With talks of an impending recession, now is a critical time for organizations to turn inwards and focus on costly privacy program operations, like streamlining incident management.
We’re all following the news and social media stir. A recession is looming. Rather than harboring feelings of fear and anxiety, take proactive steps today to secure your business and fortify privacy program operations.
What does a privacy program need to be recession-proof?
Here are three questions to ask yourself.
1. Does your privacy program save you time on incident management?
Your privacy program should accelerate efficiency.
Why spend valuable time and effort when there’s a permanent solution to time-consuming privacy tasks?
→ Examples of these tasks include regulatory research, connecting with teams cross-functionally, conducting risk assessment, making a breach decision, and documenting the steps you took to reach the decision.
With RadarFirst Intelligent Incident Management you can streamline the entire incident response lifecycle.
With our patented, automated Breach Guidance EngineTM, you can cut incident response timelines by at least 50%. That means privacy teams can spend more time where it matters the most.
Our requirements for both a recession-proof and future-proof incident management solution:
Connects teams and promotes cross-departmental collaboration
Eliminates time-consuming tasks like incident documentation
And the third requirement is a shameless plug because RadarFirst is the only solution on the market with this capability. Don’t be fooled by imitators, compare solutions.
Streamlines incident response by offering automated, consistent breach decision guidance – in just one-click
2. How much does it cost to operate your privacy program?
The daily cost to operate a privacy program can be expensive. Hiring legal teams or FTEs to research, monitor, and update regulatory changes can eat up a privacy budget.
Important incident response tasks like drafting notification letters, managing third-party contractual obligations, and paying any fees associated with late notification can only add to the financial chaos.
Your incident management platform needs to be able to offset privacy costs associated with:
- Regulatory research
- Notification letters
- Third-party contractual obligations
- Late- or over-notification — with the goal to reduce notification timelines to avoid fines and penalties
> Access our free law library for a taste of simplified regulatory research
3. Is your privacy program scalable for the future?
Looking into the future can be overwhelming when dealing with the problems of today. However, careful planning and consistent scaling can ease growing pains – especially when it comes to incident management.
Reflect on these questions:
- Does your privacy program adapt to shifts in the privacy regulation?
- Is your incident management plan highly configurable to your organization’s needs?
- Does your incident response solution provide a seamless workflow with integrations and partners?
Most businesses have moved or are transitioning to a digital-first approach to incident management. You need a trustworthy partner that shares the same digital mindset.
RadarFirst is an innovative platform that understands the value of digital transformation.
> Access our free Digital Transformation for Privacy Guide
The RadarFirst Incident Management platform is only as successful as the organizations that use our solution. That is why we’re constantly evaluating product features based on client feedback and the latest advancements in privacy.
We want our clients to succeed. We want them to succeed so much that we’ve integrated benchmarking capabilities right into the platform. With analysis and benchmarking features, you can set a course for privacy program maturity.
Use both personalized and industry-specific privacy metrics to help drive organizational change and scale your privacy program for the future.