NEW YORK, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Sweed, the leading enterprise retail technology platform for the cannabis industry, announced today the successful completion of its Systems and Organization Controls (SOC) 1 and SOC 2 Type II audits. Completion of the SOC 1 and SOC 2 Type II audits credits the Sweed enterprise retail platform with reliable and effective means of financial reporting and managing customer information security. The efficacy of internal controls, reporting and security protocols for protecting customer data is a hallmark of the Sweed technology platform that enables cannabis retailers to grow their businesses. The announcement reasserts Sweed as the best-in-class cohesive technology platform for eCommerce, marketing and inventory management across the cannabis retail industry.
The independent SOC 1 and SOC 2 audits conducted are compliance standards developed by the American Institute of CPAs (AICPA), which specify how service organizations, such as Software as a Service (SaaS) providers manage customer data based on the applicable Trust Services Criteria including security and processing integrity. SOC 1 Type II Compliance primarily focuses on controls related to financial reporting. Independent audit of the Sweed internal controls over financial reporting found its suitable design and operating efficiency to be compliant and functioning as intended. The SOC 2 Type II Compliance independent audit evaluates controls and processes over an extended period of time to determine whether controls function as intended. Both audits were conducted by Marcum, a leading CPA firm providing attestation, security, risk management and compliance services.
“Cannabis retailers face challenges that no other industry must be mindful of, and with dispensaries processing and holding millions of data points as part of their operations, effective and reliable security of their data provides invaluable peace of mind,” said Rocco Del Priore, Co-Founder of Sweed. “Cannabis operators can be confident in the financial reporting operations that Sweed systems provide, and Sweed is proud to provide customers with the highest level of security for their data, through proven - and now successfully SOC 1 Type II and SOC 2 Type II audited, practices that ensure operational and transactional information is secure at all times.”
About Sweed
Sweed is redefining cannabis retail management with its cohesive platform, seamlessly combining Point of Sale, eCommerce, and Marketing & Loyalty solutions. As the original enterprise-grade platform purpose-built for multi-location scalability, Sweed empowers retailers to efficiently manage sales, customer engagement, marketing, and inventory — all from one system. By delivering a tailored, data-driven experience without relying on external integrations, Sweed enables cannabis retailers to drive growth and deliver exceptional customer experiences. For more information, visit https://sweedpos.com/.
Contact:
Raquel Heras
raquel@oakpr.com
