Creative Realities announces SOC 2 Type 1 compliance, enhancing customer data security and validating internal controls.
Quiver AI Summary
Creative Realities, Inc. (CRI), a prominent provider of digital signage and media solutions, announced the successful completion of its SOC 2 Type 1 audit, demonstrating compliance with industry standards for customer data security. This achievement reflects CRI's commitment to delivering secure SaaS products, facilitated by improvements in their software and cloud infrastructure over a nine-month period. The audit, conducted by Johanson Group LLP, validates the company's practices concerning security, availability, and confidentiality of customer data. Bart Massey, Executive Vice President of Software Development, emphasized the importance of this milestone and indicated that CRI is now working towards SOC 2 Type 2 compliance, which will provide independent verification of ongoing adherence to these security practices.
Potential Positives
- Successful completion of SOC 2 Type 1 audit enhances the company's reputation for customer data security and reliability.
- This achievement demonstrates Creative Realities' commitment to continuous improvement and adherence to industry standards, which could attract new clients.
- Compliance with SOC 2 standards can provide a competitive advantage in securing contracts with enterprise-level customers who prioritize security and data privacy.
- The partnership with Johanson Group LLP for independent verification builds credibility and fosters trust among clients and stakeholders.
Potential Negatives
- Achieving only SOC 2 Type 1 compliance indicates that while CRI has established controls, it has not yet proven the effectiveness of these controls over time, which may raise concerns about ongoing security reliability.
- The audit process took around nine months, which could signal potential delays in implementing essential security measures or indicate previous deficiencies in their data handling practices.
- While compliance is a positive step, the mention of ongoing work toward Type 2 compliance suggests that the company may not yet fully meet the most stringent security standards expected in the industry.
FAQ
What is Creative Realities, Inc. known for?
Creative Realities, Inc. specializes in digital signage and media solutions for enterprise-level networks.
What does SOC 2 Type 1 compliance mean for CRI?
SOC 2 Type 1 compliance indicates that CRI meets industry standards for customer data security and privacy protocols.
How long did the SOC 2 Type 1 audit take?
The SOC 2 Type 1 audit process took around nine months to complete.
Who conducted the SOC 2 Type 1 audit for CRI?
The audit was conducted by Johanson Group LLP, a recognized certification body for global compliance standards.
What is the next step for CRI after achieving Type 1 compliance?
CRI is actively working towards achieving SOC 2 Type 2 compliance to ensure ongoing operational adherence to set standards.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
LOUISVILLE, Ky., March 25, 2025 (GLOBE NEWSWIRE) -- Creative Realities, Inc. ("Creative Realities," "CRI," or the "Company") (NASDAQ: CREX ), a leading provider of digital signage and media solutions, is pleased to announce the successful completion of its Systems and Organizations Controls (SOC) 2 Type 1 audit. This audit achieved compliance with the leading industry standards for customer data security. This report shows CRI’s ongoing commitment to providing our customers with secure and reliable SaaS products.
“This is a significant achievement for our company and our customers. To reach this point, CRI has matured and grown as an organization, improving everything we do. We’ve enhanced our software and cloud infrastructure to make them more secure and highly available. These changes ensure we stay compliant with best practices and provide great products for our clients,” said Bart Massey, Executive Vice President of Software Development at CRI.
Developed by the American Institute of Certified Public Accountants (AICPA), a SOC 2 information security standard is a report that validates controls relevant to security, availability, integrity, confidentiality, and privacy. The audit was completed with the help of Johanson Group LLP, a premier certification body that helps organizations obtain and maintain global compliance standards. Ensuring that all parts of CRI’s applications and business processes were compliant with SOC 2 requirements took around nine months.
“Partnering with Johanson Group LLP has brought in a third-party auditor to validate our policies and ensure we follow best practices. We take our commitment to SOC II principles seriously, and with the completion of this report, we have a qualified independent auditor who confirms it,” Massey added.
SOC 2 has a rigorous requirement on how companies handle customer data and information, so compliance guarantees that established and implemented organizational practices are in place to safeguard customer data. CRI’s case involves its software products and all the administrative functions needed to support them.
CRI is actively working to complete Type 2 compliance. Type 1 focuses on evaluating processes, infrastructure and policies. Type 2 provides independent verification that the company’s ongoing operations continue to follow the practices and principles specified and required by Type 1.
More information on Creative Realities’ SOC 2 Type 1 compliance process will be available soon on cri.com.
About Creative Realities, Inc.
Creative Realities designs, develops and deploys digital signage-based experiences for enterprise-level networks utilizing its Clarity™, ReflectView™, and iShowroom™ Content Management System (CMS) platforms. The Company is actively providing recurring SaaS and support services across diverse vertical markets, including but not limited to retail, automotive, digital-out-of-home (DOOH) advertising networks, convenience stores, foodservice/QSR, gaming, theater, and stadium venues. In addition, the Company assists clients in utilizing place-based digital media to achieve business objectives such as increased revenue, enhanced customer experiences, and improved productivity. This includes the design, deployment, and day to day management of Retail Media Networks to monetize on-premise foot traffic utilizing its AdLogic™ and AdLogic CPM+™ programmatic advertising platforms.
Contacts
Media Inquiries
Breanne Ngo
[email protected]
Investor Relations
Chris Witty
[email protected]
646-438-9385
[email protected]
https://investors.cri.com/
