Worried, probably not. Curious, absolutely! Let’s dig into what SOC 2 Type II actually represents, and then you can decide what it means to you and your business, and what it might tell you about your language service provider (LSP).
What is SOC 2 Type II?
The SOC 2—System and Organization Controls 2—compliance framework emerged out of a need to standardize a method for assessing a company’s internal controls and processes, particularly for information security and IT systems. Today, this framework helps B2B buyers make key decisions about which service providers they want to work with, with some 66% of them demanding SOC 2 Type II compliance from vendors in AI and SaaS.
To be considered compliant, the service provider has to hire an independent auditor to look at its processes and controls over a long period. The auditor then issues a qualified or unqualified (a.k.a. clean) report on their effectiveness. The whole endeavour can take up to 18 months. In contrast, a Type I report provides a snapshot of a specific point in time, usually a single day.
A SOC 2 Type II report is a detailed document that tells potential clients and investors that the business is serious about protecting sensitive data and eliminating security risks. It also says a lot about the company’s maturity and scalability, which is why venture capitalists tend to favour startups that are SOC 2 Type II compliant.
Why some LSPs, but not all, invest in it
The translation industry has evolved—with many leading LSPs now providing AI solutions and SaaS along with their professional services—but one thing hasn’t changed: translators often work with organizations’ most sensitive information. Protected government content, highly confidential legal, medical and financial documents, R&D breakthroughs… You name it, we’ve seen it! And yet, by our estimates, just 5% of Canadian translation companies make the investment.
When you put your most sensitive data in someone else’s hands, you want to trust they’ll treat it with at least as much care as you do.
A SOC 2 Type II audit is expensive and very involved: depending on an organization’s size, complexity and readiness, the total cost can range from $20,000 to upward of $100,000. It may not be logistically feasible for massive, complex organizations such as major banks, and the steep price tag may be out of reach for the smallest translation agencies, but for medium-sized to large LSPs working with clients in heavily regulated industries, it is still a solid investment in the LSP itself and in its clients.
Why you should ask your LSP about it and work with a compliant provider
If your LSP has invested in SOC 2 Type II compliance, that may be everything you need to know about how committed they are to protecting your business and its most sensitive data.
And if they have a qualified report, you’ll see where their security practices may still need some work and will be able to easily assess the risk. If they have an unqualified report, you can move forward knowing that reliable controls are in place. No report? Well, you’ll have to do the critical work of assessing their security practices and systems yourself, which takes a lot of time and effort.
While the report can’t prove translation quality or competitive pricing, it can be a baseline for determining your vendors’ reliability, maturity and scalability. In other words, it can give you a safe shortcut for differentiating and choosing serious service providers.
With technology constantly evolving, keeping up with security threats and best practices can make it harder for you to decide whom to trust with your business’s data. Relying on a widely accepted, standardized and comprehensive tool like the SOC 2 Type II report will give you the confidence to move forward knowing you’re in safe hands.
Work with a truly invested provider today!
