Iris Glossary-SOC 2 (Service Organization Control 2)

What Is SOC 2 (Service Organization Control 2)?

SOC 2 (Service Organization Control 2) is a compliance framework designed by the American Institute of Certified Public Accountants (AICPA) to evaluate how effectively a company safeguards customer data and ensures the security and integrity of its information systems.

SOC 2 is especially common for technology vendors, SaaS companies, cloud providers, and managed service providers who store or process customer data.

The framework assesses whether an organization has the right security, privacy, and operational controls in place to protect sensitive information — making it a critical requirement during procurement and vendor risk assessments.

Learn more about security workflows in our guide:
What Is a Security Questionnaire? (adjust link if needed)

What Does SOC 2 Cover?

SOC 2 evaluates controls across five Trust Services Criteria:

Security — protection against unauthorized access
Availability — systems operate and are available as agreed
Processing Integrity — systems process data accurately and reliably
Confidentiality — confidential information is protected
Privacy — personal data is collected, used, and stored responsibly

Companies can pursue one or multiple criteria depending on customer and industry requirements.

SOC 2 Type I vs. SOC 2 Type II

SOC 2 Report Types
Type	Description	Timeline
SOC 2 Type I	Evaluates controls at a single point in time	Faster to achieve (snapshot audit)
SOC 2 Type II	Evaluates controls over a period (usually 3–12 months)	Stronger validation of ongoing security maturity

Most enterprise buyers require SOC 2 Type II as part of vendor approval.

Why SOC 2 Matters

SOC 2 helps businesses:

Build trust with customers and partners
Demonstrate operational and security maturity
Meet enterprise procurement requirements
Reduce perceived vendor risk
Shorten due-diligence and security review cycles

For buyers, SOC 2 reports provide assurance that a vendor has been independently audited and meets rigorous security standards.

Learn why automation supports this process in our article:
Proposal Automation and Why the Human Element Still Matters

SOC 2 and Vendor Security Reviews

SOC 2 reports are frequently requested during:

Security questionnaires
Due diligence questionnaires (DDQs)
Vendor onboarding and procurement cycles

Vendors with completed SOC 2 audits have a competitive advantage when selling into regulated or enterprise environments.

See how SaaS teams streamline due-diligence in our article:
RFP Automation for SaaS Companies

Best Practices for SOC 2 Readiness

Organizations preparing for SOC 2 should:

Establish defined security and compliance policies
Centralize documentation and evidence
Maintain access controls and logging
Conduct regular risk assessments and security training
Use automation to organize and maintain security responses

SOC 2 isn’t a one-time certification — it requires ongoing operational discipline.

Related SOC 2 Resources

Explore these guides to strengthen your SOC 2 readiness and automation strategy:

SOC 2 Compliance Checklist: Reddit’s Unfiltered Guide – Real-world lessons from SaaS teams preparing for audit.
HECVAT vs SOC 2: Key Differences Explained – Understand when to use each framework and how they complement one another.
What Is a Security Questionnaire? – See how security questionnaires tie into SOC 2 and vendor due-diligence workflows.
Proposal Automation for Compliance Teams – Learn how automation helps maintain SOC 2 documentation and accuracy.

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