BRYTER, the no-code automation platform, and Compliance Week, a leading publication for ethics, governance, risk, and compliance professions, have today published the results of a global survey of compliance and data privacy professionals in a new report: “Closing the Data Risk Gap: How Technology Enables Data Protection.”
The findings revealed five key themes: the risk presented by data privacy and security is real; time-consuming tasks are ripe for scaling with tech; intranet policies aren’t working; technology is core to the strategy; and making knowledge scalable is the future.
Overcoming risk
For data privacy and compliance professionals, data protection presents a real risk. 47% of respondents said they have experienced a data protection incident in the last ten years. Only 20% were very confident that their team had the right tools to effectively manage a data breach.
Educating employees was ranked the #1 most important lever to pull to best manage data protection risk, followed by making knowledge available through user friendly employee facing applications. But educating staff efficiently presents its own challenges.
Educating at scale
For those managing compliance, a large chunk of time is spent answering questions one-on-one: The majority of respondents (57%) spend more than 1 day a week answering frequently asked data protection related queries.
Though resources are often available via their organization’s intranet – 67% of respondents said internal clients and business functions get answers to data protection queries by finding policies on intranet – 78% of respondents said internal clients and business functions still found information on data protection by phoning, emailing or messaging someone in legal and compliance. Only 17% of respondents were very confident in the ability of these internal clients to independently find the answers they need.
Looking to technology
80% of respondents said that technology was an important or key part of their strategy in managing data protection risk. For strategies to simplify data protection processes and procedures, approaches center evenly around four core pillars: enabling self-services (practiced by 39%), investing in new tech (43%), standardizing processes (64%), and training employees (58%).
Of the results, Michael Grupp, CEO of BRYTER, says, “It’s clear that technology plays a huge part not only in reducing the risk of data privacy issues, but in making compliance easier by facilitating education. Introducing more accessible self-service tools is clearly something respondents are interested in, but still out of reach for many — unless compliance and data privacy officers are also empowered to create their own solutions.”
Grupp presented on the preliminary findings of this report at the 2022 Cyber Risk and Data Privacy Summit, as part of a panel with Ann Chaglassian, Chief Compliance Officer for the Americas at Mercer, and Professor Darren Hayes of Pace university.
To access the full findings, download a free copy of the report here.
Enquiries to: communications@bryter.io
About Compliance Week
Compliance Week is an information service on corporate governance, risk and compliance. It was started in 2002 and features weekly electronic newsletters, a monthly magazine in print, proprietary databases, industry-leading networking events, and a variety of interactive features and forums.
About BRYTER
BRYTER is the no-code app builder that enables business experts to build digital apps. BRYTER gives enterprise teams the tools to build digital applications to provide faster, more accurate services to their colleagues, without programming. BRYTER is especially geared to professionals in law, compliance, accounting and finance, who use workflow automation and no-code to streamline complex, recurring decisions and scenarios. Global brands from consumer industries (McDonald’s), through financial services (ING Banking Group) to professional service firms (Deloitte, PwC and KPMG), use BRYTER to deliver services digitally. BRYTER is a remote-first company with offices in New York, Boston, London, Paris, Frankfurt and Berlin. www.bryter.com