SOC 2 compliance matters more than ever for companies in tech, whether they’re offering software, cloud services, or processing data. These days, customers aren’t just asking whether you can do the job—they want proof you handle their data securely and you’ve got the right controls in place. So, the big question comes up: do you bring in a SOC 2 compliance provider to help, or do you take it on yourself?
Understanding SOC 2 Compliance
SOC 2 is a framework utilized to assess controls related to the Trust Services Criteria, which encompasses security, availability, processing integrity, confidentiality, and privacy. Organizations make their own decisions about which criteria are applicable to their services and meet their customer expectations.
What Is DIY SOC 2 Compliance?
DIY is when an organization does a majority or all of its compliance preparation in house. Employees may perform the gap assessment, write policies, design controls, gather evidence, and manage the third-party auditor.
The main benefit of this model is control. Because they are more familiar with the organization’s own systems and processes, internal staff may be able to align compliance activities more closely with business reality.
DIY compliance can also save on consulting fees. For those that are staffed with seasoned security, compliance, and IT professionals, conducting the process in-house is not out of the question.
However, reduced external expenses do not always translate into discounted total costs. Employees could be required to devote so much time to coverage activities that they neglect their day-to day-job.
What Does a SOC 2 Compliance Provider Do?
The preparation process can be guided by a professional compliance provider. Services may include readiness assessments, gap analysis, policy development, control implementation, evidence collection, risk management, employee training, and compliance monitoring, depending on the provider.
Some providers also provide compliance management platforms that automate evidence collection and automatically track selected controls. A provider has the benefit of having worked with other organizations and can help you anticipate common compliance gaps that may be an issue during an audit.
Advantages of Working With a SOC 2 Compliance Provider
One of the benefits is knowledge base. SOC 2 standards may be complex, especially if the entity is performing its first audit. A knowledgeable vendor can describe which controls may be applicable and assist the organization in creating a prioritized compliance roadmap.
Another benefit is saving time. Rather than having employees go out and research every single requirement and invent processes on how to meet them, a compliance provider can furnish proven approaches, templates, workflows and guidance.
A SOC 2 compliance provider may also help to improve audit preparedness. Vendors can assist organizations in compiling their evidence and in ensuring that controls are documented uniformly.
For expanding firms in particular, this assistance can be vital as internal teams may already be stretched thin concentrating on product, customer service, engineering, and other business needs.
Advantages of DIY Compliance
In-house compliance may be an option for companies that already have a security and compliance team in place. If employees are already familiar with frameworks, risk management, documentation, and internal controls, the company may already have the in-house know-how.
Customization is another plus. Internal teams can build processes tailored to the specific technology and operational environment of the organization, rather than using generic solutions.
DIY compliance may also allow employees to gain a more profound understanding of the company’s control environment. This may help you to stay in compliance after you have been initially examined.
Comparing the Costs
The price is always a factor. The DIY route could seem less expensive since there are no consulting fees. But internal labor costs real money. Staff can be tied up for weeks or months writing documentation, implementing controls, collecting evidence, and responding to compliance requirements.
A SOC 2 compliance provider is an additional cost outlay but may save on internal time. So businesses should compare total compliance costs, rather than just the fee of the provider. Factor in employee hours, security tools, compliance software, training, remediation work, and potential delays to the audit process.
Which Option Is Better for Your Business?
There is no one-size-fits-all answer. For a small organization with limited compliance experience, the returns from professional support can be huge. A larger organization with an experienced security and compliance team may be able to handle much of the process in-house.
A hybrid approach can also work. The internal team can continue to be responsible for implementing and operating controls, while an external provider helps with readiness assessments, documentation, evidence management, and preparing for the audit.
Conclusion
The decision of whether to go with a SOC 2 compliance provider or to handle compliance in-house comes down to the organization’s resources, level of expertise, and goals. Internal compliance offers more control and can be less expensive in terms of external consulting fees, but it takes a lot of employee time and requires in-depth understanding. Engaging a third-party provider can provide specialized expertise, documented processes, quicker preparation and continuous assistance.
