TRUSTe announced today at the Privacy.Security.Risk Conference the availability of Data Inventory 2.0 to help businesses prepare to meet privacy regulations including the EU General Data Protection Regulation (GDPR) and minimize data governance risk across their enterprise. The solution combines TRUSTe’s Data Inventory and Classification service, introduced in 2015, along with the new TRUSTe Data Inventory Manager and other technology tools to generate detailed insights into complex data flows.
The IAPP-EY Annual Privacy Governance Report (2015) indicated Data Inventory and Mapping was a top priority on the privacy roadmap for nearly half (47%) of respondents. In order to fully assess privacy and compliance risks, companies need to understand how customer and employee data in their organization is used. This includes knowing what data is collected; where it is stored; who it is shared with; and how long it is retained. For a large enterprise, this can entail hundreds of websites, systems and vendors – and dozens of data types – creating a complex and often overwhelming task for businesses to manage.
TRUSTe Data Inventory 2.0 solves this challenge by providing a comprehensive solution that streamlines the process into three phases:
- Comprehensive enterprise-wide review of customer and HR data flows guided by TRUSTe’s privacy consultants and proven methodology. Process is enhanced by data discovery powered by TRUSTe website and mobile app scanning tools.
- Data is categorized by type and recorded into the new TRUSTe Data Inventory Manager, a centralized / interactive database providing a secure and efficient way to store, search, and sustain information.
- Visual summary of data flows are created and delivered as part of an in-depth report and high level summary to provide an enhanced way to analyze and act upon the findings.
The output is a comprehensive, actionable and sustainable data inventory and visual data flows that are easy to share across the organization and update to reflect changing business activities.
Data Inventory 2.0 is available today standalone or integrated with TRUSTe Assessment Manager to seamlessly conduct PIAs and privacy risk assessments on assets identified in the data inventory. Pricing varies based on company size and engagements can often be completed in 8 weeks or less. For more information visit truste.com/data-inventory or call 888-878-7830.