Menlo Park, CA – July 20 , 2020 – Early stage artificial intelligence software company Praisidio™, whose mission is to help protect enterprise companies and improve employee work life with data-driven, augmented intelligence to manage talent risks across the workforce announced today that it has successfully completed a System and Organization Controls (SOC) 2® Type II Audit examination for its platform.
Praisidio retained the Certified Public Accounting (CPA) firm The Cadence Group for its SOC 2® audit work after an intensive search based on their reputation as a leading risk advisory and compliance firm with expertise in SaaS cloud delivery platforms. The successful completion of this voluntary engagement illustrates Praisido’s ongoing commitment to create and maintain a secure operating environment for its enterprise clients’ confidential data.
Procaire™ is an artificial intelligence-based software-as-a-service (SaaS) Enterprise Risk Management (ERM) solution purpose-built to use meta-data and analytics to mitigate employee attrition risk in the modern enterprise. Procaire identifies and displays risk factors that adversely impact talent risk and engagement and suggests responses designed to address them and workflows actions to ensure accountability. Procaire also serves as a system of record for talent data to support audit and compliance requirements.
SOC 2® engagements are performed in accordance with the American Institute of Certified Public Accountants’ (AICPA) AT-C 205, Reporting on Controls at a Service Organization and based on the trust service principles outlined in the AICPA Guide, Reporting on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or Privacy. The SOC 2® Type II report is performed by an independent auditing firm and is intended to provide an understanding of the service organization’s suitability of the design and operating effectiveness of its internal controls. A service organization may select any or all of the trust service principles applicable to their business and Praisidio chose to report on security in this first audit. The successful completion of this voluntary engagement illustrates Praisidio’s ongoing commitment to create and maintain a secure operating environment for its clients’ confidential data.
The Cadence Group’s testing of Praisidio’s controls included examination of policies and procedures regarding network connectivity, firewall configurations, systems development life cycle, computer operations, logical access, data transmission, backup and disaster recovery, and other critical operational areas of their business. Upon completion of the audit, Praisidio received a Service Auditor’s Report with an unqualified opinion demonstrating that their policies, procedures, and infrastructure meet or exceed the stringent SOC 2® criteria.
Praisidio is a venture capital backed Enterprise Risk Management AI software company. Founded in 2019 and headquartered in Silicon Valley, our patent pending product Procaire is the first of its kind Talent Risk Management platform which provides early employee attrition risk detection, assessment, prioritization, explanations, and action workflows to materially improve retention and employee work life.