If you’re running a SaaS or cloud-based business in the U.S., chances are you’ve already heard the question:
💡 “Can you share your SOC 2 report?”
For many companies, this single request from a customer, partner, or investor is a defining moment. Without a SOC 2 report, doors to enterprise deals may stay closed. With one, you gain credibility, trust, and a competitive advantage.
But what exactly is a SOC 2 report, why do companies ask for it, and how do you actually get one? Let’s break it down in plain English.
What Is a SOC 2 Report?
A SOC 2 report is an independent audit performed by a licensed CPA firm to verify that your company has the right security controls in place to protect customer data.
Think of it as a stamp of approval for how your business handles information security.
SOC 2 was developed by the American Institute of CPAs (AICPA) and evaluates companies against the Trust Services Criteria (TSC):
- Security 🔒 – Are your systems protected from unauthorized access?
- Availability ⏱ – Can customers rely on your systems to be up and running?
- Processing Integrity ⚙️ – Do your systems process data accurately and reliably?
- Confidentiality 📂 – Is sensitive business data properly safeguarded?
- Privacy 👥 – Are you handling personal information responsibly?
When a U.S. company asks for your SOC 2 report, they’re really asking: “Can we trust you with our data?”
SOC 2 Type I vs. Type II Reports
There are two main types of SOC 2 reports. Which one you need depends on where you are in your compliance journey:
- SOC 2 Type I:
A “point-in-time” snapshot. It evaluates whether your controls are properly designed on a specific date.
Best for startups or early-stage SaaS companies that need to prove compliance quickly. - SOC 2 Type II:
A more comprehensive audit. It tests your controls in action over a period of 3–12 months.
Best for companies selling to enterprises who require proof of consistent, ongoing compliance.
Many U.S. startups start with Type I to meet customer demands quickly, then move to Type II as they grow.
Why Do Companies Request a SOC 2 Report?
If you’re wondering why customers and partners push for SOC 2, here’s the truth:
- It Reduces Their Risk – They want assurance that working with your company won’t put their data at risk.
- It’s an Industry Standard – SOC 2 has become the “default” security requirement for SaaS and B2B companies in the U.S.
- It Builds Trust – A clean SOC 2 report signals that your company takes security seriously.
- It Speeds Up Sales Cycles – Having a report ready can remove friction during vendor security reviews.
Without it, you may lose deals. With it, you close deals faster.
What’s Inside a SOC 2 Report?
A SOC 2 report isn’t just a certificate—it’s a detailed document that covers:
- Management Assertion – Your statement that controls are in place.
- Independent Auditor’s Opinion – The CPA firm’s conclusion on whether controls meet the Trust Services Criteria.
- System Description – An overview of your company’s systems, infrastructure, and processes.
- Control Tests & Results – Evidence of how your controls are designed (Type I) or performed over time (Type II).
Important: SOC 2 reports are confidential. Unlike ISO 27001 certifications, they are not publicly listed. You share them under NDA with customers or partners.
How to Get a SOC 2 Report
So, how do you actually earn a SOC 2 report? Here’s the step-by-step process U.S. companies follow:
1. Readiness Assessment
Think of this as your practice test. A consultant or auditor reviews your current security controls, policies, and processes to identify gaps.
2. Define Scope
Decide what systems, locations, and Trust Services Criteria will be covered. A narrower scope can save time and cost.
3. Remediate Gaps
Implement missing controls—things like access management, logging, monitoring, and vendor risk management.
4. Engage a Licensed Auditor
Only accredited CPA firms (like Decrypt Compliance) can issue a SOC 2 report. Choose an auditor experienced with SaaS and cloud-native businesses.
5. The Audit
For Type I: Controls are evaluated on one date.
For Type II: Controls are tested over time (3–12 months).
6. Receive Your SOC 2 Report
Once complete, you’ll get your official SOC 2 report—ready to share with customers under NDA.
How Long Does It Take to Get a SOC 2 Report?
- Type I: Usually 3–4 months (faster if you’re already well-prepared).
- Type II: 6–12 months (since it requires testing controls over time).
The timeline depends on your company’s current security maturity and how quickly you can close any gaps.
How Much Does a SOC 2 Report Cost?
While prices vary, U.S. companies typically spend:
👉 For a deeper dive, check out our breakdown of SOC 2 compliance costs.
Common Challenges (and How to Overcome Them)
- Documentation Overload – SOC 2 requires a lot of evidence. Using compliance automation tools can help.
- Limited Team Bandwidth – Assign a project manager to keep the process on track.
- Last-Minute Requests – Don’t wait for a big customer to demand SOC 2. Start early so you’re ready.
Why Your Business Needs a SOC 2 Report
At the end of the day, a SOC 2 report is more than a piece of paper—it’s a business growth tool. With it, you can:
✔️ Build customer trust
✔️ Win enterprise deals faster
✔️ Strengthen your security posture
✔️ Stand out in competitive markets
Final Thoughts
Getting a SOC 2 report may feel intimidating, but with the right roadmap, it’s completely doable. Start with a readiness assessment, scope wisely, remediate gaps, and work with an experienced audit partner.
At Decrypt Compliance, we help U.S. SaaS and cloud-native companies achieve SOC 2 faster—without cutting corners.
