Feature
Business Crime & Protection
Are you ready to make the move to PrivacyTech?
By Richard Merrygold (pictured), co-founder and principal consultant, iSTORM® Privacy-Security-Pentesting
identified 343. A 679 per cent increase in only three years. Explosive growth for a market which, before the introduction of the GDPR, hardly existed at all. The market leader in PrivacyTech currently boasts a market
A
valuation of $2.7bn and more than 7,500 customers worldwide. A figure that is even more impressive when it has been estimated that more than 75,000 Data Protection Officers are required in organisations around the world. Giving a market share of more than 10 per cent. Public perception of the privacy landscape has improved, press attention
is increasing and the number of privacy-related roles is at an all-time high. With such an abundance of PrivacyTech available and a renewed focus on privacy, it would be fair to expect to see data protection at the forefront of businesses the world over. The reality, however, is far different. Research conducted by Talend found
that “74 per cent of UK organisations failed to address requests from individuals seeking to obtain a copy of their data within the one-month time limit required by the GDPR”.
52 CHAMBERLINK March 2021
ccording to the IAPP PrivacyTech Vendor Report 2017, there were 44 privacy tech vendors. In the most recent report, issued in 2020, they had
Even though technology and automation are being pushed as the clearest path to compliance, many organisations are cautious to adopt. For those organisations that are ready to make the
move to PrivacyTech and privacy automation, there are some key areas to consider. Firstly, money remains an issue. Privacy has taken
centre stage in recent months and focus on compliance has increased but this has not been immediately
reflected in the budget process. Selling a privacy program to an executive board can be challenging. The benefits are still not widely understood and arguably, there is no tangible benefit. You can’t see privacy. You can’t touch it. It can be hard to demonstrate a return on investment unless of course there is a data breach.
‘It can be hard to demonstrate a return on investment unless of course there is a data breach’
PrivacyTech and automation cost money. To get an organisation to spend
money, there must be a benefit. Before approaching the purse holder, prepare your budget submission properly. Define what the tool can offer and how it can help your organisation improve its processes. The most expensive tool doesn’t mean it’s the best. Expensive can mean complicated
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