SOC 2 explained in two minutes from Tugboat Logic

Know Everything About SOC 2 in Two Minutes

SOC 2 explained in two minutes from Tugboat Logic

Here’s a five-question Q&A on all things SOC 2. It’s based on our team’s collective 124 years of security and compliance experience, and it’s straight to the point.

Do I really need SOC 2?

Yes, if you have customers and prospective customers asking for it. Or you anticipate them asking for it in 3-6 months. Otherwise, don’t get SOC 2 if you don’t need it – audits are miserable enough already.

What’s the difference between Type 1 and Type 2?

SOC 2 Type 1 and Type 2 differences, pros, and cons as explained by Tugboat Logic.

When should I start prepping for SOC 2?

If you’re short on time: Now, especially if clients and prospects are asking for proof of SOC 2 and or it’s holding back your sales deals. Once you start prep, you can confidently tell clients that you’ll get SOC 2 in the near future.

If time is not an issue: Whenever works best. We recommend you go straight to Type 2 so you only prep for and pay for one audit.

How much does SOC 2 cost?

In our experience, we’ve seen total costs ranging from as high as $120K ($90K for prep + $30K for the audit) to as low as $12K total. Reputable vendors typically charge $27K – $30K in total.

Nowadays, you can find everything from bargain basement prices (and quality of work) to the Cadillac of SOC 2 prep – make sure you do due diligence and comparison shop. And use our SOC 2 ROI guide to help you get realistic ballpark prices when you’re comparing vendors and auditors.

Can I just go straight to Type 2?

Yes, especially if you’re not in a rush and want to get all of it done the first time around (check out our EZ SOC 2 program to go straight to Type 2 and save $22,000).

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