Your software product has passed the technical evaluation, pricing is settled, and an enterprise customer is ready to go ahead. Procurement then requests your latest SOC 2 report. You don’t have one.
For Australian SaaS companies entering larger markets, this situation creates an immediate challenge. Because security assurance takes time, rushing into the 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.
Confirm Which SOC 2 Report the Customer Needs
Different SOC 2 reports provide different levels of assurance. The distinction between SOC 2 type 1 vs type 2 matters when responding to enterprise security requirements. Type 1 evaluates whether relevant controls are suitably designed at a particular date. Over a defined period, Type 2 examines both their design and their operating effectiveness.
Type 1 may be accepted temporarily by an enterprise buyer, but many specifically request Type 2, since it provides evidence covering actual operations. Prior to commissioning an examination, confirm with the customer the report type, the required scope, and acceptable reporting dates.
The report type, scope, and dates drive both the plan and the budget, so write the answers down. Should the customer’s requirements be unclear, ask to see the exact wording in the contract or the security questionnaire.
Work Out Your Timeline From the Observation Period
A SOC 2 type 2 examination cannot be completed simply by preparing documentation and scheduling an auditor. The organization must operate its relevant controls throughout the reporting period. An initial examination may cover a period of three months, whereas subsequent reports commonly cover longer ones.
Those activities must occur and be documented during the applicable window if your business needs to demonstrate access reviews, security training, or change approvals. Whether the requested report can realistically be delivered on time becomes clearer when you plan backward from a customer deadline.
If the deadline is tighter than the observation period allows, tell 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?
Businesses frequently search for SOC 2 type 2 certification, although SOC 2 does not issue certificates.
A licensed CPA firm issues an attestation report after performing an independent examination against the applicable AICPA Trust Services Criteria. In the report you’ll find a description of the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
It’s that document, often shared under a confidentiality agreement, that customers typically review. A specific historical period is also what a SOC type 2 report relates to. It doesn’t automatically give assurance about every change made afterward.
Know the Costs Before Starting
SOC 2 preparation costs more than just an independent examination fee. Businesses may need assistance developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing.
Siege Cyber advertises a SOC 2 compliance package priced at AUD $2,750 per month, excluding GST, over twelve months for businesses with up to 50 employees. The advertised offer applies to eligible contracts signed by December 31, 2026. Compliance preparation, training, a compliance platform, and external penetration testing are included in its package.
The independent CPA examination is billed separately; Siege Cyber indicates typical fees of approximately AUD 5,000–15,000, depending on scope and complexity. Confirm current pricing, eligibility, and deliverables before committing.
What to Do When Your SOC 2 Report Has Aged
Imagine a customer requesting assurance in October when your Type 2 report covers January through June. The report does not examine the intervening months. Relevant changes since the reporting period ended can be described in a management-issued bridge letter, which some customers may accept.
Still, whether it’s accepted depends on the customer’s requirements, and a bridge letter does not replace an independent examination. Discuss reporting gaps early rather than assuming an older report will satisfy procurement.
Make Your Compliance Investment Work Beyond One Contract
With fixed-price consulting packages and independent audit coordination, Siege Cyber provides Australian-based SOC 2 readiness support. The most useful approach for growing software companies is to connect compliance preparation with actual operational responsibilities.
Assign control owners, maintain security records, and establish a reporting schedule that supports future customer reviews. Leaving your business better prepared for the next enterprise opportunity, not just answering the current request, is what a successful SOC 2 project should do.
Keeping the evidence you collect organized from the start also makes the next audit cycle less of a scramble. Reviewing responsibilities and schedules at regular intervals helps controls keep operating between audits.