STATE OF THE INDUSTRY
Uncover Lucrative Opportunities :
This One Certification Attracts Larger ,
High-Value Clients
BY ESTHER SHEIN
Are you missing out on bigger and more lucrative clients because of their security concerns ? With a SOC 2 audit report you can PROVE that you handle sensitive data responsibly and securely .
I
f you want “ street cred ” to show clients and prospects you take security seriously , you may want to consider SOC 2 certification . Not only can you use it as a differentiator but you may also find that bigger and more lucrative customers require it .
SOC 2 is “ very significant in our ability to get clients ,” says Karl Bickmore , CEO of Snap Tech IT , an MSP with offices in Georgia , Arizona , and California . “ And the bigger your clients get and more dollars [ they want to spend ], the more likely they are to require this to be a vendor of theirs . It opens a whole new market to us we didn ’ t have before .”
The voluntary System and Organization Controls ( SOC ) were developed by the American Institute of CPAs ( AICPA ). There are three different types of SOC audits . SOC 2 sets guidelines on how customer data should be managed . The standard is based on criteria that include security , availability , processing integrity , confidentiality , and privacy .
SOC 2 compliance is becoming increasingly important for MSPs to have in their arsenal because it ensures they are handling sensitive information responsibly .
When Opportunity Strikes
Snap Tech has been SOC 2 compliant since 2014 . Bickmore says he started the process because of a client opportunity . “ It was one of those classic cases of necessity being the mother of invention ,” he notes . The prospect wanted to hire Snap Tech — but only if the firm agreed to a third-party audit .
“ There are customers out there that won ’ t do business with you unless you do a validation of your policies and procedures ,” Bickmore says . “ SOC 2 is one of the most well-respected and understood [ standards ] and works across multiple industries so [ customers ] specifically ask for attestation of that . We thought that makes a lot of sense and saw this as an opportunity to separate ourselves in the marketplace .”
At the time , Bickmore says Snap Tech wasn ’ t encountering other MSPs with SOC 2 attestation in competitive situations . Not only is it a differentiator , but “ customers appreciate that you have it ,” he says .
For Neil Juern , CEO of 7tech ( formerly Juern Technology ), an MSSP that partners with midsized businesses , SOC 2 compliance means “ doing the things you say you ’ re doing with a third-party audit .” 7tech , headquartered in San Antonio , Texas , is aiming to finish its SOC 2 compliance process by the end of 2024 .
30 | MSPSUCCESS . COM