SOC 2 in 30 Hours

How Laika Made Compliance Quick and Painless for Trace
About Trace
Trace makes purchasing smarter and easier for businesses like NetSuite, Intacct, and QuickBooks. The company’s platform manages the purchasing process, allowing finance teams to focus on making more strategic financial decisions. Laika spoke with Martin Destagnol, CTO of Trace, about how our solutions worked for their business.
Compliance Architect
Dwight Doscher
Industry:
Fintech
Company Size:
< 35 employees
Location:
United States
Certification:
SOC 2

  Problem

Trace knew a SOC 2 audit would help them meet prospect expectations and build trust in initial conversations. But this was Trace’s first audit, and they didn’t know where to begin.

It was really important for us, especially from a customer acquisition perspective, to prove that we were doing stuff the right way. SOC 2 is something our customers really value, so it is something we really value.

Martin Destagnol

CTO of Trace

However, they did have an idea of what to expect. Trace had watched other startup teams struggle with their first SOC 2, some spending up to a year trying to complete it.

  Solution

Trace built their entire compliance program foundation from scratch in Laika Knowledge Base with Laika Concierge. Laika’s Knowledge Base segmented Trace’s SOC 2 requirements into actionable tasks, making the entire process manageable and concrete. Our Laika Concierge experts worked as an extension of the Trace team to design and implement SOC 2 controls.

To have a team that has done it so many times, that can do it with you, is such a great value-add. It wasn’t just being in front of an interface and going through the pain. I really felt [that] every time we had an open question, the team would come back quickly with a solution. It really felt like we were not on our own.

Martin Destagnol

CTO of Trace

  Results

With Laika acting as an extension of their compliance team, Trace smoothly completed their first SOC 2 audit within Q1. This opened a new segment of high-value customers and allowed Trace leadership to focus on other priorities.

In total, it took Trace less than 30 hours of work over Q1 to complete the audit. Laika shouldered the bulk of the commitment in audit prep through audit management to a final report.

Trace’s compliance evolves with the company as they move upmarket. The team can smoothly complete annual SOC 2 audits and add compliance certifications to meet customer expectations. In the meantime, Trace uses its SOC 2 status to build credibility with prospects and prove a strong commitment to data security

It really impacts us significantly. When you are starting a company like this and you are connecting to [your customers’] financial workflows, you need to build trust. Having a SOC 2 is so helpful in our conversations.

Martin Destagnol

CTO of Trace

Ready to start your compliance journey? Team up with Laika to get it right. 

Input from the Expert

Dwight Doscher

Compliance Architect

Trace's use of the platform and transparent attitude with our team was key to the efficiency of their compliance process. With their communication efforts and feedback, we were able to accomplish their goals on an accelerated timeline. I'm happy to keep working with Martin and the Trace team in the years to come.

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