beqom, a provider of cloud-based compensation management software, announced it has achieved SOC 2 Type II certification, the gold standard for data security and compliance, based on an independent audit conducted by one of the Big 4 audit firms. beqom is trusted by many large enterprises globally, including many financial institutions, to process their employee compensation.
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“We have to maintain the highest standards because we have contractual obligations with our customers to protect their information, and legal requirements to process personal data in accordance with global regulations such as GDPR and CCPA.”
SOC 2 is a framework of security standards based on the five trust principles developed and maintained by the American Institute of Certified Public Accountants (AICPA): Security, Availability, Confidentiality, Processing Integrity, and Privacy. The SOC 2 Type II audit is considered the most rigorous of control standards, since it ascertains whether a company can control and secure its processes over time, as opposed to the Type I audit which looks only at a snapshot view at a single point in time. A Type II certification such as that achieved by beqom is considered a more reliable measure as it reflects a culture of permanent control and tracking of changes.
The beqom control environment has been developed over several years on a foundation of the ISO27001 standard, and has evolved into a complete SOC 2 environment through continuous improvement. beqom is also audited and certified according to globally recognized standards established by the International Organization for Standardization (ISO) such as ISO 27001, ISO 27017, and ISO 27018, and meets compliance standards such as ISAE 3402/SOC 1 Type II.
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According to Hery Andrianjafy, beqom Head of Risk and Compliance, “Our system is processing highly sensitive compensation and personal HR data, so the highest degree of security and privacy is absolutely critical. Our large enterprise customers, especially those in financial services, have very stringent IT requirements, including SOC1 and SOC2 Type II assurance reports that cover one full year.” Says Hery, “We have to maintain the highest standards because we have contractual obligations with our customers to protect their information, and legal requirements to process personal data in accordance with global regulations such as GDPR and CCPA.”
beqom provides a cloud-based total compensation management solution that unifies all compensation processes on one platform. beqom supports global enterprises across industries, including PepsiCo, DHL, Sodexo, Golub Capital and a host of major financial institutions. The fully configurable solution integrates seamlessly into core HR suites, combining key compensation processes in a transparent, fair, and compliant environment.