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How Forever Stamp Value Will Affect Postage For Businesses

How Forever Stamp Value Will Affect Postage For Businesses. Origins Of The Forever Stamp, Why Do Forever Stamps Have Special Value?

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How Forever Stamp Value Will Affect Postage For Businesses

If your business involves sending out high volumes of mail regularly, you may need to consider getting Forever Stamps to save on costs. 

These stamps can be bought at the current price of 1st-class mail stamps, which can cover letters weighing up to 1 oz. And use them indefinitely.   

As stamp rates are historically more inclined to increase rather than decrease in cost, getting Forever Stamps can help cut your business spending.  

If you need more convincing on the value-added benefits of Forever Stamps, read on to find out more about these special stamps.   

1. Origins Of The Forever Stamp 

Postage stamp with New York Statue of Liberty, the flag of United States of America and the word freedom forever. Vector illustration of USA stamp with a rubber stamp.

Issued by the United States Postal Service (USPS), the first-ever Forever Stamp was offered to the public in 2007 and featured the Old State House Bell. All 1st-class, 1-oz. stamps became Forever Stamps in 2011. There were some exceptions, though: they were stamps in rolls of 10,000, 3,000, and 500.

From then on, the USPS has used Forever Stamps more fervently, and in 2015, expanded the concept of Forever Stamps to their postcards. 

2. Why Do Forever Stamps Have Special Value?

The value of a USPS Forever Stamp lies in its unlimited validity. As its name implies, this special stamp can be used regardless of when you bought it. Forever Stamp holders can use it for sending international mails, too, with added postage, as fees for cross-country shipping are pricier. 

The USPS said it offered Forever Stamp for consumers’ convenience in times of price movements on its website. 

3. When Should Businesses Buy These Stamps? 

Since 2019, there has been no movement in stamp costs, but this will change come August 29 when, from $0.55, the price for each stamp will rise to $0.58. A letter that weighs more than 1 oz. Remains the same, at an extra 15 cents.

Any time before August will be the best time to get your Forever Stamp. If your business will purchase the special stamps by then, this means your business will be saving $0.03 for every letter sent. 

4. How Can Forever Stamps Help Your Business Postage Costs? 

A savings of $0.03 may not be much, but if your enterprise ships out 4,000 letters in a month, it could translate to $120.    

Bulk-buying Forever Stamps and choosing the best business mail service provider go hand-in-hand in further lowering the postage costs for business. 

Besides customer savings, Forever Stamps also help lower the operational costs of USPS. Because of its seemingly unrestricted use, the USPS doesn’t have to spend money collecting and destroying obsolete stamps.   

These special stamps are also convenient to customers who don’t have to purchase new stamps carrying the current prices (also called ‘denominated stamps’) before or after postage price fluctuations take effect. 

5. How Do Forever Stamps Work?        

Forever Stamps may be purchased at any post office branch nearest your area. You may also check out USPS.com online store. On there, you’ll see stamps in books of 20, for a total price of $11. Notice that you won’t see any price printed on the logo’s face, unlike the stamps sold some decades ago. 

For those who prefer doing the traditional way, you may call the postal office through its toll-free number, 1-800-STAMP-24 (1-800-782-6724). Select grocery stores and gift shops carry this stamp as well. 

These special stamps sell like 1st-class mail stamps. They don’t change in price. They’re also valued at the current price for the 1st-class stamp, not at the price you bought them for. 

A Forever Stamp can be used in the same manner as for regular stamps. You only need to know how much postage fees you need to pay for your letter, stick the appropriate number of stamps on the mail, and drop the letter in the mailbox.   

Of course, you may need to stick more than one stamp, for instance, on mails weighing more than an ounce. 

Buying a Forever Stamp for your business may be cost-effective, being that postage rates are more likely to increase rather than deflate. In the past century, the postage costs shrunk only two times. First, in 1919 from three to two cents, and second, in 2016, from $0.49 to $0.47. The price recovered a few months later.   

6. Can You Use Forever Stamps For An Overseas Mail?

The short answer is yes. So, if your business is planning to send out international mails, too, you may need more Forever Stamps since sending emails outside the country costs more than domestic addresses.  

When sending to an international recipient, all you have to do is find out how much it’s going to cost your business. Divide the total cost by the current price of a 1st-class mail stamp, and you’ll get your answer.   

For instance, if you bought a USD$ 0.30 stamp today and the rates suddenly increased to USD$ 0.50 the next day, and you need to send a mail with postage cost of $1.50, you can place three Forever Stamps, now valued at USD$ 0.50 each, instead of the $0.30 you bought each for.   

The only downside in using Forever Stamps is that you’ll spend more instead of saving on costs in cases where postage rates are just a little over the price of one stamp. 

If your postage cost, for example, is USD$ 0.50, and Forever Stamps are valued at $0.45, you need to stick two of these special stamps on the letter, translating to a loss of $0.40.     

7. Understanding How US Stamp Rates Work

The USPS is one of the largest federal agencies, employing about 6,730,000 workers as of 2020. The agency doesn’t have a hand in setting postage rates. The US stamp rates are regulated by the Postal Regulatory Commission (PRC), supervised by the US Congress.   

Rate increases are rather dependent on inflation rates. When inflation is in effect, the USPS will send a request to PRC for rate hike approval. 

