Trust and transparency
We’re thrilled to announce that Cloudnexa recently achieved the critically important SOC 2 Type II attestation for the second year. Our team also achieved our first ISO/IEC 27001 certification. This is big news for our customers because we know you entrust us with your sensitive data, and our recent security compliance accomplishments mean you can be confident that we’re committed to safeguarding your information.
But we don’t just say that customers’ data is safe with us. An independent auditor reviewed our cybersecurity controls and confirmed that our data security program meets the rigorous SOC 2 Type II compliance standard set by the American Institute of Certified Public Accountants (AICPA) for information security. We also underwent an examination by an accreditation body to ensure that our information security management systems are certified to ISO/IEC 27001:2022, an internationally recognized and difficult-to-achieve standard that’s jointly published by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC).
Cloudnexa puts the focus on cybersecurity
Information security and data privacy remain top priorities for enterprises as ransomware ravages systems and attackers look for new vulnerabilities to exploit. In research conducted by Ponemon Institute and analyzed by IBM, the average cost of a data breach across all sectors in 2023 stood at $4.45 million. That represents a 15% increase since the 2020 report. Highly regulated industries such as healthcare incur even higher costs at almost $11 million per breach, which is up more than 53% from the findings three years ago. But those ballooning costs aren’t the whole picture. Figures from the Identity Theft Resource Center show in excess of 1,800 data compromises reported in 2022, impacting more than 422 million victims.
Amid this dynamic (and costly) threat landscape, enterprises are increasingly reliant on third-party partners to execute a variety of vital business operations. Those relationships often involve data sharing, such as providing a payroll processor with employees’ names and bank routing numbers for paycheck direct deposits. Managed service providers (MSPs) like Cloudnexa also house and handle customers’ data while delivering services and offerings, making our cybersecurity posture of critical importance to the businesses we serve.
The SOC 2 Type II and ISO 27001 audit and review processes involve evaluations carried out by independent, accredited bodies. Each compliance framework has its own requirements, but reviewers generally assess and test an enterprise’s security systems, practices, controls, and policies to ensure they meet the current standard. Maintaining a sufficiently high level of data privacy and information security over time is no easy task, but Cloudnexa’s stringent measures ensure we provide strong and consistent protection around customer data. Our commitment to maintaining secure environments for ourselves and our customers is top of mind. Compliance with these highly regarded standards ensures that we maintain and follow well-documented policies and procedures, and that our cybersecurity program and risk management strategies align with best practices.
Why do independent information security and data privacy certifications matter to your business?
Many companies moving to the cloud require their top-tier partners to have one or more security certifications in place before doing business. Customers benefit by prioritizing relationships with firms already well-versed in data privacy protections.
- It can be difficult and time consuming to individually vet each of your vendor’s various security programs, measures, and protocols. A SOC 2 Type II attestation or an ISO 27001 certification tells you the provider has already committed to safeguarding customers’ data by complying with industry standards for information security and data privacy.
- If your enterprise is required to comply with SOC 2 Type II or ISO 27001, your compliance could be in jeopardy if you hand data to a downstream provider that doesn’t meet the requirements. To avoid potential enforcement actions, working with certified third-party partners will help keep you in compliance.
- From a practical standpoint, your company wants to avoid a breach. The best strategy is to protect your organization’s data—whether it’s internal information or data provided by or linked to your customers—at every turn. An MSP with certification from a recognized accreditation body undergoes regular audits and reviews, with confirmation that sufficient controls and policies are in place to protect customer information against attacks. You can share information confidently, knowing everything is as safe with your MSP as it is with you.
The value of risk mitigation in SOC 2 Type II and ISO 27001 compliance
Data breaches involving third parties continue to make headlines. In today’s multi-layered, highly interconnected environment, it’s no surprise that enterprises rely heavily on vendors and other partners to carry out important work. But if those third parties experience a security event, your organization’s data—or data related to your customers, patients, or collaborators—could be exposed, even if you’ve taken the proper steps internally to protect it. Your safeguards don’t extend outside the perimeter of your business, so you need to know that your third-party partners have equally strong data security measures in place.
Our information security management certifications translate into strong data privacy for our customers, reducing their risk of unauthorized data exposure and closing the loop on data protection. We frequently house sensitive information related to cloud service consumption, configurations, and other client account details. Our customers may share their own confidential data, such as financial information, contracts that often include names and signatures, and personally identifiable information for executives and employees using the services. Cloudnexa’s vigorous security compliance posture ensures the confidentiality of and security around the data we hold about our customers. And because we have multiple certifications, our clients can be confident that we’re compliant with the recognized standards in every region where they do business.
For fintechs, enterprises working in healthcare, and those operating in other industries where data privacy and information security are paramount, SOC 2 Type II and ISO 27001 compliance for third-party providers are often non-negotiable requirements for doing business. Contact us today if you’re looking for an AWS partner with a strong background in SOC 2 Type II, ISO 27001, or other security compliance frameworks.