Procurement Glossary

SOC 2

SOC 2 means security control report for vendors. Learn why it matters when buying, renewing, or replacing business software.

Definition

SOC 2 refers to security control report for vendors. In SaaS procurement, this term can affect security approval, total cost, administrator workload, renewal timing, or the ability to switch vendors later.

Questions to ask vendors

  • Is this capability included in the plan being quoted?
  • Does it require an add-on, higher edition, or implementation service?
  • Which team owns configuration and ongoing review?
  • Can the vendor document how this works before contract signature?