Contract Logix Achieves SOC 2 Type II Compliance Certification in 2020
Recognition confirms data-driven contract lifecycle management provider’s unwavering commitment to data security and protecting customers’ sensitive contract data
Lowell, MA – December 10, 2020 – Contract Logix, a leading provider of data-driven contract management software, today announced that it has successfully completed its SOC 2 Type II audit by KirkpatrickPrice with zero exceptions. The successful completion of the rigorous evaluation and auditing process of SOC 2 Type II further demonstrates Contract Logix’s commitment to taking a security-first approach with its contract lifecycle management software.
The SOC 2 Type II audit was established by the American Institute of Certified Public Accountants (AICPA) and defines criteria for managing customer data based on its Trust Services Criteria. As part of the extensive and comprehensive auditing process, KirkpatrickPrice reviewed and tested Contract Logix’s internal controls and confirmed that they meet the AICPA’s Trust Services Criteria for security, availability, and confidentiality. The SOC 2 Type II compliance validates Contract Logix’s commitment to delivering high quality, secure services to its clients and their customers, partners, and vendors.
Key Facts:
- SOC 2 Type II evaluates a company’s policies and procedures over a specified time period in order to ensure continued compliance and reliability to provide the highest level of customer data security assurance.
- Contract Logix’s solution is hosted in the highly secure Microsoft Azure cloud, which also meets or exceeds the SOC 2 Type II requirements. In addition to the SOC 2 Type II compliance, Contract Logix provides a powerful set of security capabilities in the software including HIPAA compliance, FISMA compliance, NIST 800-171, roles and feature-based permissions, data encryption at rest and in transit, disaster recovery, logical separation of all customer data, multi-factor authentication (MFA), single sign-on (SSO), and other security-related functionality.
- Safeguarding sensitive and regulated contract data is critical to ensuring a highly secure environment to managing legal agreements with customers, suppliers, partners, and more. Contract Logix’s SOC 2 Type II compliance is another proof point to assuring its customers that their data is protected.
Executive Comments:
- “The SOC 2 Type II audit is a demanding exercise but one we undertook because of its importance. The trust services criteria is extremely important to our customers, and one of the main drivers we hear from prospects for adopting contract management software is the desire to increase security and compliance to reduce risk. This is why we employ the latest industry security certifications, practices, technology, and processes to ensure the protection of all of their contract information.”
- Tim Donaghy, CTO, Contract Logix
- “Contracts are the backbone of a business. The contractual agreements an organization has with suppliers and customers, among others, contain some of its most sensitive information. If it falls into the wrong hands, the financial, legal, and brand consequences can be devastating. We’re proud of our SOC 2 Type II compliance and see this as another opportunity to showcase our commitment to protecting the data that’s most important to our customers.”
- Rick Ralston, CEO, Contract Logix
- “Completing a SOC 2 audit with zero exceptions is an accomplishment that Contract Logix should be proud of. Contract Logix delivers trust-based services to their clients, and by communicating the results of this SOC 2 audit, their clients can be assured of their reliance on Contract Logix controls.”
- Joseph Kirkpatrick, President, KirkpatrickPrice
Additional Information:
About Contract Logix
Contract Logix is a longtime leader, innovator, and provider of intelligent and data-driven contract lifecycle management software. The company’s software empowers legal, administration, IT, procurement, finance, and sales professionals across dozens of industries to digitally draft, negotiate, approve, execute, and manage their contracts. Hundreds of brands have partnered with Contract Logix to automate and streamline their contracting processes while minimizing risk, increasing compliance, and driving profitability. For more information about Contract Logix, visit https://www.contractlogix.com and follow us on LinkedIn.
