Who Needs to Be SOC 2 Compliant?

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Director of IT in Software, 201 - 500 employees
SOC 2 applies to a wide range of service organizations. Main purpose of SOC2 is to ensure that the consumer data is kept secure by the organization. By having a SOC2 report you ensure your customers and stakeholders that a particular service that you offer is being provided securely.
In reality there isn’t such thing as SOC certification, you have a SOC reports that outlines findings, many organizations refer to being SOC certified if they have clean record.
It mostly applies to service providers, managed IT services, SaaS companies that provide apps, if you provide BI and analysts, if you provide hosting services, hosted private cloud services, online storage etc.
It is sometimes a requirement to do business with 3rd parties i.e they might require a SOC2 report before they do business with you. If you offer any hosted environment its good to have it to be able to attract more customers and ensure them that what you provide is secure and their data is controlled in secure manner.
Head, Information Security and Compliance in Finance (non-banking), 1,001 - 5,000 employees
SaaS service organizations
VP of IT in Media, 10,001+ employees
Any vendors of software use in controlled processes subject to regulatory controls

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