Company
Date Published
Author
Amber Li
Word count
2160
Language
English
Hacker News points
None

Summary

SOC 1 compliance is crucial for businesses providing outsourced financial services to ensure strong financial controls, trust with clients, and safeguard against reputational damage. SOC 1 reports validate a company's internal control processes, providing reasonable assurance to customers. However, maintaining SOC 1 compliance can be challenging due to increasing complexity in financial operations, global decentralization of business applications, and the need for continuous monitoring of access controls and change management. Common failures include weak logical security controls, lack of incident response plans, and deficient change management controls. Veza helps automate access governance, enforce separation of duties, and strengthen cyber incident response to maintain audit-ready controls, providing a quick start guide on implementing SOC 1 controls and enhancing SOC 1 compliance automation with its Access Graph, Access Governance, and Access Intelligence products. By implementing automated access governance and continuous monitoring, Veza can help organizations significantly reduce the burden of SOC 1 compliance and improve security posture.