Discovery to Assessment Timelines Down 20% for RadarFirst Users
Privacy Program Metrics
As I was reviewing a draft of the recently published 2022 RadarFirst Privacy Incident Benchmark Report, I was reminded of the value of digital transformation through the use of the RadarFirst intelligent incident management platform. The phrase “digital transformation” is commonly used, and potentially at risk of becoming devalued – unless a provider can back up the value proposition with data.
In our latest benchmark report, we explore incident management timelines through such metrics as “Discovery to Assessment,” to learn more about how our users identify and triage incidents through privacy risk assessment. In this chart, we’re able to demonstrate that across all industries, we have helped our customers reduce this time by over 20% through the continued use of our product.
When it comes to compliance, time is the enemy of an effective incident response program. From the moment an incident is discovered, the longer it takes your organization to answer the question, “Is this a breach event in which we are obligated to notify?” the potential for risk continues to grow.
Digital Transformation for Efficiency
What also struck me was that the report metrics do not reflect the initial impact of moving from (most likely) a manual approach to the RadarFirst platform, where some customers have reported time savings as high as 80%.
While pulling together this blog, I searched the term “digital transformation” and found the following definition: “The process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements.”
Clearly, an ongoing reduction of over 20% in elapsed time between “Discovery to Assessment” on top of an initial, significant reduction, qualifies as a tangible digital transformation.
Of course, your privacy team’s work isn’t done after a risk assessment is conducted. Whether new information about the incident arises and your team must reevaluate the scope of the risk, or things progress to the level of required notification, remediation, and analysis, the benefits of digitally transforming your privacy incident management processes compound when you embrace technology.
Topics: Benchmarking Series