SOC 2 Compliance: Your security & privacy is our highest priority

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SOC 2 Compliance: Your security & privacy is our highest priority
By Richard Wyke

As Figured continues to grow around the world, it’s important to us that our partners and customers have reassurance in our ability to keep their systems and information private and secure. 

That’s why we’re incredibly proud to announce that we are now SOC 2 Type I compliant.

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

What is SOC 2 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.

There are two types of SOC 2 audits, Type 1 and Type 2. Type 1 examines the controls used for maintaining the trust principles at a point in time with Type 2 examining the effectiveness of these over a period of time. Figured is currently SOC 2 Type I compliant as of 30th October 2020 and we are working towards becoming Type II compliant. 

What does this mean for you?

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, code development and more. Achieving SOC 2 has made Figured more robust across the board now and moving forwards. 

What’s next? 

We’re currently working towards achieving SOC 2 Type 2 and SOC 3 with expected compliance in late 2021. Figured is committed to carrying out annual SOC 2 & 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 report, please get in touch at privacy@figured.com