Capitaliz, the leading provider of exit planning and value acceleration software, is pleased to announce the successful renewal completion of its System and Organization Controls (SOC) 2 audit, achieving compliance with the leading industry standards for trust services and customer data security. Renewing this certification underscores our ongoing commitment to providing a secure data environment for our customers.
Developed by the American Institute of Certified Public Accountants (AICPA), the SOC 2 information security standard validates controls relevant to security, availability, integrity, confidentiality, and privacy. Achieving this certification not only confirms our rigorous practices but also enhances our capability to safeguard sensitive information.
From the outset, Capitaliz has prioritized the protection of our customers’ data. Our journey to renew and extend our SOC 2 Type II certification involved collaboration, practicality, and innovation, and we’re eager to share the valuable insights we’ve gained along the way.
Start Early and Agile
It’s easy to postpone certification until your organization has grown large enough that enterprise clients demand it. However, as you expand, the complexity of implementing changes increases dramatically.
It is important to us to have engaged in this process early to allow for smoother transitions as more stakeholders become involved, and check for all potential issues to address them proactively.
Involve the Entire Team
Having a secure infrastructure means little if your staff lacks proper access controls. A SOC 2 audit often encompasses the entire organization, not just the tech department. This necessitates a collective effort to adopt new practices and reinforce security awareness. Communicating the reasons behind these changes to all employees is crucial, allowing for input and fostering a culture of security from the ground up.
Embrace Transparency
At Capitaliz, we value transparency in every stage of our operations. We aim to foster strong relationships between all employees, including our security team. This meant engaging deeply with our trusted auditors from Johanson Group LLP, a premier certification body specializing in SOC 2 audits. Their insights guided us in making informed decisions about our security measures, policies, procedures, and infrastructure, ultimately leading to our successful certification.
DIY with Expert Guidance
While the SOC 2 certification process involves a set of well-defined policies, it’s tempting to outsource this responsibility. However, it was important to us to involve our existing team to identify and implement lasting changes as we sought renewal. Working closely with Johanson Group allowed us to establish a solid foundation while consulting on more nuanced requirements. Their timely guidance was invaluable in navigating the certification and renewal process.
Integrate and Streamline
Compliance is often viewed as a hindrance, but it can be seamlessly integrated into existing workflows.
By understanding the foundational principles of SOC 2, we tailored our approach to fit within our daily operations. For example, we handle access requests through a dedicated communication channel, and security policies are documented alongside other organizational knowledge. Automation tools help us manage recurring security tasks efficiently, ensuring we stay on track with our commitments.
Collaborate with Your Auditor
By engaging with our auditors early, we clarified essential aspects of our compliance approach, which ultimately lowered the risk of setbacks. Our partnership with Johanson Group provided the guidance needed to navigate this complex terrain effectively.
Conclusion
The journey to achieve SOC 2 Type II certification required a significant investment of time and resources, but it has strengthened our organization and reduced operational risks. Our renewed certification guarantees that we have established and implemented organizational practices to safeguard customer data, a core commitment for Capitaliz as we serve a broad range of professional advisors.
Looking ahead, we are now entering the observation phase for our SOC 2 Type II extension renewal and are excited about further enhancing our security measures alongside our clients. Capitaliz remains steadfast in its dedication to maintaining secure systems and controls, ensuring the integrity of user identity management as we grow.
As our objective is always to improve our security, please don’t hesitate to contact us with any questions related to our security measures.
