TrustArc Expands Data Privacy Platform to Automate and Simplify Management of Privacy and Third-Party Risk
New Risk Profile Capabilities Leverage Privacy Intelligence to Provide Holistic Management of Company Privacy and Third-Party Risk
TrustArc, the leader in privacy compliance and risk management, announced a significant expansion to the TrustArc Privacy Management Platform that simplifies and automates the process of managing privacy and data risk across the entire organization. Delivered through TrustArc’s Risk Profile, the new capabilities provide a comprehensive view of risk across company processes and third-party systems and generate automated, actionable business insights.
“TrustArc is the only company that offers a fully automated privacy platform with the depth of privacy intelligence required to navigate today’s complicated regulatory environment and unpredictable business challenges,” said Chris Babel, CEO, TrustArc. “The new capabilities of the Risk Profile provide a simplified view of risk obligations to facilitate quick business decision making. These critical new features further cement customers’ ability to develop a holistic and scalable privacy program.”
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Fortune 100 and global organizations use the TrustArc Privacy Management Platform to automate and simplify their overall privacy, compliance and enterprise risk management programs. The Platform draws on the TrustArc team’s deep industry expertise to offer an end-to-end privacy management experience.
Risk Profile is unique in its ability to bring together considerations with respect to privacy, data-related, and third-party risk, and how to manage a privacy program. To do this, Risk Profile reviews data and records from a company’s business processes, whether internal or from third-parties. It then provides an immediate, continuous evaluation of company risk in accordance with specific laws and corresponding mitigation recommendations. New capabilities of Risk Profile include:
- Automated and comprehensive view of risk across third-party data and internal processes as it pertains to more than 130 laws globally;
- Through a dynamic dashboard with drill-down capabilities, an aggregate view of privacy risk across all systems, vendors, partners, and business activities for simple and holistic management and operations;
- Extension of TrustArc’s Risk Algorithm library five-fold to nearly 1,800 rules across 130 countries; and,
- Simple visualization of risk factor distribution across regions and countries.
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These features make it easier for organizations to: identify high-risk business activities tied to data use within their company, detect and prioritize third party risk, conduct the appropriate risk evaluations, calculate the risk at the business-activity level, aggregate risk across the company, and allow stakeholders to quickly align around risk-mitigation priorities.