Blog

The 10-Step Guide to SOC 2 for Mid-Market Organizations

For mid-market organizations, achieving SOC 2 compliance is more than a checkbox exercise—it’s an opportunity to demonstrate your commitment to data security and win the trust of your customers. However, the journey to compliance can feel daunting, especially if your team is juggling competing priorities like growth and operational efficiency.

This guide walks you through the essentials of SOC 2 compliance from a practical, mid-market perspective. Whether you’re just starting to explore SOC 2 or are knee-deep in implementation, this article will help you navigate the process step by step.

For mid-market organizations, achieving SOC 2 compliance is more than a checkbox exercise—it’s an opportunity to demonstrate your commitment to data security and win the trust of your customers. However, the journey to compliance can feel daunting, especially if your team is juggling competing priorities like growth and operational efficiency.

This guide walks you through the essentials of SOC 2 compliance from a practical, mid-market perspective. Whether you’re just starting to explore SOC 2 or are knee-deep in implementation, this article will help you navigate the process step by step.

What is SOC 2 Compliance, and Why Does It Matter?

SOC 2 (System and Organization Controls 2) is a voluntary compliance standard created by the AICPA (American Institute of Certified Public Accountants). It focuses on how organizations handle customer data, ensuring that it’s securely managed based on five “Trust Service Criteria”:

  1. Security: The baseline—data is protected from unauthorized access.
  2. Availability: Systems operate reliably and meet agreed-upon uptime commitments.
  3. Processing Integrity: Data is processed accurately and without errors.
  4. Confidentiality: Sensitive data is properly restricted and protected.
  5. Privacy: Personal information is collected and used appropriately.

For mid-market organizations, SOC 2 compliance is a competitive advantage. It reassures customers that their data is safe, which can shorten sales cycles and open doors to enterprise-level deals.

Step 1: Understand the Types of SOC 2 Reports

SOC 2 offers two report types, and knowing which one you need is critical:

  • Type I: Focuses on the design of your controls at a specific point in time. This is often seen as the starting point for organizations new to SOC 2.
  • Type II: Evaluates the operating effectiveness of your controls over time, typically six months to a year. This is more comprehensive and the gold standard for demonstrating compliance.

Tip: Many organizations start with a Type I report as a foundation, then build toward a Type II.

Step 2: Map Out Your SOC 2 Scope

SOC 2 compliance isn’t one-size-fits-all—it’s tailored to your business operations. Start by defining your scope:

  • Core Systems & Services: What systems store or process customer data?
  • Trust Service Criteria: Which criteria are relevant to your organization? While “Security” is mandatory, others like “Confidentiality” or “Availability” may depend on customer contracts or industry expectations.
  • Boundaries: Identify what’s in-scope versus out-of-scope. For instance, if certain business units don’t interact with customer data, they may not need to be included.

Pro Tip: Keep your scope manageable. Over-scoping can significantly increase costs and complexity.

Step 3: Perform a Gap Analysis

Before diving into implementation, it’s crucial to understand where you stand. A gap analysis compares your current security posture against SOC 2 requirements, revealing areas for improvement.

During a gap analysis, focus on:

  • Policies & Procedures: Do you have documented security policies in place?
  • Access Controls: Are you restricting access based on job roles?
  • Incident Response: Do you have a plan for responding to security incidents?
  • Monitoring: Are you tracking system activity to detect unauthorized access or anomalies?

Tip: Many mid-market organizations engage a consultant or use software tools to streamline the gap analysis process.

Step 4: Implement Controls to Address Gaps

Based on your gap analysis, you’ll need to implement or refine controls. Controls are safeguards that ensure you meet SOC 2 requirements.

Here are examples of key controls mid-market organizations often focus on:

  • Encryption: Encrypt sensitive data at rest and in transit.
  • Access Management: Enforce strong passwords, multi-factor authentication (MFA), and least-privilege principles.
  • Logging & Monitoring: Use tools like SIEMs (Security Information and Event Management) to track and analyze system activity.
  • Vendor Management: Evaluate third-party vendors for security risks.

Pro Tip: Aim for a balance between automation and manual processes. Automation reduces human error and improves consistency.

Step 5: Build Documentation

SOC 2 isn’t just about what you do—it’s also about how well you document it. Auditors will expect to see clear records of your controls, policies, and processes.

