incentX has completed a SOC 2 Type II audit. For a company handling incentive compensation management data, where commission, rebate and royalty records move between systems constantly, the certification answers a question every prospect eventually asks: what happens to our data once it’s in your system?
What the audit covered
The SOC 2 Type II audit follows standards set by the American Institute of Certified Public Accountants (AICPA), and it is one of the more demanding evaluations of a company’s data security and privacy practices.
The difference between the two report types is the part worth understanding. A Type I report assesses whether controls are designed correctly at a single point in time. A Type II report examines whether those controls operated effectively over a period, which means the auditor tests what actually happened rather than what was written down. That is the difference between a policy and a practice.
Johanson Group LLP worked with us through the audit. It covered our processes, our technology and our data management practices, and several of those were refined and strengthened over the course of it.
What it means for customers
Two things, concretely. Sensitive client information held in incentX is protected by controls an independent auditor has tested in operation, not simply reviewed on paper. And the certification applies to the data environment behind the products customers use day to day, including the rebate management software and the rest of the platform.
A SOC 2 Type II report doesn’t certify a company permanently. It covers a defined period, so holding on to it means the controls have to keep working and the audit has to be repeated. That is the ongoing cost of holding other people’s compensation data, and we would rather treat it that way than as a one-time exercise.
incentX handles the numbers that decide what people and partners get paid, so the security standard behind the platform matters as much as the calculation running on top of it. That applies to commissions, rebates, royalties and every other incentive program a customer runs on the system.
About incentX
incentX builds incentive compensation management software for companies that design, run and pay out incentive programs, including commissions, rebates, royalties, chargebacks and trade promotions. The platform gives finance and sales operations teams the calculations, reporting and audit trail those programs depend on, inside a secure and compliant data environment.
Contact us
For more information about incentX and how we can support your incentive compensation management needs, contact us here.
