Both show customers that you take information security seriously, but they are not the same thing. The choice depends mainly on who is asking you for it.
What each one is
- ISO/IEC 27001 is an international standard for an information security management system. An accredited certification body audits the system and issues a certificate.
- SOC 2 is an attestation report prepared by an independent auditor that describes your controls and gives an opinion on them against the Trust Services Criteria.
How they differ
- Output: ISO 27001 gives a short certificate; SOC 2 gives a detailed report that customers read.
- Focus: ISO 27001 assesses whether you have a working management system; SOC 2 tests specific controls and, in a Type II, how they operated over a period.
- Market: ISO 27001 is widely recognized in Europe and internationally; SOC 2 is asked for most often by North American customers.
How to decide
Ask your customers and read the tender requirements. If you sell mainly in Europe, ISO 27001 is usually enough. If you have American customers or provide SaaS services to them, you will probably be asked for SOC 2.
Many controls are shared, so work done for one also serves the other. Companies that need both usually start with whichever is requested first.
