Stimulus Achieves SOC 2 Type 1 Certification
Philadelphia, PA, November 2, 2022 — Stimulus, a relationship intelligence (SaaS) startup in the supply chain space, announced it is officially SOC 2 Type 1 certified. Stimulus makes the purchasing process more transparent and helps various stakeholders collaborate to achieve their corporate goals, such as improving diverse purchasing. The Stimulus Score evaluates suppliers to provide an objective view of performance, which provides a 360 view for buyers to engage better with current or future vendors.
To achieve this critical third-party assessment, Stimulus underwent a rigorous independent audit by ByteChek Assurance to ensure that Stimulus’ security protocols and use of data meet strict data security requirements. SOC 2 is a voluntary reporting framework for service organizations, developed by the American Institute of CPAs (AICPA), which specifies how organizations should manage customer data, based on the following Trust Services Criteria: security, availability, processing integrity, confidentiality, and privacy.
Stimulus was founded by Tiffanie Stanard, when she saw the need to build more valuable supplier relationships and level the playing field for all companies to receive business opportunities. Stimulus is based in Philadelphia, PA and provides a cloud-based software to customers across the U.S.
Recently, Stimulus closed their oversubscribed $2.5 million seed round led by Black Ops Ventures. The company has been making leaps and strides across both the SaaS and supply chain industries thanks to a dedicated team of leaders, data analysts, and supply chain experts. Now, the company has proven its validity and consideration for its customers once more through this new achievement.
“I’m proud of my team and the platform that we’ve built for achieving SOC 2 Type 1 compliance. To successfully complete the SOC 2 process is no small feat and we are thankful to show our partners, customers, and the supply chain industry the importance we place on building a product that they can trust. New security standards will arise in the coming years and some regulations will become even more rigorous, achievements like SOC 2 are becoming more important for growing companies. Stimulus is dedicated to protecting our customers’ data (current and future) ” ~ Tiffanie Stanard, CEO and Founder of Stimulus.
The Stimulus SOC 2 Type 1 report will provide customers detailed information about the security, availability, and integrity of the systems used to process users’ data, and the confidentiality and privacy of the information those systems process. This report helps customers and partners assess Stimulus’ systems and the suitability of the design of the company’s controls, as they can gain insight into Stimulus’ security processes, internal governance and risk management processes, and regulatory oversight.
With security and data protection being a main concern for companies in the modern economic climate, this new achievement will help Stimulus to prove its efficacy and integrity in order to continue to expand its reach. With a set of values that include building better relationships, trust and transparency, and empowering the community, the SOC 2 accreditation only furthers these initiatives for Stimulus and helps them solidify their reputable position in the supply chain market.
To learn more about what makes the Stimulus Relationship Intelligence Platform SOC2-worthy, visit www.getstimulus.io today!
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About Stimulus
The Stimulus’ Relationship Intelligence Platform combines data insights, relationship-building tools, and a proprietary score to help companies make the best purchasing decisions and optimize their supplier ecosystem. Stimulus is VC-backed with amazing investors including Morgan Stanley, Northwestern Mutual Future Ventures, Darco Capital, REFASHIOND Ventures, Plain Sight Capital, Bronze Valley and more.