Boston, MA– April 22, 2024 – Scrypt AI, the next level payables automation provider, is excited to announce that it has successfully achieved SOC 1 Type 2 certification. This milestone comes after the company received its SOC 1 Type 1 certification in October 2022, underscoring Scrypt AI's dedication to maintaining robust internal controls and ensuring the highest level of service reliability for its clients.
The SOC 1 Type II certification is an extension of the Type I audit, offering a more comprehensive evaluation of the service organization’s controls. While the Type I audit primarily focuses on the design of controls, the Type II audit delves deeper to assess the operating effectiveness of these controls over a specified period, typically six to twelve months.
During the SOC 1 Type II audit, an independent auditor rigorously assessed Scrypt AI’s controls and processes for design and effectiveness. This included testing, interviews, and sample evaluations across policies, procedures, and documentation. The audit identified strengths and areas for improvement, offering a detailed report that boosts confidence in Scrypt AI's financial reporting controls.
Achieving SOC 1 Type II certification demonstrates Scrypt AI's unwavering commitment to maintaining strong internal controls and delivering reliable services to its clients. It further reinforces the company's dedication to safeguarding financial information and mitigating risks, instilling confidence in clients and stakeholders alike.
“We are thrilled to achieve SOC 1 Type II certification, which reflects our ongoing commitment to excellence and our dedication to providing secure and reliable services to our clients,” said Andy Vidan, CEO and Co-Founder of Scrypt AI. “This certification not only validates our internal controls but also underscores our promise to prioritize the security and integrity of our clients’ financial information.”
About Scrypt
Scrypt’s Integrated Payables and Receivables platform is a cloud-based solution that delivers next level automation. Powered by artificial intelligence and machine learning, Scrypt’s AI Data Capture Technology can read any document or image, learn over time and perform human-like decisions, eliminating the many manual touchpoints in otherwise automated AP and AR processes. In addition to increased efficiency and cost savings, Scrypt offers more accuracy and higher security than automated AP and AR processing that relies on humans. Learn more about Scrypt by visiting www.scrypt.ai.