Challenges and Opportunities of
ISAE 3000 | SOC 2
Challenges
Undergoing an ISAE 3000 | SOC 2 audit presents its challenges. However, the challenges vary for each company, but these are the most common.
Employee investment.
For many companies, implementing an ISAE 3000 | SOC 2 audit is challenging because it requires a significant investment of employee time. Often, the normal workflow is interrupted to undergo the audit for weeks. It means that it requires time and money from a company. The process frequently places tangible pressure on the organization as it responds to audit requests and adjusts current documentation and procedures. However, Risklane can assist with this, often saving time and costs for the company.
Financial investment.
ISAE 3000 | SOC 2 audits are not inexpensive. At the bottom end, the investment can be enormous. Other cost factors include additional services, such as third-party scanning and penetration testing, and background checks on employees. Some customer requests may need to be put on hold while the team focuses on the audit. Because Risklane possesses more knowledge and experience about the audit, this can be cost-effective.
Opportunities
However, the opportunities outweigh the challenges.
ISAE 3000 | SOC 2 reports are used by organizations as a marketing tool. New and existing customers know directly through ISAE 3000 | SOC 2 that they are dealing with a reliable party. Organizations that do not have such reporting may miss out on significant new opportunities.
- Implementation will have a positive impact on the quality of risk management.
- Customer confidence improves that risks are effectively managed.
- IT queries from partners and customers can be answered more efficiently.
- Opportunities arise to attract new customers and retain existing ones.
