OpenLM’s commitment to security
Cybersecurity frameworks define the standards to which organizations should adhere to strengthen their data security. One such framework is SOC 2 (Service Organization Control Type 2), which is relevant for cloud-based technology businesses that handle customer data.
Understanding SOC 2
Developed by the AICPA (American Institute of Certified Public Accountants), SOC 2 is a framework for ensuring that organizations are in compliance with certain security standards. SOC 2 was created to guarantee the safety of customer information while it is in the hands of external service providers.Â
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Using the five trust service principles of security, privacy, availability, confidentiality, and processing integrity, the framework lays out requirements to maintain rigorous data security.
Defining the concepts of SOC 2
SOC 2 compliance and requirements are unique to each enterprise, in contrast with the standardized conditions imposed by other compliance frameworks. Each business must develop its own set of security controls to ensure it complies with three of the five trust principles in a way that makes sense for its unique operating model. There are five principles in total, but privacy and processing integrity are applicable principles, meaning that organizations providing cloud services can decide whether they apply for it or not. However, the security, confidentiality, and availability principles are mandatory in every SOC 2 Type 2 audit.Â
Security: Overarchingly, the data security principle ensures that information and infrastructure are secure against intrusion. It’s possible that access control measures, such as ACLs or IDMS will need to be put in place for this purpose.Â
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Additionally, you may need to implement intrusion detection and recovery systems, multi-factor authentication, and stricter outbound and incoming firewall rules.Â
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Confidentiality: If only a select few people should have access to a set of records, then those records qualify as confidential. Information of this type could be the code for an application, a user’s login credentials, a credit card number, a business plan, etc.Â
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Private information must be encrypted both at rest and in motion to meet this standard. Furthermore, when deciding who should have access to sensitive information, it’s important to remember the Principle of Least Privilege, which states that access should be granted only to those who truly require it.Â
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Availability: Service-level agreements (SLAs) for system availability must be met continuously. This necessitates the development of systems that are inherently fault tolerant and do not fail under pressure. Additionally, businesses need to have disaster recovery plans in place and implement network monitoring systems.Â
A successful SOC 2 Type 2 audit and OpenLM
SOC 2 compliance and cloud services go hand in hand. It’s safe to say that a service that does not have security in its DNA cannot successfully complete a SOC 2 audit. OpenLM’s cloud service was built with security in mind, enforcing strict access control rules, adhering to the security, confidentiality, and availability principles of SOC 2
To read the full SOC 2 Type 2 report on OpenLM’s cloud services, click on this link.
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