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Edmonton, Alberta (January 10, 2023) – OneSoft Solutions Inc. (TSX-V:OSS; OTCQB:OSSIF) (“OneSoft” or “Company”) today announced that its wholly owned subsidiary, OneBridge Solutions Inc. (“OneBridge”), has recently been certified as being SOC 2 Type 2 compliant.
Significance for OneBridge Customers
Information security management and mitigation of potential data breaches continues to increase in importance for all pipeline operators. Computing platforms like Microsoft Azure generally offer better security than legacy, on-premise systems. We believe that Microsoft's cloud computing platform provides the utmost in data security today and that an Azure born-in-the cloud solution, like OneBridge’s Cognitive Integrity Management (“CIM”) solution, is better positioned to protect customer data from modern information security threats than legacy software systems, including those that have been retrofitted to offer some component of cloud functionality.
All OneBridge’s customers and prospective customers consider data security to be of high importance when considering or engaging vendors to work with. Several customers to date have elected to adopt CIM, in part, because of our commitment to achieve SOC 2 Type 2 compliance and view this certification as a necessary requirement for their next generation solutions. We believe that information security is paramount in all of our product and service offerings, have invested heavily in it to date and will continue to invest in the future as an industry and technology leader to maintain this highest level of information security practice.
“Achieving SOC 2 Type 2 compliancy status is a significant milestone in our ongoing commitment to deliver information security and data privacy for our customers,” said Chief Technology Officer, Jordan Dubuc. “We’ve raised the bar in the pipeline industry for third-party solutions and services that work with sensitive pipeline integrity and operational data and support that pipeline operators should rightfully continue to demand equivalent data security from their information technology and software systems vendors, whether offering legacy or next generation cloud systems.”
About AICPA SOC 2 Type 2
Developed by the Auditing Standards Board of the American Institute of CPAs ("AICPA”), SOC 2 (“System and Organization Controls”) compliance attests to a service organization’s capability and practices of maintaining adequate controls to manage information and data relevant to selected trust services criteria. Certification is achieved following a rigorous qualification and audit process performed by a third-party CPA firm and the issuance of a SOC 2 report which contains the auditor’s opinion regarding the design and operating effectiveness of certain OneBridge internal controls. SOC 2 ensures that a company’s information security measures are strong enough to withstand the challenging requirements of today’s cloud environments.
About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premises licensed software applications to operate on the Microsoft Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.
OneSoft's wholly owned subsidiary, OneBridge Solutions Canada Inc., develops and markets revolutionary new SaaS solutions that use advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs, and address regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.
For more information, please contact.
OneSoft Solutions Inc.
Dwayne Kushniruk, CEO
Sophic Capital Inc.
Sean Peasgood, Investor Relations
This news release contains forward-looking statements relating to the future operations and profitability of OneSoft Solutions Inc. (the “Company”) and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided to deliver information about management's current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.
In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: the impact of Covid-19 on the business operations of the Company and its current and prospective customers; the availability and cost of labor and services; the efficacy of its software; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally and which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and is reasonably accurate; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; that there are no unforeseen material development or other costs related to current growth projects or current operations; the success of growth projects; future operating costs; interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; the sufficiency of budgeted capital expenditures in carrying out planned activities; and no changes in applicable tax laws. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.
Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by Canadian securities law.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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