Parsyl has completed a SOC 2 Type II Exam: What does that mean?

Written by Admin | May 23, 2023 5:00:00 PM

Parsyl is proud to share that we have completed a SOC 2 Type II examination! This means that we have met high security standards to protect our data and systems. Keep reading to learn more about SOC 2 (Service Organization Control 2) and why it is important for both Parsyl and our clients.

What is SOC 2?

A security framework that defines how companies should manage, process, and store customer data.

Type I vs Type II: What’s the difference?

A SOC 2 Type I examination occurs on a certain date, while a SOC 2 Type II examination occurs over a period of time (typically six to twelve months).

Successfully completing a SOC 2 Type II exam demonstrates that a company's security controls have been evaluated by a licensed CPA firm against the criteria outlined in the SOC 2 framework to ensure they are operating effectively.

This type of exam provides a higher level of assurance than a SOC 2 Type I exam because it demonstrates that the company has implemented and maintained effective controls over time to protect its clients' data.

SOC 2 Type II for Parsyl

Our SOC 2 Type II report provides users of our services with information regarding the design and effectiveness of our internal controls relevant to the SOC 2 criteria for security. This includes, but is not limited to, the implementation and enforcement of best practices such as:

Two-factor authentication
Encryption
Documented security policies and procedures
Security training program

Why does it matter to Parsyl?

Identifies and mitigates risks related to security and confidentiality
Reduces the likelihood of data breaches, downtime, and other incidents
Establishes Parsyl as a trusted technology solution
Helps us meet regulatory requirements

Parsyl will complete the SOC 2 Type II exam each year as we are committed to keeping our data secure and continuously improving our internal controls.

Questions? Contact us to learn more.

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