An enterprise customer is ready to proceed: your software product has passed the technical evaluation and pricing discussions are complete. Then procurement requests your latest SOC 2 report. You don’t have one.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. Security assurance takes time, and a rushed, wrong assessment may not satisfy the customer’s requirements. The way forward begins with understanding what the buyer expects and planning backward from the deadline.
A calm first step is to find out exactly what was asked for, and by when. Ask before assuming: a request sometimes leaves more room than it first seems to.
Know Which SOC 2 Report the Buyer Is Asking For
Different SOC 2 reports provide different levels of assurance. Knowing the distinction between SOC 2 type 1 vs type 2 matters when you respond to enterprise security requirements. Whether relevant controls are suitably designed at a particular date is what Type 1 evaluates. Type 2 examines their design and operating effectiveness over a defined period.
An enterprise buyer may accept Type 1 temporarily, but many specifically request Type 2 because it provides evidence covering actual operations. Before commissioning an examination, confirm the report type, required scope, and acceptable reporting dates with the customer.
The report type, scope, and dates drive both the plan and the budget, so write the answers down. If the customer’s requirements are unclear, ask for the exact wording in the contract or the security questionnaire.
The Observation Period Sets Your Timeline
A SOC 2 type 2 examination cannot be completed simply by preparing documentation and scheduling an auditor. Relevant controls must be operated by the organization throughout the reporting period. An initial examination may cover a period of three months, whereas subsequent reports commonly cover longer ones.
Access reviews, security training, or change approvals that your business needs to demonstrate must occur and be documented during the applicable window. Planning backward from a customer deadline helps identify whether the requested report can realistically be delivered on time.
When the deadline can’t be met within the observation period, say so to the customer early. Hearing about the gap early, some customers are willing to discuss interim steps such as a dated plan.
What Exactly Are You Paying For?
Although SOC 2 does not issue certificates, businesses frequently search for SOC 2 type 2 certification.
A licensed CPA firm performs an independent examination against the applicable AICPA Trust Services Criteria and issues an attestation report. The report covers the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
Often under a confidentiality agreement, that document is what customers typically review. A SOC type 2 report, too, relates to a specific period in the past. Changes made afterward aren’t automatically covered by its assurance.
Get Clear on Costs Before Starting
SOC 2 preparation involves more than an independent examination fee. Businesses may need assistance developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing.
For businesses with up to 50 employees, Siege Cyber advertises a SOC 2 compliance package at AUD $2,750 per month, excluding GST, over twelve months. The advertised offer applies to eligible contracts signed by December 31, 2026. Its package includes compliance preparation, training, a compliance platform, and external penetration testing.
Billed separately is the independent CPA examination, with Siege Cyber indicating typical fees of approximately AUD 5,000–15,000, depending on scope and complexity. Before committing, confirm current pricing, eligibility, and deliverables.
Dealing With a Report That Has Aged
Imagine a customer requesting assurance in October when your Type 2 report covers January through June. The report doesn’t look at the months in between. Relevant changes since the reporting period ended can be described in a management-issued bridge letter, which some customers may accept.
Acceptance depends on the customer’s requirements, however, and a bridge letter does not replace an independent examination. Rather than assuming an older report will satisfy procurement, discuss reporting gaps early.
Make Your Compliance Investment Work Beyond One Contract
Siege Cyber provides Australian-based SOC 2 readiness support with fixed-price consulting packages and independent audit coordination. The most useful approach for growing software companies is to connect compliance preparation with actual operational responsibilities.
Give each control an owner, keep security records, and set a reporting schedule that supports future customer reviews. A successful SOC 2 project should leave your business better prepared for the next enterprise opportunity, not simply help it respond to the current request.
Keeping the evidence you collect organized from the start also makes the next audit cycle less of a scramble. Review responsibilities and schedules regularly so controls keep operating between audits.