOC 2 Type I assesses how your security systems are designed at a specific point in time (that is, short term).
- SOC 2 Type II assesses the effectiveness of your security systems over time, usually over a six-month period (long term). It measures how your system identifies, tracks, and resolves security vulnerabilities.
Portal is SOC 2 Type II certified, which is the more extensive Systems and Organization Controls protocol certification.
What is the benefit of SOC 2 compliance for Portal users?
According to a survey by Ping Identity, 81% of customers would stop engaging with a brand online following a data breach. Data breaches also have a negative impact on a company’s business performance. For example, companies experience an average stock price decline of 5% when they inform customers of a data breach.
SOC 2 certification confirms Portal’s high security standards and guarantees the highest level of data security for you and your customers — minimizing or even eliminating data breaches. The security systems of SOC 2–compliant software protect sensitive data from unauthorized access and third-party compromise. This increases the level of trust that customers have in your business.
Marlon Misra, CEO at Portal Technologies, says, “SOC 2 is the security standard for service providers, and tells our customers that we take security seriously.”
Create even more secure customer experiences with Portal
With Portal, your customers are assured of the highest level of data security and compliance as they engage with your business. To learn more about our security compliance systems, visit Portal’s security center.