Teamwork Commerce receives SOC 2 Type 1 compliance

Tuesday 16 May 2023 10:31 CET | News

Global retail management software Teamwork Commerce has announced the receipt of SOC 2 Type 1 compliance for all Teamwork Commerce Premier Edition customers.


As per the information provided in the press release, the accreditation helps serve as a benchmark for an organisation’s ability to safeguard the data of its clients.

SOC compliance and what this means for Teamwork Commerce

SSAE (Statement on Standards for Attestation Engagements) No. 21 System and Service Organization Controls (SOC) is a set of standards developed by the American Institute of Certified Public Accountants (AICPA). The compliance audits are carried out by an independent third-party service auditor, with SOC 2 compliance being a rigorous process that involves an extensive evaluation and testing of an enterprise’s policies, procedures, and safeguards in relation to data security, availability, and confidentiality.

Teamwork Commerce customers are already taking advantage of the comprehensive security measures that were implemented during the compliance process. SOC 2 compliance helps prove that a company adheres to the best practices that concern data security, availability, and confidentiality and that it represents said practices in a fair manner. What is more, SOC 2 compliance indicates that a company prioritises data security and has had appropriate safeguards implemented.

eamwork Commerce has announced the receipt of SOC 2 Type 1 compliance for all Teamwork Commerce Premier Edition customers.

Commenting on this, Tom Godfrey, VP of Technical Services at Teamwork Commerce said that the company recognises the importance of data security for retailers, especially in the current context where cyberattacks together with data breaches are becoming increasingly common.

Per their statement, when talking about customer data as well as server and application access, Teamwork Commerce looks to ensure that security, availability, and confidentiality are built into its product and processes, something t the SOC 2 readiness programmer helps confirm. The spokesperson added that the company is committed to improving its platform and processes to provide ‘exceptional’ customer service.

The announcement further highlights that the organisation has the commitment to work towards achieving SOC 2 Type 2 compliance, which consists of not only implementing the required controls but also demonstrating that they have been in place and effective continuously for a 12-month period.

What is more, Teamwork Commerce is working towards achieving ISO 27001 certification, an international standard that similarly offers a framework for information security management systems and requires a broad approach to risk management and data protection.

Teamwork Commerce strategy and offering

An omnichannel solution, Teamwork Commerce provides retailers with point-of-sale, order management, inventory control, CRM, and analytics, while simultaneously boasting an ecosystem of integrations with solutions to make unified commerce a simplified activity.

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Keywords: compliance, online security, cybersecurity, data privacy, data protection, financial services, merchants, ecommerce, retail, fintech, data analytics, regulation, risk management
Categories: Fraud & Financial Crime
Companies: Teamwork Commerce
Countries: World
This article is part of category

Fraud & Financial Crime

Teamwork Commerce

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