BALTIMORE, April 13, 2021 /PRNewswire/ -- Arena Analytics, the market leader in applying artificial intelligence to workforce challenges, announced today that the company has successfully completed its SOC 2 Type I examination. Arena opted to undergo this voluntary audit in order to ensure it met security standards beyond compliance and regulatory measures.
The examination was administered by the independent CPA firm A-LIGN in compliance with The American Institute of Certified Public Accountants (AICPA) Trust Services Principles pertaining to security. The report provides assurance to customers that Arena Analytics adheres to these stringent, internationally recognized security standards.
SOC 2 audit reports focus on a Service Organization's non-financial reporting controls as they relate to Security, Availability, Confidentiality, and Processing Integrity of the systems the service organization uses to process customer data. The audit also evaluates the confidentiality and privacy of the information processed by these systems.
Myra Norton, Arena's President and COO, commented, "This is a major accomplishment for Arena and demonstrates our continued commitment to security and privacy. It further validates that we have the appropriate controls in place to mitigate risks related to the services we provide to our customers."
Arena was founded to reduce bias, help organizations optimize their workforce, and match individuals to opportunities where they will thrive. Given its integration with Applicant Tracking Systems and analysis of job candidate's data, the company is committed to the highest standards of integrity, security and transparency. In addition to this comprehensive Soc 2 Type 1 examination, Arena launched an independent AI Ethics board to continually integrate an ethical approach to its ongoing product development processes.
SOC 2 Type I Examination
The AICPA created its SOC reporting framework to provide an independent evaluation of a service provider's controls linked to defined operational and compliance functions. The SOC guidelines provide a benchmark for service organizations to demonstrate implementation of baseline control procedures and practices.
The SOC 2 Type I examination puts explicit, stringent requirements and guidelines in place for leading service providers to adopt and expand upon. For a company to pass the SOC 2 examination, it must have key policies, controls and strategies that protect customers' data pursuant to the SOC 2 specification, which are based around a set of criteria called Trust Principals. This SOC 2 Type I examination has therefore demonstrated that the company's systems are designed to keep its customers' sensitive data secure. Such performance, reliability and security is essential when working with service providers.
About Arena Analytics: Arena applies predictive analytics and machine learning to solve talent acquisition challenges. Learning algorithms analyze a large amount of data to predict with high levels of accuracy the likelihood of different outcomes occurring, such as someone leaving, being engaged, having excellent attendance, and more. By revealing each individual's likely outcomes in specific positions, departments, and locations, Arena is transforming the labor market from one based on perception and unconscious bias, to one based on outcomes. Arena is currently growing dramatically within the healthcare industry and expanding its offerings to other people-intensive industries. For more information contact info@arena.io.
Contact:
Dvora Inwood,
dinwood@arena.io
SOURCE Arena
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