Is NIST or SOC 2 Certification Right for Your Company? A Practical Guide to Evaluating Compliance for Your Business
Tuesday, March 4, 2025
Cybersecurity isn’t just about firewalls and passwords—it’s about trust.
Your customers, partners, and investors want to know their data is safe with you. But in today’s digital world, saying you're secure isn’t enough—you need to prove it. That’s where compliance comes in.
Whether you’re a growing startup or an established business, understanding compliance frameworks like NIST CSF and SOC 2 can mean the difference between landing your next big client or being left out of the deal.
So, which one is right for you? Let’s break it down.
Compliance: More Than Just a Checkbox
Compliance ensures that your security measures align with recognized industry standards. Instead of just saying your company is secure, compliance gives you a framework to prove it—to customers, partners, and regulators.
Even if compliance isn’t required in your industry today, it may be in the future. Companies that prepare now can avoid last-minute panic, win more business, and stay ahead of evolving regulations. If you’re already investing in cybersecurity, why not take steps that also help you meet compliance standards?
So, how do you choose the right compliance framework for your business? Two of the most recognized standards are NIST CSF (Cybersecurity Framework) and SOC 2. Let’s break down what they mean and which one might be the best fit for you.
Understanding NIST CSF and SOC 2
What is NIST CSF?
The NIST Cybersecurity Framework (CSF) was created by the National Institute of Standards and Technology to help organizations improve their cybersecurity posture.
Rather than a strict certification, NIST CSF provides a flexible set of best practices designed to:
✔ Identify cybersecurity risks
✔ Protect sensitive data and systems
✔ Detect threats early
✔ Respond effectively to security incidents
✔ Recover quickly from cyberattacks
Why Choose NIST CSF?
✅ Fast & cost-effective – ideal for small and mid-sized businesses
✅ Focuses on real security, not just paperwork
✅ Widely recognized by both government and private sectors
✅ Covers up to 80% of what’s required for SOC 2, GDPR, HIPAA, and PCI DSS
✅ No formal certification required – it’s a framework, not an official audit
NIST CSF is a great starting point. It provides an all-around risk-based approach that applies to every industry and lays the foundation for other compliance frameworks.
What is SOC 2?
SOC 2 (Service Organization Control 2) was developed by the American Institute of CPAs (AICPA) to evaluate how businesses handle customer data security, privacy, and integrity.
Unlike NIST CSF, SOC 2 requires a formal third-party audit and results in an official compliance report that businesses can show to clients.
Why Choose SOC 2?
✅ The gold standard for cybersecurity compliance
✅ Provides an official audit report to demonstrate trustworthiness
✅ Often required by large enterprises & regulated industries
❌ Expensive and time-consuming – can cost up to $100,000 and take a year
❌ Focuses more on policies and documentation than actual security
If you handle highly sensitive customer data and need to prove compliance to large enterprises, SOC 2 is worth the investment. However, if you're already NIST CSF compliant, you’ve covered 70-80% of what SOC 2 requires—making the process easier and faster.
Which Compliance Framework is Right for You?
When to Choose NIST CSF:
You’re a small or mid-sized business looking for a cost-effective way to strengthen security.
You don’t need a formal audit, but you want to prove your company takes security seriously.
Your customers accept NIST compliance as proof of cybersecurity (which is true for 95% of companies).
You want to lay the foundation for future compliance with SOC 2, GDPR, HIPAA, or PCI DSS.
When to Choose SOC 2:
You handle highly sensitive customer data and need to prove compliance to large enterprises or regulated industries.
Your clients require a SOC 2 report as part of vendor agreements.
You’re prepared to invest in a longer, more expensive audit process for official certification.
For many businesses, NIST CSF is the fastest and most practical path to security. But if you need an official compliance report for customers or investors, SOC 2 is the way to go.
Other Compliance Standards You Should Know
Beyond NIST CSF and SOC 2, there are other compliance frameworks that might apply to your industry.
HIPAA (Health Insurance Portability and Accountability Act)
Who needs it? Healthcare providers, insurers, and businesses handling patient data.
What it covers: Encryption, access control, employee training, and breach notification policies.
Why it matters: Non-compliance can result in fines up to $1.5 million per violation.
ISO 27001 (International Security Standard)
Who needs it? Businesses operating internationally that want a globally recognized security certification.
What it covers: A structured Information Security Management System (ISMS).
Why it matters: Helps businesses expand globally and demonstrate a high level of security maturity.
PCI DSS (Payment Card Industry Data Security Standard)
Who needs it? Any company that processes, stores, or transmits credit card information.
What it covers: Secure payment processing, encryption, and access controls.
Why it matters: Protects businesses from credit card fraud and ensures compliance with payment providers.
GDPR & CCPA (Data Privacy Regulations)
Who needs it? Any business handling personal data from EU (GDPR) or California (CCPA) residents.
What it covers: Strict data protection, consent, and user rights policies.
Why it matters: Non-compliance fines can reach up to 4% of global revenue.
FedRAMP (Federal Risk and Authorization Management Program)
Who needs it? Cloud service providers that work with the U.S. government.
What it covers: Security assessments and monitoring for cloud services.
Why it matters: Required to win government contracts.
Compliance Made Easy: The Lockwell Approach
The traditional compliance process is time-consuming and expensive—often requiring third-party verification, supply chain assessments, risk evaluations, and extensive documentation.
Lockwell streamlines this entire process.
✔ Fastest & most affordable path to NIST compliance – up to 5x faster than traditional approaches
✔ End-to-end security services, including technology deployment, risk assessments, and compliance automation
✔ One service, one solution – everything you need for compliance & cybersecurity in one package
✔ Lays the groundwork for SOC 2, GDPR, HIPAA, and PCI DSS compliance
Stay Secure, Stay Compliant
Cybersecurity is essential, and compliance makes it official.
Most businesses will find NIST CSF sufficient to strengthen security and prove compliance.
SOC 2 is ideal for companies working with large enterprises or regulated industries.
Getting NIST CSF compliant now can make SOC 2, HIPAA, and GDPR compliance up to 80% easier.
Want to find the best compliance path for your business?
Schedule a Free Cybersecurity Risk Assessment with Lockwell today.
Ready to Secure Your Business?
Lockwell makes compliance easy, fast, and affordable—so you can focus on what you do best.
Get compliant. Stay protected. Build trust.