SOC 2 in 140 characters:
SOC 2 assures clients we use systems to protect their data. It audits security, availability, process integrity, privacy and confidentiality.
The longer version:
SAS70 was designed to audit controls whereas SSAE was designed to attest to the validity of systems fitness for a particular purpose. The differences are more obvious at the associated SSAE SOC level. SOC 1 is primarily designed to review financial reporting systems. SSAE SOC 2 covers operational control systems following a predefined Trust Services Principles and Criteria around security, availability, process integrity, privacy and confidentiality. SOC 3 documents relate to whether service organizations systems met the SOC 2 criteria but do not describe the tests or results achieved.
Our SSAE SOC 2 reporting assures our customers that we have adequate control systems in place to safeguard their data and information.