Simplifying the GDPR compliance journey with Privacy IQ
Jul 30, 2018
The launch of the new General Data Protection Regulation (GDPR) is the most ambitious and far-reaching amendment to data protection legislation in the UK to take place in a generation.
It represents a significant shift in not only good practice for the management of sensitive, personal information by organisations across the country, but also places companies under ever greater pressure to effectively and safely handle and monitor their use, storage and disposal of consumer information.
GDPR to add complexity to effective compliance
One of the main issues that businesses are likely to face in the coming years, when it comes to ensuring full compliance with GDPR, is the need to control and monitor their own compliance activities and to demonstrate this fact to key industry regulators.
With new rights for consumers, including the right to know all information that a company holds on them, it is more important than ever that businesses understand exactly where their key consumer data is being stored, who has access to it and for what purpose it is being held.
Companies that fail to effectively manage this process face the prospect of significant penalties along with potential reputational damage.
Being on the ball in terms of GDPR compliance and understanding its impact on processes and data management controls is therefore essential.
To do this, we advise asking the following questions:
- Do you know what personal data you have and how it is used?
- Can you identify your highest risk processes, datasets and systems?
- Are your policies updated to GDPR standards, and are they visible?
- Can you easily track the effectiveness of your controls and those requiring remediation?
- Are you poised to timely and effectively respond to data subject access requests?
- Can you provide an audit trail of key decisions and operations related to GDPR?
- Are you able to evidence your compliance journey in an effective way to a third party or a regulator?
Introducing Privacy IQ from PwC
Privacy IQ is a powerful tool for businesses. It enables organisations to upload and examine their processes, documentation and risks providing a clear way to demonstrate compliance to the GDPR.
Privacy IQ has been designed in line with recommendations from the ICO and by PwC professionals, to help organisations consider how they will bring their processes and activities in line with GDPR.
Also introducing a wide range of additional tools to log data privacy risks and the controls your company has in place to manage them, Privacy IQ allows you to continuously manage and track your compliance performance.
Organisations will have demonstrated varying levels of compliance as of the 25th May deadline for the introduction of GDPR; but, with the support of Privacy IQ, we can help to ensure the long-term sustainability of your compliance program.
Key benefits of the tool include:
- Improved return on your investment in GDPR compliance
- Absolute clarity over your data protection compliance efforts
- A holistic view of your compliance risks and controls
- Confidence in the operational effectiveness of your data protection controls
- A strategic framework of data protection controls, which reduce the need for costly firefighting
- Evidence to demonstrate the effectiveness of your controls to customers and regulators
Manage compliance actions and track progress
GDPR requires that some operations be carried out on a regular basis, including the reporting of data breaches, conducting regular Data Protection Impact Assessments (DPIAs) and the processing of Rights Requests from individuals.
All of these operations can be fully monitored when using Privacy IQ, ensuring actions are not forgotten and the essentials of GDPR compliance are being worked on all the time.
Utilising enabled technology that is tailored to meet your specific corporate needs means that companies can continually operate and update key processes, undertake essential reporting and manage their GDPR compliance risk much more efficiently and effectively.
Sustained compliance with GDPR also requires a great deal of coordination throughout a business, which will undoubtedly take the form of emails, meetings and registers. Keeping track of this deluge of information can therefore be challenging, however Privacy IQ lets you see how you are doing in single place, via Privacy IQ's in-built 'Mission Control' panel.
Support in delivery of positive business outcomes
Finally, one of the biggest potential benefits of Privacy IQ is the fact it is fully scalable to meet the needs of all users. You can use as much or as little of the functionality of the software as you need.
We also offer the opportunity to carry out role-based training in the use of Privacy IQ, as well as helping to implement a range of governance/assurance mechanisms and audit-readiness activities to give you lasting peace of mind surrounding your company's compliance with GDPR.
For anyone wishing to further explore your organisation's potential benefits of signing up to Privacy IQ, get in touch with our extensive team of experts today to find out more by emailing: [email protected]