What is SOC and why is it so important?
In today’s digitally dominated world, ensuring your business-critical data is secure has never been more important. Find out why working with a SOC2 certified provider goes a long way to assure that your services, processes and systems in place are running efficiently.
Data is king in today’s digitally dominated economy. Whether it is utilised for supply chain, marketing or gaining crucial customer insight, businesses would simply not be able to operate without data. Whilst we have become so reliant on the successful application and storage of mission-critical data, ensuring your data is secure and protected is equally as important.
However, as businesses grow and operate across different industries and regions, their modes of data protection naturally have to shift to meet ever-changing regulations. In an industry with no single set of best practices, this can cause issues as organisations change operation models to meet new demands. In light of having no single regulatory body, such as the Financial Conduct Authority to manage modes of best practice, businesses turn to accreditations to guide them through.
Why do we need security accreditations?
Accreditations provide customers, regulators and employees with a vital snapshot into the day-to-day running of certain services and aspects of a business. Accreditations will often be used to indicate:
- Industry requirements: While there is often no single authoritative board, accreditations and certifications set industry-wide best practices for organisations to follow.
- Industry practices: Certifications and accreditations provided by various organisations are often categorised by individual elements of a product or service; this will often include security, performance and day-to-day operations. Separating accreditations by sector allows the customer to understand the measures in place to protect them and their data.
What is SOC2?
SOC2 is one of the most important and common security accreditations. Utilised widely across the USA, SOC2 is a certification that assesses the extent to which a vendor complies with one or more of the five trust principles based on the systems and processes in play in an organisation.
An organisation will be assessed on the following criteria:
- Security: This refers to the protection of information and systems from unauthorised access. This may be achieved through a range of IT security measures such as firewalls, two-factor authentication and spam filters.
- Availability: This assesses whether said infrastructure, software or information is maintained and has controls for monitoring and maintenance. This section further outlines whether an organisation mitigates against any potential threats to them and their customers.
- Processing integrity: This section analyses key services based on their performance (in line with the defined goals) and they are free of errors or issues. This ensures that the data processing services are complete and do not interfere with stored data.
- Confidentiality: This section refers to a company’s ability to protect data that should be restricted only to a defined group of people. This refers to both company and customer data.
- Privacy: This outlines criteria that speak to an organisation’s ability to safeguard personal data from unauthorised access.
What are the benefits of working with a SOC2 certified provider?
Aside from providing your business with confidence that its operations are secure, working with a SOC2 certified provider goes a long way to assure that your services, processes and systems in place are running efficiently. Other benefits also include:
- Your business can state it is operating in line with a set code of best practices
- Your company has the tools in place to recognize and mitigate any relevant threats
- Working with a SOC2 certified provider sets you apart from the competition when pursuing clients of your own who require a secure service
- A certified SOC2 provider helps to keep your brand reputation intact by helping you prevent critical data breaches
Hyve is SOC certified
We are committed to high levels of compliance across all areas of operations. Our industry-specific accreditations ensure that security and data are at the forefront of everything we do.
“Having SOC accreditations not only provides evidence that Hyve invests in the correct security measures but it most importantly shows our customers we are proactive in protecting their business-critical data” – Firuz Sayyah, Compliance Officer at Hyve Managed Hosting.
To further show our commitment to information security, we are proud to say Hyve is SOC 1,2 & 3 certified. What does it mean to be SOC 1&3 certified?
- SOC1: SOC1 reports cover the business objectives and IT controls that address the risks of users related to the use of your service.
- SOC3: A SOC3 report attests that an organisation has been found to comply with the required SOC2 criteria outlined by a relevant certified accreditor.
To discover the multitude of other accreditations we actively meet, you can visit our compliance and accreditations page.
- Reshaping the future of remote work
- Over 1/3 of UK consumers wouldn’t wait longer than 30 seconds on an unresponsive website before switching to a competitor
- High Availability vs Disaster Recovery: What’s the Difference?
- 5 ways to ensure the reliability of your IT infrastructure
- Exec Q&A with Jake Madders of Hyve Managed Hosting