San Diego, June 6, 2022– Neology, a global innovator that is re-imagining mobility for smart cities and safer communities, today announced that it has successfully completed its System and Organization Controls (SOC) 1 examination by independent auditor Moss Adams, LLP. The SOC 1 certification exemplifies Neology’s continued commitment to create and maintain the most stringent controls neededto ensure the highest quality and security of solutions and services provided to customers.
Developed and administered by the American Institute of CPAs (AICPA), SOC is an assessment and reporting service designed to attest to the internal controls over financial reporting and data integrity. Whereas a Type 1 report signifies an organization’s status as of a specific date, Type 2 refers to ongoing compliance with the AICPA’s rigorous standards for security and efficacy over a period of time. Type 2 audits take longer, cost more, and are much more difficult to pass.
The increasing complexity in operational effectiveness requires customers to mitigate their risk over financial auditing and controls of vendor activities to ensure safeguards that meet evolving needs. Organizations utilize SOC attestation reports to verify that vendor systems can deal with the high-risk operations of their business and build confidence in competitive landscapes.
“Neology is known for blazing new trails in the transportation, tolling, and public safety systems markets, and achieving this SOC certification is no different,” said Charles Padgett, CFO of Neology. “As the stakes increase for ensuring security around data collection and intelligence and mitigating risk, we want to reinforce our adherence to the industry-best standards. We owe that to our customers.”
To continue building trust and confidence moving forward, Neology will conduct regular examinations, providing customers with ongoing assurances and transparency in the company’s Roadside Tolling, Laneside system.
For further information about Neology’s SOC compliance, or to request a copy of a report, contact your representative or firstname.lastname@example.org.
About Neology, Inc.
Neology is re-imagining mobility to help our customers accelerate their vision for smart cities and safer communities. Our Mobility Platform™ is setting the industry standard through a unique combination of AI-powered adaptive solutions, a proven integration process, and unparalleled lifecycle support. Backed by a culture of innovation, our mobility experts work closely with global customers and a top-tier partner ecosystem to connect existing infrastructure assets with next-generation technology to modernize the way people move. To create safer, cleaner, more efficient mobility experiences, visit www.neology.net.