How Much Does SOC2 Cost?

The Top Costs of SOC 2 Compliance and How to Manage Them:

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Getting a SOC2 audit is a smart move for any business looking to establish trust with their clients and prospects. But it comes with costs; and we aren't just talking about dollars. Understanding what is and is not required is crucial for finding ways to streamline and automate the process without compromising security. While also saving hours of time for your executive team.

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SOC2 Audit Fees

Getting a SOC2 audit requires a CPA (Certified Public Accountant). Costs and time depend on your company size (employee count), network size, and the auditor chosen. A thorough audit is an investment, but getting several auditor quotes can help you find competitive pricing and verify independent trust.

We have an average audit cost of $15k for our SMB clients.

Security Tools & Services

SOC 2 often necessitates implementing or upgrading security solutions:

• Vulnerability Scanning: Regularly identify and remediate vulnerabilities in your systems. Depending on the vendor, MSP, or tool this can range from $50-500 a month depending on the network size.
• Penetration Testing: Simulate real-world attacks to uncover weaknesses before they're exploited. This can range from $2,000 to $40,000+
• Security Planning: Develop a disaster reaction plan and make general security upgrades in the form of remediations to pentesting and scanning findings. This can be achieved in several ways but will usually cost you time; and usually a 3rd party vCISO.

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SOC2 Personnel Costs

Depending on your in-house expertise, you may need:

• Internal Resources: Dedicated time to creating documentation, policy creation, and remediation.
• Outside Advising: Advisors can jumpstart the process and provide security services.

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If you aren't using an advisor like K1C, SOC2 will require those who are involved in vendor acquisition, hiring/firing, and your IT resources to spend full work weeks on SOC2 preparation.

Smart Budgeting for SOC 2 Success

Seeking partners specializing in SOC2 readiness can make a big difference. At K1C, we guide you through the security and readiness process, helping you achieve SOC2 efficiently while staying within budget.

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Let's discuss how we can make your SOC 2 journey a smooth one.

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