Palette Software has completed both the Type 2 SOC 1 and Type 2 SOC 2 examinations for the PaletteArena Software as a Service for the review period from November 1, 2020, to October 31, 2021. The examinations were performed by the independent CPA firm Schellman & Company, LLC.
By engaging an independent CPA to examine and report on Palette’s controls, Palette can respond to meet the needs of user entities and have an objective evaluation of the effectiveness of controls that address operations and compliance, as well as financial reporting at those user entities. Palette has complied with the following SOC reports:
— SOC 1 – Reporting on controls at a service organization relevant to user entities’ internal control over financial reporting
— SOC 2 – Reporting on controls at a service organization relevant to security and availability.
Specific control objectives included in the SOC 1 report include Data Backup, System Monitoring, Information Security, Application Change Control, Data Communications, Customer Provisioning, and Invoice and Expense Processing.
Palette Software is committed to performing SOC 1 and SOC 2 examinations each and every year. Palette also completes a HIPAA examination attestation, a GDPR compliance attestation, and a PEPPOL compliance attestation.
Palette’s AP automation solution delivers invoice data capture, an accounts payable approval workflow, automated PO matching, a searchable invoice archive and a complete time-stamped audit trail for investigations. The software reduces invoice processing costs, improves approval cycle times and reduces manual work for accounts payable teams.
See more about Palette AP Automation
For more information:
Mats Ferm, CEO, Palette Software
Kristina Alstermark, CMO, Palette Software
About Palette Software
Palette Software is a market-leading vendor of financial process automation for domestic and global corporations. Palette solutions automate Accounts Payable operations. Customers experience significant and measurable cost savings, productivity gains and operational excellence. Palette solutions are GDPR compliant and optimize financial management for more than 2,500 customers in 50+ countries. With 25 years of experience, Palette and its partners offer automation solutions for organizations of all sizes worldwide. www.palettesoftware.com
Palette Software Inc.
Palette Software Inc.
330 North Wabash Ave. 23rd Floor
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Entrepreneur Yak journalist was involved in the writing and production of this article.