Company

CRS is Now SOC 2 Type II Compliant

The journey to SOC 2 compliance is meticulous and involves several critical steps to ensure that all necessary security measures are in place. Here’s a comprehensive guide on how we achieved SOC 2 compliance at CRS.

CRS Credit Experts

July 08, 2024

TL;DR

  • CRS has achieved SOC 2 Type II compliance, showcasing dedication to data security.
  • The journey to compliance involved meticulous steps and strategic decision-making.
  • SOC 2 Type II evaluates operational effectiveness of security controls over time.
  • Being SOC 2 compliant signifies commitment to data security and integrity.
  • Maintaining compliance is an ongoing effort to ensure robust security practices.
  • Achieving SOC 2 compliance is a significant milestone for any company, demonstrating a commitment to the highest standards of data security and privacy. At CRS, we are proud to announce that we have achieved SOC 2 Type II compliance, reinforcing our dedication to safeguarding the sensitive information of our clients and their customers.

How to Get SOC 2 Compliant

The journey to SOC 2 compliance is meticulous and involves several critical steps to ensure that all necessary security measures are in place. Here’s a comprehensive guide on how we achieved SOC 2 compliance at CRS.

Why is Security Important at CRS and What Made Us Set Out to Get SOC 2 Compliance?

At CRS, security is paramount. As an all-in-one platform handling credit data, fraud prevention, and compliance, the security of our systems and the protection of sensitive data are our top priorities. Achieving SOC 2 compliance was a strategic decision to enhance our security framework, build trust with our clients, and adhere to industry standards.

SOC 2 Explanation: What is a SOC 2 Report and How are Type I and Type II Different?

SOC 2 (System and Organization Controls 2) is a framework for managing customer data based on five “trust service principles”—security, availability, processing integrity, confidentiality, and privacy. There are two types of SOC 2 reports:

  • Type I: Assesses the design of security processes and controls at a specific point in time.
  • Type II: Evaluates the operational effectiveness of these controls over a period of time, usually a minimum of 90 days, but often over a year for greater reliability.

We decided to pursue SOC 2 Type II compliance directly, bypassing Type I, as Type II provides a more comprehensive and consistent evaluation of our security measures over time.

Why Does Being SOC 2 Compliant Mean Something to CRS?

Being SOC 2 compliant is not just about meeting a regulatory requirement; it signifies our unwavering commitment to data security and integrity. This compliance reassures our clients that their data is handled with the utmost care and meets the highest security standards. Moving forward with SOC 2 was a natural choice for CRS to bolster our reputation as a trusted partner in the credit reporting industry.

How Did CRS Tackle the First Steps to Achieve SOC 2 Compliance?

Our journey towards SOC 2 compliance began with assembling a dedicated team to manage the project. We appointed a project manager who worked alongside our IT and security teams to map out the compliance process.

Tooling and Partnerships: Our Strategy

Choosing the right tools and partners was crucial. We evaluated several compliance management platforms and ultimately selected a partner that aligned with our security needs and organizational goals. Our decision was based on comprehensive research and the partner’s proven track record in assisting companies with SOC 2 compliance.

Working with Johanson Group LLP for Our Audit Process

We partnered with Johanson Group LLP for our audit. Their expertise and systematic approach made the audit process seamless. Johanson Group LLP provided invaluable guidance and support, ensuring that our security measures met SOC 2 standards.

Our Audit Timeline and Experience

The audit process was thorough and spanned several months, covering a period of 90 days initially, but our next audit will span the entire next year. It involved rigorous testing and evaluation of our security controls. Despite the intensity, the process went smoothly, thanks to our well-coordinated team and the expert oversight from Johanson Group LLP.

How Will Having SOC 2 Enable Our Business?

Achieving SOC 2 compliance positions CRS as a leader in data security within the credit reporting industry. It enhances our credibility, gives our clients greater confidence in our services, and opens up new business opportunities.

Next Steps

Maintaining SOC 2 compliance is an ongoing effort. We are committed to continuous monitoring and quarterly security reviews to ensure our security practices remain robust and effective. Our next steps include preparing for the next SOC 2 Type II audit to demonstrate the ongoing effectiveness of our security controls over the next year.

In conclusion, achieving SOC 2 compliance is a testament to our commitment to security and excellence. At CRS, we will continue to uphold these standards and ensure the highest level of data protection for our clients and their customers.

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