Privacy Management with GRC

Privacy Management is currently one of the hottest use case areas, due to increased amounts of regulatory pressure and regulations such as EU GDPR. Privacy related use cases that are utilized within GRC Platforms are listed below: 

  • Privacy Engineering Management
  • Data Element Inventory
  • Privacy Risk Management
  • Privacy Compliance Management
  • Third Party Management
  • Incident and Breach Management
  • Privacy Impact Assessments
  • Issue Remediation and Exceptions

Related GRC Software Features

GRC Platforms have several functionalities to kick-start and manage different privacy management processes. Some of relevant GRC software functionalities are listed below: 

  • Pre-loaded Privacy regulations and laws
  • Pre-loaded privacy policies and controls
  • Pre-loaded privacy impact assessment examples
  • Asset Management (Products, Services etc)
  • Auto-launch impact assessments
  • Approval workflows
  • Personal Dashboards and Reports
  • Advanced access control mechanisms

Process Level Benefits

Implementing privacy management processes with a GRC software provides rapid benefits on the maturity of the definition, execution and monitoring of the privacy processes. Here are some process level benefits listed below: 

  • Visibility by automated privacy impact assessments
  • Reduction in redundant privacy compliance efforts
  • Greater ability to achieve privacy by design concept
  • Greater ability to respond privacy incidents effectively
  • Efficiency in managing data and flows

Integrated GRC Benefits

Implementing privacy management processes with a GRC software comes with multiple benefits for other relevant processes such as Compliance, Audit, Security, Risk  and Business Continuity Management. Some of these benefits are listed below: 

  • Integration with security, risk, third party management
  • More collaboration and oversight on related processes
  • Overall confidence on organization's privacy compliance
  • Agility to adapt new privacy regulations with all components
  • Better allocation of human and financial capital to privacy compliance  –  Let us show how GRC Privacy Management Solutions work!

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