Exterro has launched Exterro Smart Data Inventory, a new solution designed to help organizations create, monitor and maintain a defensible privacy program based on a single intelligent and dynamic data inventory on record types, assets, third parties and processing activities.
In order to establish an effective data privacy and governance program, organizations must be able to quickly obtain a real-time picture of the data that exists in their internal environment as well as cross-border data transfers. Given the sheer volume of data, many organizations struggle to maintain an accurate and up-to-date inventory needed to comply with a complex global regulatory environment.
Exterro Smart Data Inventory accelerates time to compliance by reducing processing activity logging time, eliminating redundant questions, automatically detecting high-risk processing through regulation, and integrating data discovery technology.
“A company’s ability to meet its compliance obligations is directly affected by its ability to understand what information it has, where it is located, how it is processed and how long it retains it – whether CPRA, GDPR, PIPL or any other privacy regulations. Without a smart, automated approach to creating a comprehensive data inventory, it makes an already difficult and time-consuming process all the more difficult” , said Ray PathakVice President of Privacy at Exterro.
“Exterro’s intelligent data inventory capability is the industry’s first truly integrated solution to seamlessly bring together best practices in privacy intelligence, process orchestration, advanced artificial intelligence (AI) and data governance on a single platform to eliminate many of the headaches that come with having to manually create and maintain a data inventory. »
Completing a comprehensive data inventory is considered the first and most important step in developing a defensible data privacy and governance program. It is also the longest and most expensive step which, when done manually, can take months, is rendered inaccurate or already obsolete by the time it is completed, and can cost several hundred thousand dollars. Some of the key benefits that Exterro Smart Data Inventory offers customers include:
Accelerated compliance: Natively integrated with Exterro Data Discovery, Exterro Smart Data Inventory accelerates compliance with global privacy regulations. Compliance is also accelerated by a fully configurable rules engine, allowing users to create automated policy enforcement triggers based on privacy, security, or other internal organization policies.
Increased productivity and efficiency: Built-in artificial intelligence technology enables productivity gains between departments and stakeholders by personalizing suggestions based on role and response history, as well as offering proactive recommendations based on specific regulatory requirements . Intelligent Data Inventory also increases team productivity through automated, AI-driven discovery of sensitive personal data and data subjects.
Exterro Smart Data Inventory also eliminates redundant frequently asked questions in PIAs/DPIAs via a powerful rules engine that automatically detects whether sensitive PII and/or vulnerable data subjects are part of the processing activity (i.e. say a business process), which significantly reduces the time organizations spend collecting data inventory information from their business users.
Improved accuracy and collaboration: A consolidated data workflow eliminates outdated and inefficient survey methodologies such as manual questionnaire administration, while enabling business users and privacy champions to collaborate, increase information accuracy, and streamline the process of recording, reviewing and approving data processing activities.
Simplified operations: Building a comprehensive and defensible data inventory today is mired in complexity due to the exponential volumes of data ingested daily and the dynamic nature of the data itself. Exterro Smart Data Inventory helps users alleviate much of this complexity by reducing the effort required to map, organize and contextualize all relevant data and facilitates inventory maintenance by automatically tracking and capturing any changes in an environment.