Integrated Data Privacy Framework
MetricStream's Privacy Compliance Management solution offers an integrated framework to effectively manage and monitor data privacy regulations like GDPR and CCPA. By integrating content from the Unified Compliance Framework (UCF), organizations can efficiently map over 9,300 IT control statements to more than 1,200 regulations. This ensures a comprehensive approach to privacy compliance, covering aspects from data protection impact assessments to policy management, audits, third-party management, and issue resolution. Real-time dashboards and charts provide actionable insights, enabling organizations to reduce the risk of data breaches and handle personal information securely and compliantly, thereby enhancing trust and mitigating legal and reputational consequences.
Enhanced Oversight and Visibility
MetricStream's Privacy Compliance solution enhances oversight by providing real-time visibility into various compliance activities, including policy statuses, audit histories, and ongoing assessments. The solution offers predefined reports, user-specific dashboards, and graphical representations to strengthen visibility into compliance programs, assessment progress, and overall compliance profiles. With powerful reporting capabilities, risk heat maps, and quantification tools, organizations can gain a comprehensive view of risks and compliance status, enabling proactive risk management and decision-making.
Streamlined Compliance Environment
The solution streamlines the compliance environment by centralizing the hierarchy of compliance elements such as regulations, processes, assets, risks, controls, and audits. It simplifies policy creation, management, and communication processes, facilitating efficient reviews, approvals, and policy distribution across stakeholders. By mapping privacy controls to regulations and policies, organizations can ensure an integrated approach to ongoing privacy and compliance activities, fostering a culture of compliance and accountability.
Comprehensive Risk Management
MetricStream's Privacy Compliance solution enables organizations to enhance data protection impact assessments and risk management through automated Data Protection Impact Assessments (DPIAs). By systematically identifying and assessing data processing risks, organizations can strengthen visibility into IT assets that store personal data. The solution facilitates risk assessment, quantification, and monitoring, providing a robust framework for managing privacy risks and ensuring compliance with regulatory requirements.
Efficient Audit Management
The solution simplifies and automates audits to evaluate the effectiveness of privacy controls and processes. It streamlines audit planning, scheduling, task management, work paper creation, and audit reporting. Organizations can generate comprehensive audit reports, including control applicability statements and risk-prioritized remediation plans for non-compliant areas, enabling continuous improvement of privacy compliance processes.
AI-Powered Issue Resolution
MetricStream's Privacy Compliance solution leverages AI/ML capabilities to intelligently identify and resolve issues arising from DPIA assessments. By automating issue documentation, classification, and remediation processes, organizations can proactively address compliance gaps and mitigate risks. Automated alerts and task assignments ensure timely resolution of issues, enhancing overall compliance effectiveness and operational efficiency.
Advanced Incident Management
The solution optimizes case and incident management by standardizing the handling of data subject complaints, erasure requests, and objections to data processing. It streamlines case recording, investigation, resolution, and reporting processes, enabling real-time tracking and monitoring of case statuses. By centralizing incident management, organizations can respond swiftly to data privacy incidents, ensuring regulatory compliance and safeguarding data subjects' rights.
Third-Party Risk Mitigation
MetricStream's Privacy Compliance solution helps organizations contain third-party risks and ensure business continuity by assessing and monitoring third parties in alignment with privacy requirements. By automating risk and control assessments for third-party data processors, organizations can identify high-risk areas and proactively plan crisis responses in the event of data breaches. The solution facilitates a systematic approach to incident management, enabling prompt incident resolution and compliance with privacy regulations.
Efficient Policy Management
The solution simplifies policy creation, communication, and assessments by offering automated workflows for policy creation, review, and approval processes. Organizations can instantly notify stakeholders of policy updates, manage control tests, self-assessment plans, and compliance surveys effectively. With configurable templates and schedules, organizations can streamline IT compliance assessments, certifications, and self-assessments, enhancing overall compliance efficiency and effectiveness.
Business Value of the Solution
By leveraging MetricStream's Privacy Compliance software, organizations can stay compliant with global data privacy standards, avoiding costly fines and penalties. The solution provides real-time visibility into data privacy compliance posture, issue statuses, and remediation progress, enabling organizations to enhance compliance effectiveness and reduce compliance costs. By harmonizing controls using a risk-based approach, organizations can efficiently manage privacy requirements, mapping regulations to controls, risks, policies, and processes seamlessly. The integrated solution streamlines enterprise privacy assessments, audits, and third-party evaluations, fostering a culture of compliance and resilience.