Palette Software Completes SOC 1 and SOC 2 Examinations

January 5, 2022 / in Press Releases
Palette Software Inc has completed both the Type 2 SOC 1 and Type 2 SOC 2 examinations, while Palette Software AB has completed the SOC 2 examination. Both examinations were performed by the independent CPA firm Schellman & Company, LLC.

Palette Software Inc completes SOC 1 and SOC 2 examinations

Palette Software has completed both the Type 2 SOC 1 and Type 2 SOC 2 examinations for the PaletteArena Software as a Service for the review period from November 1, 2020, to October 31, 2021. The examinations were performed by the independent CPA firm Schellman & Company, LLC.

By engaging an independent CPA to examine and report on Palette’s controls, Palette can respond to meet the needs of user entities and have an objective evaluation of the effectiveness of controls that address operations and compliance, as well as financial reporting at those user entities.

  • SOC 1 – Reporting on controls at a service organization relevant to user entities’ internal control over financial reporting
  • SOC 2 – Reporting on controls at a service organization relevant to security and availability.

Specific control objectives included in the SOC 1 report include Data Backup, System Monitoring, Information Security, Application Change Control, Data Communications, Customer Provisioning, and Invoice and Expense Processing.

Annual SOC 1 and SOC 2 examinations

Palette Software Inc is committed to performing SOC 1 and SOC 2 examinations each and every year. Palette also completes a HIPAA examination attestation, a GDPR compliance attestation, and a PEPPOL compliance attestation.

Download the full press release

Palette Software Inc Soc Audit US PaletteArena Software as a Service

Palette Software AB has completed a Type 2 SOC 2 examination

Palette Software AB has completed a Type 2 SOC 2 examination for the Online Cloud Service Operation for the review period from January 1, 2021, to October 31, 2021. The examination was performed by the independent CPA firm Schellman & Company, LLC.

By engaging an independent CPA to examine and report on Palette’s controls, Palette can respond to meet the needs of user entities and have an objective evaluation of the effectiveness of controls that address operations and compliance. Palette has complied with the following SOC reports:

  • SOC 2 – Reporting on controls at a service organization relevant to security and availability.
  • The Trust Services categories that Palette are evaluated against as part of the SOC 2 examination are of the following categories:
    • Security – Information and systems are protected against unauthorized access, unauthorized disclosure of information, and damage to systems that could compromise the availability, integrity, confidentiality, and privacy of information or systems and affect the entity’s ability to meet its objectives.
    • Availability – Information and systems are available for operation and use to meet the entity’s objectives.
      Palette Software is committed to performing SOC 2 examinations each and every year. Palette also completes a GDPR compliance attestation.

Download the full press release:

Palette Software AB Soc Audit EMEA Online Cloud Service Press Release

Benefits of Palette’s AP Automation solution

Palette’s AP automation solution delivers invoice data capture, an accounts payable approval workflow, automated PO matching, a searchable invoice archive and a complete time-stamped audit trail for investigations. The software reduces invoice processing costs, improves approval cycle times and reduces manual work for accounts payable teams.

See more about Palette AP Automation

Press contacts:

Mats Ferm, CEO, Palette Software
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Kristina Alstermark, CMO, Palette Software
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