IQNavigator First in Industry to Achieve SSAE 16 SOC 2 and SOC 3 Security Audits SaaS Provider IQNavigator Becomes First Company in the Services Procurement Industry to be issued SSAE 16 Type II SOC 2 and 3 Reports
DENVER, Dec. 19, 2012 /PRNewswire/ -- IQNavigator, the leading provider of services procurement and external workforce solutions to Global 2000 companies, today announced it has achieved SSAE 16 SOC 2 and SOC 3 compliance for Security Principles following a thorough analysis by a Big-Four auditing firm. Following standards and guidelines issued by the American Institute of Certified Public Accountants (AICPA) that adhere with the most stringent international standards, IQNavigator's successful completion of these audits re-affirms the company's commitment to security in its Software-as-a-Service (SaaS) solutions. IQNavigator becomes the first company in the services procurement (also known as VMS) industry to successfully complete and publish its SSAE 16 SOC 2 and SOC 3 audits.
"IQNavigator's platform is built for performance, scalability and security, and this latest industry-first achievement is a direct result of our unmatched R&D investment and SaaS know-how," said John F. Martin, CEO of International Markets and Chief Product Officer at IQNavigator. "IQNavigator has once again demonstrated our commitment to our clients with certified support of their critical security, technical and business needs while also meeting their Sarbanes-Oxley requirements."
SOC 2 and SOC 3 Reports
In contrast to the SOC 1 audit, where criteria is self-defined, the SOC 2 and SOC 3 evaluate IQNavigator against pre-defined control criteria based on the Trust Service Principles for security. The SOC 2 reports on the suitability of design and effectiveness of the security Trust Service Principles while the SOC 3 report contains a letter and summary opinion on the effectiveness of data center controls from the auditor.
IQNavigator is the proven leader in services procurement solutions, helping global enterprises better manage all types of procured services and their external workforces around the world. IQNavigator's cloud-based VMS software processes tens of billions of dollars in yearly services spend, enabling clients to intelligently manage and optimize the cost-effectiveness, compliance, visibility and efficiency of complex services procurement and contingent workforce programs. For more than a decade, IQNavigator has been the leader in providing innovative technology solutions for managing companies' procured services including statement of work and project-based consultants, contractors, temporary workers and other contingent workers. For more information about IQNavigator and how its industry-leading offerings such as IQNtelligence are helping many of the world's most respected companies, visit www.IQNavigator.com.