Today, we’re proud to say that Chakray has achieved SOC 2® Type II milestone. This milestone not only signifies our unwavering commitment to safeguarding sensitive information but also sets a new standard for excellence in the realm of digital trust and integrity. This accomplishment is a product of amazing teamwork, highlighting the collective dedication of Chakray’s professionals. Most importantly, it shows how important SOC 2® Type II is in today’s business world, emphasizing the critical role it plays in ensuring secure data management practices for organizations striving for excellence and trustworthiness.
SOC 2® Type II: What is it and what is its importance?
SOC 2® is a reporting framework created by the American Institute of Certified Public Accountants (AICPA). It is the highest industry standard for managing client data based on five principles: security, availability, processing integrity, confidentiality, and privacy. Compliance with SOC 2® requirements indicates that the service organization maintains a high level of information security and can also help ensure that sensitive information is handled responsibly.
SOC 2® Type II is more than just a badge of honour, it’s a testament to our unwavering commitment to safeguarding our data and earning the trust of our clients. It’s a powerful assurance that our organization adheres to the highest standards of data security and regulatory compliance.
- Client Trust: Knowing that data breaches and cyber breaches are on the rise, customers are demanding more and more trust and transparency. That’s why Chakray’s SOC 2® Type II certification confirms to our customers and partners that we take the security of their data seriously.
- Market Differentiator: SOC 2® Type II achievement sets us apart in the market. It’s a competitive edge that showcases our dedication to excellence, attracting discerning clients who prioritize security and compliance.
SOC 2® Type II: Process and overcoming adversity
A SOC 2® Type II attestation declares controls at a service organization over a period of 6 months. SOC 2® Type II reports on the description of controls that the service organization’s management provides and demonstrates that the controls are appropriately designed, implemented and are in practice. Those reports are based on a set of trust principles rather than security standards. Each certified organization designs its controls based on these trust principles, which are then third-party ascertained.
Chakray APAC achieves SOC 2® Type II
Our audit was conducted by KPMG Sri Lanka together with KPMG India, this audit confirms that Chakray’s information security practices, policies, and procedures meet the rigorous standards for Security, Availability and Confidentiality trust criteria.
Our path to SOC 2® Type II compliance was strewn with obstacles, but they served as stepping stones to greatness. Following are some of the challenges we confronted:
- Resource Provision: Achieving SOC 2® compliance required the allocation of substantial resources, both in terms of manpower and technology. Balancing these needs with our day-to-day operations was challenging.
- Process Overhaul: We had to revamp and refine our existing processes and controls to meet the stringent SOC 2® requirements. This was a time-consuming and meticulous process.
- Documentation Rigor: Maintaining comprehensive documentation of our security policies, procedures, and activities was crucial. It required careful attention to detail and documentation of every step.
Turning challenges into victories
Here’s how we transformed those challenges into success:
- Resource Allocation: Our management demonstrated unwavering support for the SOC 2® compliance initiative. They understood the importance of this milestone and ensured that the necessary resources were allocated. This included investing in advanced security technologies and prioritising security requirements.
- Process Overhaul: Our IT Operations team worked diligently to overhaul our processes. They conducted thorough risk assessments, identified vulnerabilities, and implemented robust controls. They supported the security team in regular training and awareness programs were also conducted to ensure that every employee was on board with the new processes.
- Documentation: The HR team played a key role in ensuring that documentation was not just a checkbox exercise but a living record of our commitment to security. They helped the security team to establish a robust system for documentation and auditing, making it easier for the security team to track the progress and address any gaps.
An earnest expression of gratitude
We extend our deepest gratitude to every member of our organization who contributed to this monumental achievement. Our HR team, whose meticulous planning and relentless pursuit of compliance drove us forward. Our IT Operations team, the architects of our transformation, whose dedication fortified our security posture. Our visionary management, who provided unwavering support, trust, and guidance.
Our SOC 2® Type II compliance is a symbol of our unwavering commitment to protecting and securing the data entrusted to us. It represents transparency and security in an era rife with data breaches. This achievement is a collective celebration, a testament to the dedication of our extraordinary teams.
As we stride into the future, we remain focus on our mission to safeguard and strengthen data security for our clients and partners.
Current and prospective customers interested in a copy of our report may contact us.