DRAPER, Utah, Oct. 26, 2021 (GLOBE NEWSWIRE) — Xevant, the leader and creator of automated data analytics for pharmacy benefits organizations, announced that it has successfully attained its SOC 2 Type 1 compliance for the latest Xevant enterprise software through an audit performed by an independent CPA firm. A widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA), SOC 2 compliance confirms Xevant’s controls and processes meet certain AICPA Trust Service Criteria, verified through an in-depth independent audit as they relate to security, availability, and confidentiality of a system.
The SOC 2 Type 1 audit, conducted by Larson & Company, evaluates the controls, procedures, and documentation of Xevant’s overall security practices. It also examines the design suitability of applicable security controls in Xevant’s pharmacy benefits platform and products.
“At Xevant, information security remains at the core of our operations since we handle and manage confidential customer health data,” stated Chad Davis, Security and Compliance Director at Xevant. “By voluntarily meeting the standards and industry benchmarks of the AICPA, this compliance validates that Xevant has built a culture dedicated to safeguarding customer data with extensive processes and security controls that includes strict logical and physical access, employee security awareness training, and comprehensive problem management.”
“With our SOC 2 audit report, we continue to remain committed to the security, availability, and confidentiality of all our customer data,” stated Brandon Newman, CEO and cofounder of Xevant. “We understand how important data security and compliance are to our clients (customers) and we are proud of our team’s laser-focused effort, meeting the stringent SOC 2 Type 1 standard.”
Xevant plans to attain its SOC 2 Type 2 in 2022.
The SOC 2 Type 1 audit report is available to Xevant’s customers and prospects under NDA upon request.