5 Reasons Why You Do Not Need a SOC 2 Report

You'll find plenty of content online regarding the benefits of SOC 2, but here's the truth about why you don't need to worry about it.

by Adam Markowitz

December 01, 2020

Do a quick Google search for SOC 2 and you won’t find any shortage of content detailing the benefits and importance of SOC 2 compliance, but the truth is most SaaS companies today still don’t have a SOC 2 report.

As you might imagine, we’ve heard all sorts of reasoning and self-bargaining as to why companies haven’t done it, and decided to compile the 5 (yes, very sarcastic) reasons why you don’t need to worry about SOC 2.

1. Your Customers Don’t Really Care About Security

Your customers aren’t asking for security (ok, well maybe they’re asking, but they’re not really “demanding it”) so that means they must not care.And if they’re not demanding it today, that means there’s no way their needs will ever change in the future. They’ll never make security a priority, so when it comes time to renew their contract with you, you’re golden.

The reality is that especially now in the age of COVID-19, with many companies having gone remote, security is a greater concern than ever. It’s harder for companies to enforce best security practices remotely.

Employees not used to working from home are suddenly needing to learn how to do their jobs, unfamiliar with the added security measures needed when essentially any room in their houses becomes an extension of the company’s risk exposure.

The good news is that with a clean SOC 2 report, your company can prove to your prospects and customers that you take their security seriously and have controls in place to mitigate risk.Drata automates the process of getting and staying SOC 2 audit-ready, so you and your team don’t have to spend hundreds of hours each year on the manual repetitive tasks typically associated with SOC 2.

2. None of Your Competitors Have Their SOC 2 Report

Let’s face it. The companies you sell against dictate everything your company does. The winning strategy has always been to sit, wait, and watch what others are doing before taking any action.There’s no benefit to being recognized as a leader.

Why should your company be the one that sets the bar that others are measured against? Let everyone else reap the rewards first, and then you’ll have your pick of any remaining crumbs.The truth is, you’re taking a huge risk by waiting to see if your competitors will get their SOC 2 report before you take action. Your prospective customers, seeing that you don’t take their security seriously, will flock to your proactive competitors.

With Drata’s streamlined SOC 2 workflows, you can quickly jump ahead of the pack. By getting your SOC 2 report early and efficiently, you’ll stand out as not only a great solution, but a security-minded one as well. Name a potential customer that wouldn’t want that one-two punch.

3. You Have Plenty of Time to Fill Out Security Questionnaires

You’re always wondering what you can do to pass the time during the week with such a light schedule. It’s exciting to fill in your calendar with giant blocks of time dedicated to answering detailed security questionnaires from prospective and existing customers.

Each one is so special and unique from the other, it really keeps things exciting!What’s more, your CTO and Head of Engineering will be delighted to orchestrate these projects instead of focusing on your product roadmap. They’ll be able to use all their expertise to ensure that you have the best security questionnaire answers in town.You know this isn’t ideal by any means. Your company’s time and resources are limited and precious.

To get ahead, your people need the space to concentrate on critical tasks—not security questionnaires.Your clean SOC 2 report will save your company precious time on tedious security questionnaires—they won’t go away completely, but the hours saved stack up very quickly.

Instead of answering the same question asked 20 different ways where your word is the only proof, your SOC 2 report will now serve as further proof that you have their security requirements covered.

Drata continuously monitors your company’s security controls and alerts you when something is wrong, so you can quickly resolve any issues and show prospective customers a real-time record of your company’s security posture. Goodbye, lengthy security questionnaires!

4. You Can Do It Later and Spend More Time and Money on It Then

Procrastination is a trait of any good company. Delaying tasks until the absolute last minute will ensure productivity and great results. Plus, you won’t have to worry as much about the costs, because trying to do things in a rush is always cheaper.After all, getting SOC 2 compliant is a fast and simple process.

It doesn’t matter if you start today or tomorrow; the time and cost will be the same.If only that were the case. Obtaining your SOC 2 can take months, and if you postpone it, you’ll likely end up paying more to catch up in the process (and that’s not to mention the deals you’ve likely lost by not being able to show that you have a SOC 2 report or at least a path to getting it).But with Drata, you can save time and money.

Drata automates the tedious data-gathering elements and manual workflows and checks related to SOC 2, such as taking screenshots of infrastructure consoles, end-point monitoring, background checks, etc. Drata is also partnered with some of the most experienced SOC 2 auditors in the country, meaning you’ll get a high quality report at a reasonable rate.

5. Compliance Isn’t Cool

You are very cool, and there’s few things less cool than compliance. Security is boring, and you don’t want your prospective customers to think that you’re uncool.By not prioritizing security, you’re upping your cool factor—and the probability that you’ll make it on the news for a security breach! You’ll become so popular when that happens; it’ll show the world that you’re the type of company that “moves fast and breaks things.

”Contrary to what some people say, there is such a thing as bad press, and by not worrying about data security and privacy, you’re maximizing your chances of receiving negative news coverage, breaking the trust of your current and prospective customers, and losing the respect of your industry peers.

Drata helps you minimize the chances of those terrible things happening by continuously monitoring your company’s assets and processes for gaps that might have you slipping right out of compliance, and alerting you if something is off. With Drata, you’ll be able to identify security and compliance issues before they cost you.

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Adam Markowitz
Adam Markowitz is the co-founder and CEO of Drata, a continuous security and compliance automation platform. Prior to Drata, Adam was the founder and CEO of Portfolium, an academic portfolio network for students and alumni to visually showcase their work and projects directly to employers, faculty, and fellow students/alumni. Portfolium was acquired by Instructure (NYSE:INST) in 2019. He also worked as an aerospace engineer designing, analyzing and testing liquid rocket engines for NASA’s next generation space launch vehicle as well as the Space Shuttle Main Engine. Adam earned a B.S. in Structural Engineering from UC San Diego and an M.S. in Astronautical Engineering from the University of Southern California.
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