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{"id":1037,"date":"2024-02-07T16:42:41","date_gmt":"2024-02-07T16:42:41","guid":{"rendered":"https:\/\/www.booksandbalancesinc.com\/blog\/?p=1037"},"modified":"2024-02-07T16:42:41","modified_gmt":"2024-02-07T16:42:41","slug":"what-are-soc-report","status":"publish","type":"post","link":"https:\/\/www.booksandbalancesinc.com\/blog\/business\/what-are-soc-report","title":{"rendered":"What are SOC Report Types and Differences? Learn the Basics Easily"},"content":{"rendered":"[vc_row type=”full_width_background” full_screen_row_position=”middle” column_margin=”default” equal_height=”yes” content_placement=”middle” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” id=”sec2″ overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” gradient_type=”default” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left” row_position=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” pointer_events=”all”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” overflow=”visible” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”7\/12″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][image_with_animation image_url=”1038″ image_size=”full” animation_type=”entrance” animation=”None” animation_movement_type=”transform_y” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/vc_column_inner][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” overflow=”visible” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”5\/12″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”” text_direction=”default”]Compliance is critical to your business\u2019s growth.<\/b><\/p>\n

As a startup, you might not expect to deal with compliance. But as your business flourishes, you might have to handle many different roles, and one of the key ones is compliance, even if it doesn’t seem to fit well.<\/span><\/p>\n

SOC, which stands for Service Organization Control, is about showing that your company has reasonable controls in place. This is important because accountants look for it when considering your company SOC-compliant.<\/span><\/p>\n

Being SOC-compliant matters a lot. Without it, your startup might miss out on big deals with large companies, which are crucial for keeping your business going.<\/span><\/p>\n

In this blog, we will explain SOC 1, SOC 2, and SOC 3 \u2013 We will cover what each one means and how they differ. By the end, you’ll know which SOC report is most relevant for your startup and what you need to do to become compliant.<\/span><\/p>\n

Understanding Terminologies<\/b><\/h2>\n

Understanding these terminologies is crucial. Don’t hesitate to scroll back up and consult this key as you read.<\/span>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text text_direction=”default”]\n