Name: SOC 1
Brand: Strike Graph
Rating: 4.4 (89 reviews)
Author: Strike Graph

The only thing companies worry about more than their data is their money.

That’s why you need proof that you’re responsibly handling data that could affect your client’s financial reporting.

Just take our word for it

Without SOC 1 compliance, you’re asking your customers to risk their financial integrity on your word alone

Prove you can be trusted with SOC 1

A SOC 1 report proves to your customers and prospects that you’ve taken all of the appropriate steps to secure their data.

WHAT IS SOC 1?

Why SOC 1 matters.

SOC 1 (System and organization controls 1) is an audit that evaluates the internal controls of service organizations, focusing on how these controls affect client financial reporting. It's essential for entities like payroll processors, cloud services, and others handling financial data because it proves that the company has maintained a secure and reliable control environment for their clients' financial information.

Strike Graph streamlines SOC 1 compliance with cutting-edge technology.

Automation, AI, and beyond

Put the most innovative security compliance tools at your fingertips. From strategic automation to evolving AI — and whatever comes next — Strike Graph keeps you at the front edge of emerging technologies.

Guaranteed certification

Strike Graph’s AI prediction means you know with 100% certainty you’ll pass your audit before you ever start.

illustration-ai-certification-audit-soc1

Boost revenue

Transform your SOC 1 report into revenue. Our trust asset library makes it simple to organize and share proof of your audit success — putting you ahead of the competition.

Packed with useful features

AI security assistant

Automated evidence collection

Secure, low-code integrations

Automated framework mapping

Here’s how it works.

Strike Graph keeps the SOC 1 process simple.

Schedule a demo

Step 1

DESIGN

Choose and implement (or customize) SOC 1-specific controls from our extensive library of audit-ready options.

Step 2

OPERATE

Assign responsibility for risks, controls, and evidence across your whole team, then monitor progress via the compliance dashboard.

Step 3

CERTIFY

Strike Graph’s assessment team uses AI-enabled methods to quickly and objectively test your security program’s adherence to the SOC 1 framework. Then, our independent CPA assesses the test results and attests that your company is SOC 1 compliant.

See what our customers think of Strike Graph.

Streamlining the compliance process

The pre-existing libraries to choose from are beneficial, as well as the ability to add our unique controls is highly efficient and user-friendly. … Strike Graph is an intuitive easy to use tool for efficiently working through the compliance process. Read more on G2.com

User in computer software

Strike Graph is your partner in compliance…

Strike Graph is your one-stop shop to get your security audits going and completed in half the time. There are file repositories for security audits, automated security questionnaires. evidence repository, and great support from the customer success team. Whether you need evidence of HIPAA, SOC2, or ISO, you're in the right place. Read more on G2.com

Administrator, information technology and services

Compliance powers confidence

I am pleased with the Strike Graph team helping us navigate our compliance ocean. I have been surprised how quickly we can make sense of the good policies and procedures we already have functioning internally with the frameworks we need to provide an attestation around. Read more on G2.com

Executive Sponsor in Computer Software

Strike Graph is trusted by hundreds of companies for HIPAA certification.

Dig into the details.

Want to know more about how SOC 1 is different from SOC 2? How many types of SOC 1 reports there are? Read on for lots more details.

What's the difference between SOC 1 and SOC 2?

SOC 1 and SOC 2 serve similar goals but for different types of organizations. SOC 1 is focused on controls that affect clients' financial reporting. It’s crucial for businesses involved in finance or those that handle financial transactions on behalf of clients. SOC 2, meanwhile, casts a wider net, ensuring the security, privacy, and confidentiality of customer information across various industries. It’s about making sure an organization handles data responsibly, no matter what that data is.

Which is better? SOC 1 Type 1 vs. Type 2

It’s not about which one is better, but rather which one fits your needs. SOC 1 Type 1 gives you a snapshot, assessing the design of controls at a specific moment. It’s like a health check-up, telling you how things look right now. SOC 1 Type 2 goes further, monitoring the effectiveness of these controls over a period, usually six months or more. It’s more like a fitness tracker, showing how well you’re doing over time. If ongoing assurance is what you’re after, Type 2 is the right choice.

What is a SOC 1 report?

A SOC 1 report is basically a report card for a company's internal controls over financial reporting. It’s a way to show your clients (and their auditors) that you’re serious about handling their financial information correctly and securely. It focuses on the processes and controls you have in place to ensure you’re managing their data in a way that won’t mess up their financial statements.

Who needs a SOC 1 report?

If your company deals with clients' financial info or processes transactions that could affect their financial statements, you should consider getting a SOC 1 report. It’s like a badge of trust for payroll processors, loan servicers, and even some SaaS providers. Getting this report shows your clients you have solid controls in place, which can really strengthen your business relationships.

Are SOC 1 reports public?

No. SOC 1 reports are more like private letters than public announcements. They contain sensitive details about your company’s controls and processes, so they’re shared on a need-to-know basis. Usually, this means only with your clients and their auditors, and you’ll likely need to have confidentiality agreements in place.

Can’t find the answer you’re looking for? Contact our team!