New Addition to the TrustArc Privacy Platform Provides Critical Resources to Help Businesses Meet Fast Approaching May 25th GDPR Deadline
TrustArc, the leading data privacy management company, announced the addition of over a dozen privacy assessment solutions to further accelerate the process by which companies meet the impending May 25th GDPR deadline and maintain compliance afterward. Powered by intelligent content, the GDPR Assessments incorporate automated compliance capabilities including risk calculations and regulatory logic to make the assessment and reporting processes faster and easier. Available as significant additions to the TrustArc Privacy Platform, the library of GDPR Assessments integrate with TrustArc Assessment Manager, Data Flow Manager, and Individual Rights Manager to help automate workflow and generate compliance reports.
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“Privacy regulations like the GDPR are inherently complex to manage. With today’s launch of the GDPR Assessment Library, we’re extending the unmatched compliance support we already offer within the TrustArc Privacy Platform to meet the demand for solutions that achieve more scalability and efficiency in processes such as risk calculations and reporting,” said Chris Babel, CEO of TrustArc.
With more than 200 pages and close to 100 different articles and recitals, the EU GDPR introduces a broad range of privacy compliance requirements, which any organization that handles personal data about individuals in the EU must comply with by the rapidly approaching May 25 deadline. If they fail to comply by this date, they risk facing steep fines of €20 million or up to 4 percent of global annual revenue, whichever is higher.
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According to a recent IAPP report, on GDPR readiness and risk, as many as one in four companies do not expect to achieve compliance before the deadline. To meet the demand from companies seeking support for GDPR compliance, TrustArc is expanding its library of privacy assessments with the launch of over a dozen GDPR Assessment Solutions. Together, these new assessments provide an automated and structured approach and methodology to translate complex privacy regulations into a streamlined review process.
GDPR Focused: The assessments address GDPR requirements including Data Protection Impact Assessments (DPIA), Individual Rights, Legitimate Interests and Vendor Risk.
Automation for Sustainability: Powered by Intelligent Content, the assessments leverage automated functionality to make reporting faster and easier with capabilities such as gap analysis, risk calculations and remediation recommendations.
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