Overview
Beneration helps companies simplify the world of employee benefits and billing. Beneration’s proprietary platform offers consolidated invoicing enhanced with robust auditing technology, plus custom-built billing solutions that meet even the most complex requirements. With Beneration’s streamlined billing solutions, companies can eliminate errors, save time, and focus more on their people.
Services Provided
- SOC 2 Readiness Platform: Vanta
- SOC 2 Type II Audit
Challenge
Beneration provides a range of tools and services to assist employers, insurance carriers, and brokers in optimizing their employee benefits billing and administration.
The company has always placed a strong emphasis on maintaining the security of the sensitive employee benefit data it manages on behalf of its clients, but Beneration was looking for ways to demonstrate that commitment to prospects and customers, and to verify that it was aligning its practices to evolving industry standards. Faced with growing customer and prospect expectations that it could demonstrate effective security practices, Beneration enlisted Vanta and Sensiba to prepare for and perform a SOC 2 Type II audit.
“Any time we had a question, Sensiba walked us through it so we could figure out our situation and what we needed to do. Sensiba explained everything well and provided clarity throughout the process. We weren’t just interacting with an email address.”
Josh WinigradManaging Director, Beneration
Solution
“In some areas, it’s almost like filling the blanks,” says Josh Winigrad, Managing Director at Beneration. “Vanta says you’re going to need something, and highlights potential gaps so you can track down what you need or make adjustments.”
SOC 2 Type II Audit:
After onboarding with the readiness platform, Vanta introduced Beneration to potential audit partners. Vanta helped Beneration clarify its needs and facilitated interviews with several firms before Beneration selected Sensiba.
“Vanta supported us by asking questions about our operation and our goals, and by suggesting potential partners for us” Winigrad says. “The Sensiba team stood out not only for its technical expertise but also its competitive pricing and a cultural fit. We really thought they were a firm that had reasonable expectations for our first audit, but also had the capability to allow us to grow in subsequent audits. Both of us understand that security is an ongoing, iterative process.
Result
The SOC 2 Type II audit represented a relatively straightforward process for Beneration, Winigrad says, in part because Vanta automated so much of the required data collection and analysis.
“Vanta helped us collect and organize everything in an orderly fashion, and Sensiba was there to help with any questions that came up,” Winigrad says.
Any time we had a question, someone from Sensiba walked us through it so we could figure out our situation and what we needed to do. Sensiba explained everything well and provided clarity throughout the process. We weren’t interacting with an email address.”
The successful SOC 2 Type II audit report provides Beneration with independent, objective confirmation that its security processes and controls are effective and performing as designed.
In addition, the audit report helps the company compete in the marketplace and pursue larger opportunities. With larger organizations expecting potential vendors to have a SOC 2 Type II audit report, completing the process places Beneration on the same footing as its competitors.
As another benefit, the preparation work that fueled its first audit has positioned Beneration effectively for its ongoing security audits.
“With our connections and integrations set up in Vanta, the work we’ve done will give us capacity to make improvements in future years,” Winigrad says. “Our next audits will be more focused, which will help us improve our security processes.”
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