Otso Embarks on SOC 2 Compliance Journey

Otso Embarks on SOC 2 Compliance Journey

We are excited to announce that Otso Corporation has officially been certified "audit ready" by begun the process of achieving SOC 2 Type I and Type II compliance. This significant step underscores our unwavering commitment to maintaining the highest standards of security and privacy for our stakeholders in the commercial real estate industry.

Why SOC 2 Compliance?SOC 2 (Service Organization Control 2) is a framework designed to ensure service providers securely manage data to protect the interests of their organization and the privacy of their clients. This compliance is crucial, particularly in industries like commercial real estate where the integrity of data handling and security protocols directly impacts trust and reliability in business transactions.

Importance in Commercial Real Estate

In the realm of institutional commercial real estate (CRE)—spanning office, retail, and industrial sectors—security and privacy are not just regulatory requirements but foundational to business operations. Safeguarding prospective tenants data is an essential part of an institutional ownership groups commitment to their prospects. The process of providing sensitive data (such as financials, credit and background information) has been far too reliant on outdated and insecure methods of collect and diligence. Key executives in these areas are increasingly prioritizing SOC 2 compliance to:

• Enhance Trust: By adhering to recognized security standards, companies assure prospective tenants and investors of their commitment to data protection and operational integrity.
• Mitigate Risks: Compliance helps in identifying vulnerabilities and establishing robust security measures, thus reducing the risk of data breaches and risk.
• Boost Competitive Edge: In a market with clientele increasingly requiring confidentiality and security, SOC 2 compliance will serve as a differentiator, highlighting your organization's dedication to best security practices.

Otso sits as a key cog in a savvy institutional owner's commitment to their clients and prospects security posture. Our platform and company are built from the ground up to satisfy compliance requirements across SOC2 verticals. Every application collected and reviewed by Otso is a step towards a safer, lower risk information security reality for our clients (not to mention a better decisioning and user experience for all involved!). Here are just a few reasons why CRE owners are adopting our platform org-wide.

Our Journey and What It Means for You

‍Otso Corporation has entered into a formal audit process to achieve both SOC 2 Type I and Type II certifications. Type I will demonstrate our systems and design controls as of a specific date, while Type II will assess the operational effectiveness of these controls over a period. We understand the importance of transparency in this journey. To keep you informed and provide insights into our ongoing compliance processes, we invite you to visit our Trust Center. For more information about our services and our dedication to security and operational excellence, please visit our main website at otso.io.

Looking Ahead

‍The move to SOC 2 compliance is more than a regulatory milestone; it is part of our broader strategy to enhance service reliability and security, ensuring that we continue to meet and exceed the evolving needs of the commercial real estate sector. We are proud to lead by example in adopting such standards, reinforcing our role as industry's trusted partner in leasing due diligence for enterprise ownership groups.

We appreciate the trust and collaboration of all our clients and partners as we undertake this pivotal compliance journey. For further details or to follow our progress, please visit our Trust Center, and do not hesitate to reach out with any questions or feedback.

If you are interested in seeing how we can reduce risk across your organization while significantly streamlining leasing pipelines and asset management verticals in your organization, let's talk.

Tags: #SOC2Compliance #CommercialRealEstate #DataSecurity #InstitutionalCRE

@OtsoCorp @TrustCloud

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