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MONTO BREAKS INTO GLOBAL ENTERPRISE MARKETS WITH COMPLIANCE AUTOMATION
Monto is the ultimate infrastructure for finance teams to get paid from customers that use AP portals.
Yoav Shotland
Co-Founder and CTO, Monto
With Scytale, I had a clear understanding of the SOC 2 process within days instead of months. Without Scytale, attaining the report would have been a harsh process.
THE CHALLENGES
- Because Monto serves mid-market and large enterprises with very specific InfoSec compliance checklists, it was clear from the very start that they needed the ‘SOC 2’ official stamp to win over these customers, by demonstrating that they comply with the stringent standards of the AICPA’s Trust Services Criteria.
- In order to break into the US market, there was no debate whether Monto had to start their SOC 2 compliance efforts and get their report, otherwise it would lead to losing big deal opportunities.
- From a startup perspective, Monto’s research around SOC 2 compliance made them soon realize that SOC 2 was more complicated than they thought, especially that it differentiates between company to company. And so, they knew they had their work cut out for them, leading them to try and find the right ‘SOC 2 partner’ to help them.
THE SOLUTION
- After meeting with five potential service providers, some solely consultants and others just offering software, Monto chose Scytale to help them tackle their audit-readiness, due to the automation technology coupled with an expert team, both being equally important to Yoav, Co-Founder and CTO at Monto.
- The automatic collection of evidence, reduced time-heavy and dreaded audit preparation, making Monto’s compliance efforts a pain-free experience.
- Managing and tracking all their compliance tasks in one place under Scytale’s ‘To-Do’ list while being guided on each audit requirement, was a powerful combination for Monto.
KEY TAKEAWAYS
- Having all the policy templates in Scytale made it super easy for Yoav to implement all their necessary information security policies, saving his team lots of critical time, especially for a fast-paced startup.
- Scytale’s long list of integrations was super valuable, as more integrations meant more automation and accurate control monitoring, and less efforts for the Monto team.
End results
- Being able to demonstrate their SOC 2 compliance, eliminated sales barriers and delays on closing deals for Monto’s sales team.
- The SOC 2 compliance process with Scytale provided Monto a great perspective and methodology to stay on top of all information security expectations, as well as recommended ways to handle certain data security situations correctly.
- As a CTO, Yoav has complete peace of mind regarding Monto’s security posture in this cumbersome security and compliance reality.
