Contact Sales: 325-223-9500    |    Customer Portal
Resource Library

SOC3 Overview

 

Ready to Download?

Just complete this form to begin your download.

About This Download

SOC3 Overview

What is a SOC Report? There are actually three types of SOC reports; SOC 1, SOC 2, and SOC 3. The first of the SOC reports, SOC 1, provides a formal audit of a company’s self‐imposed controls for financial transactions.

The shortfall with SOC 1 is that the relevance of the audit solely depends on the controls formulated and included by the service provider and the credibility of the auditor. With the emergence of new technology services and cloud computing entities, the need was recognized to protect against the over‐application of SOC 1 by standardizing the adherence to the industry standard Trust Services Principles, Security, Availability, Processing Integrity, Confidentiality and Privacy.

In recent years SOC 2 Type 2 has become the industry best practice for ensuring security of highly sensitive cloud‐hosted data. SOC 2 significantly expands on SOC 1 but may not be cost-effective for smaller organizations who are unable to readily meet the demands of the five Trust Services Principles and an in‐depth audit of their security protocols.

You May Also Like...

SaaS Environment

Learn about the TimeClock Plus SaaS Environment.

TCP Direct

Data from your current ERP system is easily synced and available at any time collection device enabling them to become a extension of your ERP solution.

SOC3 Overview

What is a SOC Report? Why the need for a SOC report? Which report should I require? Find out these answers and more.

Security Overview

Learn about TCP's security framework based on industry best practices and widely adopted security principles.

Start working better. Today.

ML