SOC 2 compliance is based on a set of criteria called the Trust Service Criteria, which consists of five categories:

• Security: The system is protected against unauthorized access (both physical and logical).
• Availability: The system is available for operation and use as committed or agreed.
• Processing Integrity: System processing is complete, valid, accurate, timely, and authorized.
• Confidentiality: Information designated as confidential is protected as committed or agreed.
• Privacy: Personal information is collected, used, retained, disclosed, and disposed of in conformity with the commitments in the entity’s privacy notice.

SOC 2 compliance involves a thorough audit of an organization’s systems and processes to ensure they meet the specified criteria. This audit is conducted by an independent third-party auditing firm. Upon successful completion, the organization receives a SOC 2 report that attests to its adherence to the Trust Service Criteria.

Achieving SOC 2 compliance is particularly important for service providers that handle sensitive customer data, as it demonstrates a commitment to maintaining the highest standards of data security and privacy. 

Many businesses, especially those in the technology and SaaS (Software as a Service) industries, seek SOC 2 compliance to assure their customers that their data is handled with the utmost care and in accordance with industry-recognized standards.