Vendor Management

Get insight and assurance through SOC reporting

As the importance of vendor management continues to grow, Kagesoft is prepared to help our clients meet rising regulatory requirements for vendor management by undergoing an annual independent audit to obtain a SOC 2® attestation report.

As the Association of International Certified Professional Accountants states: «SOC (System and Organization Controls) for Service Organizations reports are designed to help service organizations that provide services to other entities, build trust and confidence in the service performed and controls related to the services through a report by an independent CPA».

Types of SOC reports

SOC 1

  • Internal Control over Financial Reporting
  • Report on service provider’s controls relevant to the organization’s financial statements
  • Restricted use
  • Commonly issued by providers of core banking services, general ledger and payroll services

SOC 2

  • Trust Services Criteria
  • Report on service provider’s controls relevant to security, availability, processing integrity of the systems, confidentiality or privacy of the information
  • Restricted use
  • Commonly issued by technology and cloud service providers, data centers

SOC 3

  • Trust Services Criteria for General Use
  • Less detailed report on service provider’s controls relevant to security, availability, processing integrity of the systems, confidentiality and privacy of the information
  • Unrestricted use
  • Less commonly issued

By having an independent, third party review of our processes, we provide assurance to our clients that we have appropriate procedures and controls in place.

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