Throughout its price history, the biggest increase may as well have been in 2018-2019, where the price jumped to USD$ 0.55, from $0.50. Technically, the highest increase was recorded from 1980 to 1990, which recorded a $0.10 hike.       

As forever stamps can be used no matter when it was issued, you can try launching an online search to find cheaper ones. Some stores offer discounts on Forever Stamps.    

Final Thoughts 

Because of its cost-saving value, buying several pads of Forever Stamps is beneficial for businesses that require hundreds, if not thousands, of emails to be sent regularly.  

Organizations that employ traditional marketing methods, for instance, should start collecting these special stamps before the scheduled price increase in August to reduce their spending. 

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Security

Penetration Testing Requirements for Achieving SOC 2 Compliance

This article includes a brief introduction to SOC 2, the two types of examinations, and penetration testing requirements to achieve SOC 2 compliance.

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Penetration Testing Requirements for Achieving SOC 2 Compliance

The importance of SOC 2 compliance is starting to become a priority for many companies. Do you think your firm isn’t doing enough to safeguard its customers’ information? Penetration testing might help. To understand the penetration testing requirements that will eventually help you achieve the compliance you desire, it is essential to know a few basics of SOC 2.

This article includes a brief introduction to SOC 2, the two types of examinations, and penetration testing requirements to achieve SOC 2 compliance.

1. What is SOC 2?

The acronym stands for “Service Organisation Control,” an international standard that governs how service organizations manage the risks associated with processing client data. It was developed by the American Institute of Certified Public Accountants (AICPA) in response to global concerns over security following the September 11th terrorist attacks. The standard is divided into two categories: Type I and Type II.

Type I covers the system’s design and how it operates, while Type II examines the effectiveness of security controls put in place. Both are important for businesses that want to ensure their data is securely processed. SOC reports are not intended to be an audit but more of a “snapshot” of the security controls in place on the date of testing.

2. The five principles of SOC 2

The five principles that govern SOC 2 compliance are:

  1. Security
  2. Availability
  3. Processing Integrity
  4. Confidentiality
  5. Privacy

3. The two types of SOC 2 examinations

Under the standards, there are two types of examinations:

SOC 2 Type 1

Type I is a less comprehensive report that only checks if the controls are in place and messages on how well they have been implemented but does not provide any opinion about your compliance with each principle.

SOC 2 Type 2

Type II is a comprehensive assessment that reports on whether or not your company adheres to each principle. It will also include an opinion about how effectively the security controls were implemented.

CYBER SECURITY Business technology Antivirus Alert Protection Security and Cyber Security Firewall Cybersecurity and information technology

4. Is penetration testing necessary for SOC 2 compliance?

While performing a pentest is not technically required for achieving SOC compliance, it is highly recommended as it will help you uncover any vulnerabilities in your system before malicious actors exploit them.

5. Why is SOC 2 penetration testing important?

SOC2 penetration testing is essential because it allows you to identify vulnerabilities in your system before malicious actors exploit them. By identifying and fixing these vulnerabilities, you can help protect your customers’ data from being compromised.

This will require an assessment of your security controls and testing to verify that they are effective in preventing unauthorized access, use, disclosure, alteration, or destruction of information. It’s important to note that the person or company performing the pen test must be qualified and authorized to do so.

6. SOC 2 Penetration Testing Requirements

To achieve SOC 2 compliance, your organization must prove that it is secure on all fronts. This means performing online penetration tests to satisfy all five trust service principles.

The penetration testing requirements are as follows:

  1. Security – Pen testers must exploit vulnerabilities in your systems to gain unauthorized access to sensitive data.
  2. Availability – Test the resiliency of your systems by attempting to disrupt or deny service. Pen testers can do this by redirecting traffic, performing DoS attacks (Denial of Service), or by any other method to take systems offline.
  3. Processing Integrity – Here, a tester may try to corrupt the data stored. Attempts must be made to read, modify and delete protected information while held and in transit.
  4. Confidentiality – Pen testers must attempt to access data they are not authorized to view. This can be done by eavesdropping on network traffic or looking for unencrypted data files.
  5. Privacy – Prying eyes should not be able to see anything they’re not supposed to, so testers will try to access protected information by circumventing access controls. Also, evaluate how well customer privacy is protected through policies and procedures.

7. Who can perform SOC 2 penetration testing?

To be qualified to perform SOC 2 penetration testing, the assessor must meet specific qualifications.

Firstly, they should have the necessary experience in assessing similar systems to yours, which means having a history of performing penetration tests on various other vendors’ products.

Secondly, they must also produce an accurate report that clearly states your compliance with each principle and provides helpful recommendations for improvement.

Finally, you want someone who has vast knowledge and experience with different types of threats so they can accurately simulate a real-world attack.

With that being said, if your company lacks the necessary in-house expertise, it’s best to outsource your pen testing needs to a qualified third party. This will ensure that the testing is done correctly and receive a comprehensive report outlining any vulnerabilities discovered. One such reputed security company is Astra Security, and they specialize in performing penetration tests for various compliances, including SOC 2.

Conclusion

While performing penetration tests is not technically required for SOC 2 compliance, they are highly recommended to help you identify vulnerabilities that would otherwise go unidentified. Not only will this help you strengthen your security posture, but it can also significantly reduce the risk of a potential data breach.

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