The rigorous independent audit verifies PrizeLogic’s information security practices, policies, and procedures are officially approved to meet the SOC 1 trust principles criteria for internal control over financial reporting
PrizeLogic, the leading incentivized engagement company whose clients include PepsiCo, Molson Coors, Lowe’s and Samsung, today announced full compliance with SSAE SOC 1 Type I, further demonstrating the rigorous security controls and business processes governing PrizeLogic’s technology platform and managed services solution. The audit affirms PrizeLogic’s internal control over financial reporting, which pertains to the application of checks-and-limits.
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“I’m excited to take this next step of completing our SOC 1 Type 1 3rd party certification as further evidence of PrizeLogic’s trusted history, financial acumen and controls in our handling of prizing, rebates, rewards and other incentives on behalf of great brands,” said Ryan LaMirand, CEO of PrizeLogic. “Clients should do their due diligence before committing significant funds for incentives to a partner providing Promotions, Rebates & Offers or Loyalty Programs. Third-party certification like SOC 1 Type I allows you to not just take your partner’s word for it.”
A SOC 1 Report (System and Organization Controls Report) is a report on Controls at a Service Organization which are relevant to user entities’ internal control over financial reporting. The completion of SOC 1 Type I examination provides clients with independent assurance that PrizeLogic operates at the highest levels of standards regarding security, availability, processing integrity, confidentiality, and privacy.
“When managing millions of dollars in incentives each year, it’s important to have strong financial controls in place,” said Dave Dally, Vice President, Fulfillment Operations. “Completing our SOC1 demonstrates our continued commitment to create and maintain the most stringent controls needed to ensure the highest quality and security of services provided to our clients.”
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