New Hartford, NY – February 23, 2017 – ParTech, Inc. (PAR), a wholly owned subsidiary of PAR Technology Corporation (NYSE: PAR), and a leading global provider of point of sale (POS) and food safety solutions to the restaurant industry, today announced that the company has undergone a Service Organization Control 1SM and 2SM examination resulting in a CPA’s report stating that management of PAR Technology maintained effective controls for its SureCheck® and Brink POS® products. The engagement was performed by Freed Maxick CPAs, P.C.
A SOC 1SM and SOC 2SM report is designed to meet the needs of existing or potential customers who need assurance about the effectiveness of controls at a service organization that are relevant to the security, availability, or processing integrity of the system used by the service organization to process customers’ information.
“We are pleased that our SOC 1SM and SOC 2SM reports have shown that we have the appropriate controls in place to mitigate risks,” said Joshua Meserole, Director, Datacenter Operations, ParTech, Inc. “By satisfying these principles we are showing our dedication to providing the highest level of service for our customers. The security and availability of our customers’ data is of paramount importance.”
The following principles and related criteria have been developed by the American Institute of CPAs (AICPA) and the Canadian Institute of Chartered Accountants (CICA) for use by practitioners in the performance of trust services engagements:
- Security. The system is protected against unauthorized access (both physical and logical).
- Availability. The system is available for operation and use as committed or agreed.
- Processing Integrity. System processing is complete, accurate, timely and authorized.
- Confidentiality. Information designated as confidential is protected as committed or agreed.
- Privacy. Personal information is collected, used, retained, disclosed and destroyed in conformity with the commitments in the entity’s privacy notice and with criteria set forth in generally accepted privacy principles issued by the AICPA and CICA.
A SOC 1SM and SOC 2SM report is an internal control report on the services provided by a service organization to its customers and provides valuable information that existing and potential customers of the service organization need to assess and address the risks associated with an outsourced service.
ABOUT PAR TECHNOLOGY CORPORATION
PAR Technology Corporation’s stock is traded on the New York Stock Exchange under the symbol PAR. PAR’s Hospitality segment has been a leading provider of restaurant and retail technology for more than 30 years. PAR offers technology solutions for the full spectrum of restaurant operations, from large chain and independent table service restaurants to international quick service chains. Products from PAR also can be found in retailers, cinemas, cruise lines, stadiums and food service companies. PAR’s Government Business is a leader in providing computer-based system design, engineering and technical services to the Department of Defense and various federal agencies. For more information, visit https://www.partech.com/ or connect with PAR on Facebook and Twitter.