SOC stands for ‘Systems and Organization Controls,’ a set of reports that evaluate the internal control audit systems of service providers, particularly organizations that handle financial functions for other companies on an outsourced basis.

A SOC1 Type 2 certification demonstrates a service provider's ability to process financial transactions and other financial-related data securely and responsibly.

A typical SOC1 audit—performed by a service auditor—assesses the effectiveness of the organization’s control design and activities from the standpoint of financial auditing. It uses standards set in the Sarbanes-Oxley Act of 2002.

“We pursued the audit and certification to assure users of Hermes that their financial data is in safe hands,” explains Thomas John, President, and CEO of Calpion Inc.

“They can be confident that Hermes can increase the security of their accounts payable process while eliminating bottlenecks that get in the way of paying vendors faster,” he adds.

Hermes is an automated AP solution that allows organizations to switch from manual invoice processing to a hands-off model. It, therefore, saves time while avoiding costly errors. It combines optical character recognition (OCR) and artificial intelligence (AI) to automatically extract data from all types of invoices. After validating the data, the software uploads it in the desired format into the client’s enterprise resource planning system. It supports custom rules according to the vendor, company business units, and approver.

Even before Calpion earned a SOC1 Type 2 certification, Hermes was already one of the most secure AP automation solutions available. It has multi-factor authentication and is designed to eliminate data breaches while enhancing data accessibility.

Organizations interested in trying Hermes can book a demo at www.automateinvoices.com.

MEDIA CONTACT
Thomas John
Calpion Inc.
Tel: (469) 242-6053
Email: [email protected]
4835 LBJ Freeway, Suite 300,
Dallas, TX 75244