No organization wants to do business with a high-risk vendor. In today’s increasingly complex cyberthreat landscape, companies routinely demand trust and transparency, so they can be confident handing over their sensitive data. This may involve asking for an SOC 2 audit report, which you will need to be able to secure and maintain more valuable contracts.
Keeping up with the constantly evolving compliance landscape can be demanding, especially if you’re relying entirely on in-house resources to conduct IT security assessments. That said, it’s important to view compliance not as a burden, but as a competitive advantage that can earn you more lucrative contracts, as well as retain existing ones.