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Announcing Figured’s SOC 2 and SOC 3 compliance: What it means for you

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Announcing Figured’s SOC 2 and SOC 3 compliance: What it means for you
By Admin

Your data security and privacy is our highest priority

We're excited to announce that we've received our SOC 2 Type 2 and SOC 3 report, reaffirming our commitment to information security and making all our efforts in this area transparent to our customers, partners, and staff. 

Figured is a company built on trust. Whether it's your farming business data or personal data, you trust us to protect your most important information. That's why security and privacy have always been top priorities. Since the beginning, we've worked closely with experts on information security to ensure that your data is protected.

Achieving SOC 2 type 2 and SOC 3 has been an opportunity to put our security practices to the test, and demonstrate they are meeting the highest standards.

What is SOC 2 type 2 and SOC 3 Compliance?

Service Organisation Control 2 (SOC 2) is an internationally recognised standard developed by the American Institute of CPAs (AICPA). SOC 2 ensures that organisations and their cloud-based systems are designed in a way that guarantees security, availability, processing integrity, confidentiality, and privacy of customer data.

SOC 2 compliance is awarded to businesses by external auditors upon assessing their compliance with one or more of the trust principles. Figured was assessed by A-LIGN and has achieved compliance with the following trust principles - Security, Availability and Confidentiality.

SOC 2 type 2 ensures the design and operating effectiveness of our business controls over a period of 12 months. Figured is currently SOC 2 Type 2 and SOC 3 compliant as of 31st October 2021. SOC 3 reports are based on the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) existing Trust Services Criteria (TSC). The purpose of the report is to provide a public-facing version of the SOC 2 attestation report for customers who need assurances about Figured’s controls relevant to security, availability and confidentiality, but do not require a full SOC 2 report.

What does this mean for you?

Trust and transparency are at the forefront of security and data privacy for us as a financial management software provider. Figured provides you with the tools to make confident decisions about your farming business. We know that you are placing incredible trust in us that not only will your data be safe but also accurate. Our SOC 2 report can provide you with the assurances that we are protecting your data by following industry best practices.

SOC 2 compliance encompasses the technology, processes and people across our entire organisation from recruitment to business continuity, secure code development and more. Achieving SOC 2 has made Figured more robust across the board now and moving forwards.

Obtaining the SOC 2 Type 2 and SOC 3 is one way to demonstrate that Figured is committed to delivering end-to-end security with farm financial management software.

What’s next?

Figured is committed to carrying out annual SOC 2 type 2 & SOC 3 audits moving forwards to ensure we continue to maintain and improve on our security practices.

If you have any questions or would like to request a copy of our SOC 2 type 2 or SOC 3 report, please get in touch at privacy@figured.com.