PredictAP Completes SOC 2® Type 1 Attestation with Laika
PredictAP is committed to the industry's highest standards for managing customer data.
BOSTON, Aug. 4, 2022 /PRNewswire/ -- PredictAP, Inc., the leading AI-powered invoice coding solution designed specifically for the real estate industry, announced today they have completed the SOC 2® Type 1 attestation.
"We've taken data privacy seriously from day one, and built PredictAP to be safe and secure," said PredictAP Founder David Stifter. "Working on our compliance program with SOC 2 specifically is just part of PredictAP's commitment to meet the needs of our institutional customer base."
SOC 2 is a rigorous compliance standard developed by the American Institute of CPAs (AICPA) that is designed to specify how organizations should manage customer data. As part of the attestation process, PredictAP completed a thorough SOC 2 Type 1 compliance audit, providing documentation on processes, data management infrastructure, and a progressive approach to data access permissions. While the Type 1 audit is not a required prerequisite to Type 2, organizations like PredictAP who complete the Type 1 first are helping to mitigate potential audit loops and timeline extensions by ensuring their compliance program design is fundamentally sound before entering the Type 2 observation period.
To earn this attestation, PredictAP partnered with Laika, a compliance-as-a-service platform that helps companies manage infosec and privacy compliance, obtain security certifications and build crdibility with their customers. PredictAP executed SOC 2 Type 1 by working with Laika's integrated audit feature via Laika Compliance, LLC. Next, PredictAP will begin a months-long monitoring period as part of their SOC 2 Type 2 audit process where auditors will observe how well their controls are operating.
PredictAP is the leading AI-powered invoice coding solution designed specifically for real estate. Unlike OCR and indexing services, PredictAP provides fully coded invoices, ready to flow through existing AP automation workflows. When paired with industry-leading AP automation solutions, such as Yardi Payscan and Nexus Systems, PredictAP delivers massive cost savings and productivity growth.
Founded in 2020 by a team of real estate, accounting tech, and artificial intelligence industry alumni, PredictAP is based in Boston, Massachusetts. Visit www.predictap.com to learn more.
Laika offers unified software and services to simplify and automate SOC 2, ISO 27001, GDPR, HIPAA, and other information security compliances. Grow faster, build trust, and implement scalable security practices through solutions for certification and attestation, security questionnaires, audit management, and continuous compliance monitoring.
Laika was founded by Austin Ogilvie and Sam Li, both two-time founders and Y Combinator alumni, and industry veteran Eva Pittas, who oversaw global risk and compliance functions at Citigroup for 20 years. Learn more at www.heylaika.com.
Media Contact: Juliet Travis, Liftoff Communications, [email protected]