SOC2 Compliance Statistics

Goals

Obtain statistics on the total spending on SOC2 compliance in the US per year or other related data points. Determine also the number of B2B businesses founded each year in the US as a proxy for the demand of SOC2 compliant software.

Early Findings

SOC2 Compliance Cost

  • When taking steps to fulfill the SOC2 compliance checklist, it is recommended to put in place realistic goals.
  • It was also advised to take into account the time and money that will be spent toward an SOC 2 certification.
  • There are also several roles and expenses that need to be considered when working towards an SOC 2 certification.
  • For the auditor role, companies will need to spend around $17,000.
  • A project leader also need to be on-boarded at a cost of $75,000 for 6 months.
  • It will be best to allot two weeks to conduct a readiness assessment with all the people involved.
  • For the legal review, the estimated cost is around $10,000 for two weeks.
  • Companies also need to spend on tools to facilitate the process.
  • The estimated amount for the tools is $30,000 for two months.
  • A security training also need to be undertaken for $5,000 for 1 week.
  • Given all of these expenses, the total estimated cost to prepare for an SOC 2 audit is $147,000 for six months.

B2B Company Count

  • In 2019, there are around 56 B2B businesses that were founded.

Proprietary Database Search Results

In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.

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