Sidetrade Achieves SOC 1 and SOC 2 Type 2, Plus ISO 27001 Renewal

Sidetrade's Commitment to Information Security

Sidetrade, the renowned leader in AI-driven Order-to-Cash applications, has achieved significant milestones in information security by earning SOC 1 Type 2 and SOC 2 Type 2 assurance reports, as well as renewing its ISO 27001:2022 certification for the fifth consecutive year. These certifications serve as a testament to Sidetrade's unwavering dedication to enhancing its security frameworks and operational practices.

Significance of SOC Certifications

Having previously secured SOC 1 Type 1 and SOC 2 Type 1 assurance in January, undergoing this transition to Type 2 represents a critical evolution in Sidetrade's security posture. This advancement not only signifies controlled practices but also validates the ongoing effectiveness of these controls over an extended period. It emphasizes the company’s proactive stance in addressing evolving security challenges.

Voices from Leadership

Laurent Pontier, Sidetrade’s CTO Chief of Staff, articulates the company’s achievements, stating, “We are extremely proud of our strong commitment to information security, assurance, and operational excellence at Sidetrade. These achievements serve as a significant advantage within the financial software landscape, particularly in the Order-to-Cash process where efficient management of financial workflows is of utmost importance.”

Importance to Clients

He adds, “The SOC 1 Type 2 and SOC 2 Type 2 assurance reports are especially relevant for our clients in North America—particularly those in regulated industries—who prioritize data protection. These recognitions provide assurances to our global customer base that we comply with the highest international standards and relentlessly aim to exceed them.”

Understanding SOC Reports and Their Impact

The System and Organization Controls (SOC) reporting process offers a critical benchmark for evaluating the effectiveness of service providers in terms of security and reliability. SOC 1 (ISAE 3402) primarily evaluates the financial reporting aspects of Sidetrade’s offerings, ensuring effective controls are in place to support secure financial operations. Meanwhile, SOC 2 (ISAE 3000) extends its focus to encompass the overall security framework throughout the organization.

An Ongoing Commitment

This transition from Type 1 to Type 2 underscores Sidetrade’s initiative to not only meet but exceed established security standards. The company remains committed to operational excellence and is well-equipped to tackle any emergent funding and security challenges that its partners may face.

ISO Certification Renewal

In addition to SOC validations, Sidetrade has once again successfully renewed its ISO 27001:2022 certification, first achieved five years ago. This internationally recognized certification, awarded by EY CertifyPoint, provides a robust framework for secure information management. It emphasizes the importance of consistently reviewing and updating data protection measures to mitigate risks and uphold international best practices.

Customer Trust and Future Endeavors

With the renewal of ISO 27001:2022, Sidetrade reiterates its commitment to safeguarding client information, providing them assurance that its data management practices not only meet the global benchmarks but also continue to evolve in response to emerging threats.

Dedication to Corporate Governance and Responsibility

With a firm commitment to effective governance and Corporate Social Responsibility, Sidetrade seeks to enhance transparency and sustainability across its business operations. This aligns with their mission of becoming a transformative partner in financial software solutions.

To learn more about Sidetrade's initiatives in governance and responsibility, interested parties may explore additional resources available through their official channels.

Frequently Asked Questions

What are SOC 1 and SOC 2 certifications?

SOC 1 and SOC 2 certifications are independent audits that evaluate the controls a company has in place for financial reporting and security, respectively. They demonstrate the company’s adherence to best practices.

Why is ISO 27001:2022 certification important?

This certification establishes a benchmark for secure information management and helps organizations protect their data amidst rising global threats.

How does Sidetrade ensure its security practices remain effective?

Sidetrade routinely reviews and enhances its security measures, ensuring they remain compliant with the latest international standards.

What industries benefit most from Sidetrade's certifications?

Industries operating in regulated sectors, such as finance and healthcare, gain significant value from Sidetrade's SOC and ISO certifications, ensuring their data is handled securely.

Where can I find more information about Sidetrade?

For more details, visit Sidetrade's official website or reach out to their media relations team.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.