Electronic audit trail makes SOC2 report easier for auditors. You can use paper trail instead, but electronics makes it easier. Few things in the world are required, but some of these compliance things are 'viral' in that if you're a vendor to a guy who needs compliance you need to practice the standards as well.

Besides, visibility is sufficient as a deterrent. Back in India, there'd be a big difference between leaving an old man in a chair in front of the shop and having exactly zero people in front of the shop. There are classes of people you deter with the former who will not be deterred by the latter. The old man is not 'security' - anyone motivated can shut him up without much effort. And yet his presence works.