Incident Response Management Challenges
Hobson & Company, a research firm that specializes in Return on Investment (ROI) and Total Cost of Ownership (TCO) studies, worked with RadarFirst to quantify the value of an automated incident response management solution.
- Decreasing the time spent on incident intake, assessment, and reporting
- Increasing the consistency of the incident management processes and outcomes
- Reducing the chances of damage to business partnerships and brand reputation
Tangible Value of Automated Privacy Incident Management
Save Time & Cost
Reduce time and cost spent on incident assessment
RadarFirst provides automated decision-support guidance, leading users through a consistent, intuitive process for investigating, profiling and scoring data privacy incidents to determine whether the incident is a breach, and provides all documentation to support an organization’s burden of proof obligation under breach laws.
Customers interviewed reported the potential for:
- 30% REDUCTION in time spent keeping up with and implementing regulations
- 95% REDUCTION in annual subscription services or outside counsel costs
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“In addition to time savings, a big win is improved peace of mind, knowing that RadarFirst will make sure the system is always current.” — Director, Privacy & Compliance
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Reduce Risk
Reduce the risk of investigations and fines
RadarFirst enables organizations to: bring consistency and efficiency in conducting automated, multifactor risk assessments; comply with data breach notification laws using its patented Breach Guidance Engine™; and stay current with ever-changing breach notification rules and obligations, helping to mitigate the risk of potential fines or investigations in the future.
Customers interviewed reported the potential for:
- 1 less fine/investigation (equivalent to $1.68M)
- REDUCTION in the potential number of fines/investigations occurring
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“More consistent, documented outcomes with RadarFirst can help reduce the risk of breaches and fines.” — Privacy Team Leader
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Build Trust
Reduce the risk of failing to meet contractual obligations
Third-Party Notification from RadarFirst captures important contractual notification details for each external entity, including multiple notification timelines and contacts, providing easy tracking of notification due dates and proof of compliance with contractual obligations.
- 95% REDUCTION in the number of missed contractual obligations
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“Missed contractual deadlines could have resulted in fines, which could escalate with each missed deadline.” — Compliance Manager
