As organizations seek to improve the consumer experience, and secure the competitive advantage associated with brand trust, it is crucial that businesses leverage on consumer personal information assets in the most appropriate way. With the increasing take-up of cloud computing, and the globalization of systems, processes, and supply chains, coupled with the proliferation of social media and mobile devices, more consumer data is being collected, retained, disclosed, and transferred around the world.
This, in addition to the constantly evolving nature of organizations due to mergers and acquisitions, organizational restructuring, new system implementations and the complex, changing legal and regulatory landscapes, has resulted in privacy becoming one of the tougher challenges that many organizations are facing.
To minimize risks, and the amount of time it will take to meet new regulations, organizations first need to adopt a fresh mind-set on navigating the risk landscape. To accomplish this the following should be considered:
- Do I understand my organization’s privacy obligations, risks, and if our compliance strategy is fit for purpose?
- Am I making sound decisions and plans with regard to technology and business transformation initiatives involving personal information (e.g. customers and employees)?
- Do I have a clear view of what personal information is being processed where, by who and for what purpose?
- Am I confident in my organization’s ability to detect and manage a data breach effectively?
- Do I monitor both internal and third party supplier compliance in respect of privacy and security?
- How has the current privacy legislations impact our enterprise operations and risk appetite?
- Is it necessary for the business to adopt a privacy by design mindset?
Our privacy services
KPMG’s Privacy services helps you manage regulatory obligations and enables you to leverage personal information to create value and increase revenue while meeting the expectations of your customers, employees and vendors. With our deep experience of supporting organizations, we’ll help you develop a tailored plan to safely manage information and adopt a structured and flexible approach to meet the needs of your business.
How can KPMG help?
KPMG firms offer a global, multidisciplinary view of risk, helping you to address your privacy challenges in meeting regulatory obligations and managing risks. Our unwavering commitment to precision, quality, and objectivity can help you embed protection and trust into all your activities, not just your technology, to create a security culture.
KPMG can offer these benefits because we can bring an uncommon combination of strengths — technological expertise, in-depth business knowledge and creative professionals who are passionate about protecting and building your business.