Key documents include:

  • Information Security Policy: Your high-level security principles.
  • Access Control Policy: How you manage and restrict access.
  • Incident Response Plan: Steps to take in case of a data breach.
  • Change Management Procedures: How you handle updates to systems and software.

Documentation not only helps with audits but also ensures your team is aligned on security practices.

Step 6: Conduct a Readiness Assessment

Once you’ve implemented the necessary controls and documented your processes, it’s time for a readiness assessment. Think of this as a “practice audit” to identify any lingering gaps before the official SOC 2 audit.

Many organizations hire third-party assessors or use specialized software to simulate an audit. This step ensures you’re prepared and can save significant time and money during the actual audit process.

Step 7: Choose the Right Auditor

Selecting the right audit firm is crucial. Look for an auditor experienced with mid-market organizations in your industry. Ideally, they should:

  • Understand your business model and challenges.
  • Be communicative and collaborative.
  • Offer competitive pricing without sacrificing quality.

Pro Tip: Ask potential auditors for references and examples of how they’ve worked with businesses similar to yours.

Step 8: The Audit Process

For a SOC 2 audit, your auditor will evaluate your controls against the Trust Service Criteria in your defined scope. If you’re going for a Type II report, the auditor will examine evidence of controls over the monitoring period (e.g., six months).

Expect the audit to include:

  • Interviews: Auditors may interview your team about security practices.
  • Evidence Review: This includes reviewing logs, screenshots, or reports proving that controls are operational.
  • System Walkthroughs: Auditors might assess how your systems handle real-world scenarios, like a password reset request or an incident response drill.

Step 9: Address Auditor Feedback

Even the best-prepared organizations often receive feedback from auditors. Treat this as an opportunity for improvement. Address any identified issues promptly to ensure your final SOC 2 report reflects your efforts.

Step 10: Maintain Compliance

Achieving SOC 2 compliance is a milestone, but the work doesn’t stop there. To maintain compliance:

  • Regularly review and update controls to address evolving risks.
  • Conduct internal audits or readiness assessments annually.
  • Ensure new hires are trained on security policies and procedures.
  • Stay informed about changes in the SOC 2 framework.

Pro Tip: Use compliance automation tools to track, monitor, and maintain your controls. These tools can save significant time and reduce errors.

Key Challenges for Mid-Market Organizations (and How to Overcome Them)

  1. Limited Resources: Many mid-market companies don’t have dedicated compliance teams. Solution: Leverage SOC 2-specific tools and consultants to fill resource gaps.
  2. Competing Priorities: Growing companies often focus more on sales and operations than compliance. Solution: Treat SOC 2 as a sales enabler, which helps align it with your business goals.
  3. Vendor Risks: Third-party vendors can introduce vulnerabilities. Solution: Include vendor risk management as part of your SOC 2 program.

The ROI of SOC 2 Compliance

While SOC 2 compliance requires an upfront investment, it pays dividends in several ways:

  • Increased Customer Trust: Winning deals with security-conscious clients.
  • Competitive Advantage: Standing out in crowded markets.
  • Operational Discipline: Improved processes that make your organization more resilient.

 

SOC 2 compliance can feel overwhelming, but with the right approach, it’s entirely achievable for mid-market organizations. By focusing on manageable steps, leveraging the right tools, and fostering a culture of security, you can turn compliance into a strategic asset.

Remember: SOC 2 is more than a report—it’s a commitment to protecting your customers and their data. That’s something your team can take pride in, and your customers will thank you for.

The tool is very powerful and by using the various modules, we can centralize a lot of oversight and governance of our issues, vulnerabilities, risks, vendors, control framework, compliance and risk assessments. Given the flexibility of the tool, we can tailor it to meet our specific needs. I would say the biggest advantage and differentiator with TruOps is the support and expertise you get along with the tool. The support staff is extremely responsive, helpful and very knowledgeable in risk management. Not only do you get support resources that are always willing and ready to help, but you get high quality risk advice and guidance.

Schedule a Demo

All it takes is 30 minutes to see how TruOps will get you to assessments and beyond.

Sign up to our newsletter to get monthly cyber recaps, recommendations, and offers.
Truops
Copyright© 2025 TruOps LLC, All rights reserved.