PrivacyManager by Deloitte

Data is the fuel for customer relationships, innovation, and the digital future.

Today, data is created at every touchpoint between companies and people. Data helps companies give people what they want when they want it. To be there for them in a personal, friendly, and approachable way. In short: data is the fuel of today's customer relationships.

Innovation also needs data more than ever. Without data, the technologies of the future, such as artificial intelligence, cannot be developed further. At the same time, the legal framework for the use of collected data is becoming increasingly complicated. In society, too, there is growing sensitivity regarding the responsible use of personal data by companies, and not just because of various data privacy scandals.

How quickly the transformation into a digital future succeeds therefore depends crucially on the successful and legally secure use of data.

Responsibility grows with the data. And the opportunity for sustainable growth.

The pressure is growing. First and foremost, the EU has created a strict legal regime for handling personal data with the General Data Protection Regulation (GDPR). And although the regulations have been in force since May 2018, only 20% of all companies have fully implemented the GDPR so far.
 

Although the regulations have been in force since May 2018, only 20% of all companies have fully implemented the GDPR so far.

That is negligent: Because 84% of consumers care about how companies handle their personal data. Almost as many (80%) are prepared to act if they do not agree with how their data is handled. This has consequences for companies - both good and bad.

Companies that handle their customers' and employees' data responsibly and earn people's trust grow more strongly. 30% in the next few years, as a new study shows. Most companies are not yet taking advantage of this growth opportunity. Rather, they risk high fines and reputational damage.

Data privacy is still piecemeal. And that costs companies billions.

So far, most companies approach the topic of data privacy on a case-by-case basis, regardless of whether the tasks are recurring. The work lies with a few, often only reacting and, due to work overload, rarely being able to make a sustainable contribution to shaping data privacy requirements. This has consequences:

• Loss of control: If tasks are unstructured, decentralized and handled by individuals, there is no way to monitor and control compliance with data privacy in the company. Compliance with data privacy thus often remains a matter of trust.
• Loss of efficiency: Tasks are processed individually, often reinventing the wheel. Knowledge and information from previous tasks remain unused. Conventional office programs such as Excel and Word are used, which are not designed for managing a complex data privacy organization.
• Loss of quality: A lack of standards, processes and an ever-increasing number of cases leads to a loss of quality. Tasks are left undone for a long time or are only incompletely processed because qualified resources are missing and the cooperation with the knowledge carriers in the company does not work.
• No compliance: This is how the goal of robust and sustainable data privacy compliance is rarely achieved.

This manual work costs money. One study estimates the initial costs of the GDPR for the 500 largest companies in the world alone at $7.8 billion.

Strong alliance: Our technology partnership

Our technology partner Priv specializes in the development of innovative collaboration solutions and privacy-friendly technology design. With Priv, we rely on an intelligent platform for collaboration, task, document, and data management that ensures high user acceptance today and in the future with a strong focus on usability.

In short: With PrivacyManager by Deloitte, acceptance of data privacy in the company grows, resources are used sensibly and efficiently, quality increases and a sustainable and robust data privacy organization is established. Liability risks and loss of reputation are avoided. And opportunities are created.