The new year is just around the corner, but we have a few more 2016 accomplishments to celebrate at Namely. We are pleased to announce that Namely has achieved SOC 1 Type 2 certification. The news comes after more than a year of hard work and an exhaustive round of auditing from accounting firm Ernst & Young. The certification is indicative of our ongoing commitment to client security and sound business practices.
Service Organization Controls (SOC) reports are used to evaluate the controls within an organization, as they relate to risk assessment, financial reporting, and other key areas. The standards are set by the American Institute of Certified Public Accountants (AICPA) and help ensure compliance with financial regulations like the Sarbanes-Oxley Act. In short, SOC reports help establish the credibility of a service organization to the broader public.
This year’s certification is only part of our commitment to operational excellence. We'll continue to run our processes accordingly and renew our certification year after year.
We’re committed to helping midsize businesses build better workplaces. For a company to entrust us in that journey, they need to know we have a solid foundation. This month’s announcement makes that clear and allows us to continue pushing the limits of what great HR technology can do for companies nationwide.