TrustArc Blog

IAPP & TrustArc Research: Part IV – Privacy has a Strong Influence on Purchase Decisions

July 27, 2018

Part I of this blog post series discussed background, goals, and research methodology of the research report: How Privacy Tech is Bought and Deployed.

Part II illustrated how Privacy Tech Adoption has reached the tipping point: based on purchase plans, it is projected that companies will adopt privacy technology in eight of the ten privacy technology categories.

Part III highlighted some interesting data from the report that shows what the three fastest growing solutions are: data mapping, assessment management, and data discovery.

Part IV will discuss an interesting finding in the research: that privacy has a strong influence on purchase decisions.

Even where budget may not be available for privacy pros, they do have influence over the decision-making. Only a few categories of technology are relatively purely the domain of privacy, but many of the categories where we saw budgets in the hands of IT and infosec show that privacy has valuable input in which technology to acquire or whether to acquire it at all.

For Incident Response, 69 percent of respondents said privacy had input into the decision-making, even more so than the IT team, despite only 28 percent of privacy teams actually having budget authority. Similarly, 57 percent of privacy teams had influence over the Website Scanning and Cookie Management tools, though only 12 percent had the purchase made from their budget. Privacy teams have the most say over purchasing Privacy Program Assessment/ Management tech.

Even though we found some differences whose budget is being used, and who has influence over the buy, we found that most teams derive value from privacy tech. An organization is clearly more likely to be happy with a purchase if it sees use throughout the enterprise. The more teams who get value out of the technology, the more likely those teams are to support its adoption.

All of these technologies reportedly offer at least some value outside of the core privacy team, and a few are used as much or more by privacy champions throughout the organization and other teams like marketing, HR, IT and others.

Overall, this research demonstrates that privacy tech has become an important part of many companies’ privacy programs. To find out additional insight into this growing trend, read the full report.