Your software product has passed the technical evaluation, pricing discussions are complete, and an enterprise customer is ready to proceed. Then procurement asks for your latest SOC 2 report. You don’t have one.
When Australian SaaS companies enter larger markets, this situation presents an immediate challenge. Because security assurance takes time, rushing into the wrong assessment may not satisfy the customer’s requirements. Start by understanding what the buyer expects, then plan backward from the deadline.
The calm first step is to establish exactly what was asked for and the date it’s needed. The request can leave more room than it first appears to, so ask before you assume.
Confirm Which SOC 2 Report the Customer Needs
Not every SOC 2 report provides the same level of assurance. The distinction between SOC 2 type 1 vs type 2 matters when responding to enterprise security requirements. Type 1 looks at whether relevant controls are suitably designed as of a particular date. Type 2 examines their design and operating effectiveness over a defined period.
Many enterprise buyers specifically request Type 2 because it provides evidence covering actual operations, though some may accept Type 1 temporarily. Confirm the report type, required scope, and acceptable reporting dates with the customer before commissioning an examination.
Put the answers in writing; the report type, scope, and dates all shape the plan and the budget.
Let the Observation Period Drive Your Timeline
You can’t complete a SOC 2 type 2 examination simply by preparing documentation and scheduling an auditor. The relevant controls have to be in operation across the whole reporting period. Subsequent reports commonly examine longer periods, but for an initial examination the period may cover three months.
If your business needs to demonstrate access reviews, security training, or change approvals, those activities must occur and be documented during the applicable window. Work backward from the customer deadline to find out whether the requested report can realistically be delivered on time.
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.
Be Clear on What You Are Buying
SOC 2 does not issue certificates, even though businesses frequently search for SOC 2 type 2 certification.
An independent examination against the applicable AICPA Trust Services Criteria is performed by a licensed CPA firm, which issues an attestation report. The report covers the assessed system, relevant controls, testing procedures, and the auditor’s opinion.
Customers typically review that document, often under a confidentiality agreement. A SOC type 2 report also relates to a specific historical period. It does not automatically provide assurance about every change made afterward.
What Will SOC 2 Preparation Cost?
SOC 2 preparation costs more than just an independent examination fee. Assistance with developing policies, conducting risk assessments, preparing evidence, training employees, and arranging security testing may be needed.
For businesses with up to 50 employees, Siege Cyber advertises a SOC 2 compliance package at AUD $2,750 per month, excluding GST, over twelve months. The advertised offer applies to eligible contracts that are signed by December 31, 2026. Included in its package are compliance preparation, training, a compliance platform, and external penetration testing.
Siege Cyber indicates typical fees of approximately AUD 5,000–15,000 for the independent CPA examination, which is billed separately, depending on scope and complexity. Make sure you confirm current pricing, eligibility, and deliverables before committing.
When Your Report Is Already Out of Date
Say your Type 2 report covers January through June, yet a customer requests assurance in October. The report does not examine the intervening months. Some customers may accept a management-issued bridge letter describing relevant changes since the reporting period ended.
A bridge letter does not replace an independent examination, and acceptance depends on the customer’s requirements. Rather than assuming an older report will satisfy procurement, discuss reporting gaps early.
Make Compliance Count Beyond the Next Contract
Siege Cyber provides SOC 2 readiness support from Australian-based specialists, with fixed-price consulting packages and independent audit coordination. For growing software companies, the most useful approach is to connect compliance preparation with actual operational responsibilities.
Give each control an owner, keep security records, and set a reporting schedule that supports future customer reviews. Rather than simply helping respond to the current request, a successful SOC 2 project should leave your business better prepared for the next enterprise opportunity.
Keeping the evidence you collect organized from the start also makes the next audit cycle less of a scramble. Controls are more likely to keep operating between audits when responsibilities and schedules are reviewed at regular intervals.
