Hey there, it’s time to make a shift from trust-based to evidence-based privacy.
With the introduction of GDPR and CCPA, companies in Europe and the US have been striving to comply with privacy regulations by adding new teams, processes, and tools. However, a recent scan by Privado.ai revealed that a significant portion of websites and mobile apps are still not privacy compliant.
Why Trust-based Privacy is Failing
Traditional privacy tools have relied on trust, assuming that consent management platforms and privacy impact assessments are accurate. However, as data volumes increase and technology evolves, this trust is breaking down, leading to fines and enforcement actions by regulators.
In response to the escalating fines, regulators are now demanding evidence of compliance, signaling the need for a shift towards evidence-based privacy solutions.
Transitioning to Evidence-based Privacy
In order to meet the growing demands of privacy regulation and enforcement, we need traceable data inventories, objective compliance assessments, and real-time risk monitoring for software products.
By monitoring privacy risks at the source – software, companies can gather the necessary evidence to ensure compliance, proactively mitigate risks, and generate accurate compliance reports.
Understanding Product Privacy Management
Product privacy management involves monitoring software products to mitigate privacy risks, providing complete data visibility and continuous privacy governance at scale.
This approach is crucial for companies processing personal data across various platforms, enabling them to verify compliance, remediate risks, and ultimately, enhance data privacy.
Approaches to Product Privacy Management
- Code scanning
- Live product scanning
- Manual assessments
Benefits of Product Privacy Management
- Complete data mapping coverage
- Real-time data flow visibility
- Continuous and comprehensive privacy risk governance
- Preserves data security
- Rapid time to value
Key Takeaways
- Privacy teams need evidence-based solutions
- Regulators are asking for more evidence and issuing more fines
- Product privacy management enables evidence-based privacy at scale
Learn More
For more information, explore our complete guide to product privacy management or take a look at the Privado.ai platform overview.
