Palette Software AB has completed a Type 2 SOC 2 examination for the Online Cloud Service Operation for the review period from January 1, 2021, to October 31, 2021. The examination was performed by the independent CPA firm Schellman & Company, LLC.
Also Read: SEI Enhances Advisor Technology Platform and Advances Cloud Transformation
By engaging an independent CPA to examine and report on Palette’s controls, Palette can respond to meet the needs of user entities and have an objective evaluation of the effectiveness of controls that address operations and compliance. Palette has complied with the following SOC reports:
- SOC 2 – Reporting on controls at a service organization relevant to security and availability.
- The Trust Services categories that Palette are evaluated against as part of the SOC 2 examination are of the following categories: * Security – Information and systems are protected against unauthorized access, unauthorized disclosure of information, and damage to systems that could compromise the availability, integrity, confidentiality, and privacy of information or systems and affect the entity’s ability to meet its objectives.
* Availability – Information and systems are available for operation and use to meet the entity’s objectives.
Palette Software is committed to performing SOC 2 examinations each and every year. Palette also completes a GDPR compliance attestation.
Palette’s AP automation solution delivers invoice data capture, an accounts payable approval workflow, automated PO matching, a searchable invoice archive and a complete time-stamped audit trail for investigations. The software reduces invoice processing costs, improves approval cycle times and reduces manual work for accounts payable teams.