Why is SOC 2 Important?

What is SOC 2, and why is SOC 2 important? Keep your customer data safe and secure.

Security breaches due to poor cybersecurity posture can cost upwards of $4.45 million, according to IBM’s annual cost of data breach report from 2023. Customer data needs to be protected from unauthorized access and theft. SOC II audits don’t just keep your data safe; they also give your company a competitive advantage – that’s why GPS Insight is SOC II certified.  

We protect our customers’ sensitive data with various security controls that meet the SOC II compliance checklist, meeting their high standards for security posture. While you’re busy managing your fleet, we keep your private information safe and secure, so you don’t have to worry about a breach. 

What is SOC II?

Service Organization Control Type 2 (SOC II) is a type of cybersecurity that complies with a specific framework developed by the American Institute of Certified Public Accountants (AICPA). SOC II compliance ensures the highest standard for information security for service providers across the globe.  

SOC II audits report on a company’s data security to see if it meets the compliance framework with the established SOC II principles. SOC reports include SOC 1, SOC 2, and SOC 3, though SOC 2 is the standard.  

SOC II is all about meeting common criteria for protecting sensitive information and data processing. GPS Insight provides high-level data protection through our security practices and security measures.

The Unique SOC II Framework

So, what’s so special about this framework? 

Cybersecurity frameworks lay down the best practices for companies to follow to improve their security. Security frameworks typically include predefined protocols, and all companies using them must follow their established guidelines for a specified period of time.  

But SOC II framework uses criteria to uphold high standards of data security through principles, not protocols. With SOC II, the framework is designed to adjust in conjunction with the company. Every individual operating model will have their own security and data protection protocols.  

To meet SOC II compliance, those protocols need to fall under the five trust service principles: security, confidentiality, availability, privacy, and processing integrity.

The Principles of SOC II

• Security – Protecting data and systems from unauthorized access using access controls such as multi-factor authentication, strong firewalls, or another identification system. 
• Confidentiality – Protecting confidential data by making sure it’s encrypted and limiting its access, storage, and use to the bare minimum needed. 
• Availability – Ensuring system functionality by requiring organizations to invest in network monitoring systems with disaster recovery plans. 
• Privacy – All personally identifiable information must be safeguarded from unauthorized use by complying with the company’s data usage and privacy policy, alongside AICPA conditions. 
• Processing Integrity – All systems must meet quality assurance and performance, without any delays, vulnerabilities, errors, or other bugs, and operate as intended. 

The Goals of SOC II Compliance

The goal of SOC II compliance is to confirm that a company can store and process customer data securely. This is done via SOC II audits. When a company passes an audit, it proves that its customers’ data and information is safe and secure. 

A SOC II certified provider is an attestation to their high-level security due to their risk assessment, risk management, and ability to securely store customer data.

The Benefits of SOC II Certification

SOC II compliance allows us to work with customers who require it and assures these customers that we meet all the trust service principles needed. Achieving SOC II compliance increases brand reputation and will give you and your clients confidence regarding the security of their data. 

• Improve overall security outlook 

• Customer confidence with the company 

• Overlap with other frameworks, like ISO 27001 and HIPAA 

• Increase brand reputation as a security-conscious company 

• Help avoid data breaches and the damage that comes with them 

When a company is SOC II certified, it means it’s a company you can trust. GPS Insight can address your challenges with our top-tier tracking solution, while also making sure your data is safe and secure. With over 100 internal controls in place, GPS Insight protects client data by meeting all five trust services criteria with high-level data security protocols, ensuring the only ones with access to client-sensitive info are you and your guys.