The increasing complexity of conducting business in the digital world has resulted in the need for organizations to adopt solutions that demonstrate compliance. Consumers care now more than ever what happens with their data when they use these services. The seemingly never ending announcements of global privacy frameworks make matters even more challenging (and dare we say it, costly). The old days of spreadsheets and Word documents are simply not up to the demands of the modern digital ecosystem.
For the second year running, the IAPP together with TrustArc surveyed 345 privacy professionals around the globe to gain an understanding of how privacy technology products are purchased and deployed within an organization. In this 3-post blog series, we will discuss the findings of this data and how you can use these data points in your organization.
Similar to last year’s survey, it is clear that certain technologies belong to the information technology and information security side of the organization, while others clearly fall under the privacy team’s domain. Perhaps the most notable finding from this report is that privacy and data protection professionals increasingly have input into certain privacy technology purchases, though they often have less budgetary control. Of all 11 categories of products surveyed, these privacy teams are most interested in data mapping and data flow management, privacy program management, legal updates, and individual rights management. In fact, the survey showed that these were the top 4 privacy tools that privacy teams specifically planned to purchase within the next 12 months.
In line with last year’s results, enterprise-wide technologies that increase security or affect an organization’s IT architecture have a more mature standing in the marketplace. A vast majority of respondents have purchased, tested and implemented network activity monitoring and secure enterprise communications and thus have no plans to purchase such tools in the near future. Mimicking the trend of security, privacy tools may are speculated to grow with adoption over the next several years.
The biggest driver for privacy tech adoption is the need to demonstrate compliance. With the arrival of the EU General Data Protection Regulation and other more recent privacy laws, including the California Consumer Privacy Act, the need to demonstrate compliance has grown in significance in the last year. This is only the beginning of regional regulations on privacy. In order to keep up with the quickly growing list of laws and regulations, organizations will require technology that offers scalability and efficiency, while guiding them toward privacy compliance.
In Part II of this series, we will discuss how top technology choices compare by the IT office and the Privacy office as well as deployment strategy across top privacy tools.
Learn more about how your peers are buying and deploying privacy technology by downloading the report.