What is Data Privacy Management Software?
Data privacy management software is a class of software that enables enterprises to store sensitive data in compliance with law (e.g. HIPAA, GDPR, etc.). This software ensures that website visitors, application users, and other users’ data is kept private.
The primary focus of data privacy management software is to help organizations ensure regulatory and legal compliance. This has become a larger burden in the digital-first world, and with growing regulations like GDPR that require consistent compliance. These products also help organizations store visitors’ and users’ data ethically in order to maintain trust between the business and end-users. Data privacy management systems also help organizations transition from manual privacy management processes to more automated processes, saving time for IT administrators and privacy stakeholders.
There is some overlap between data privacy management and governance, risk, and compliance software. However, data privacy management software is distinct in its focus on data privacy systems specifically, while GRC systems are less specialized.
Data privacy management software also automates and streamlines specific data privacy processes, such as fulfilling data subject access requests (DSAR). They also frequently have data discovery and management tools to help organizations at every stage of data privacy complexity. Most leading providers will also support automatic updates to reflect new and evolving regulatory requirements.
Features of Data Privacy Management Software
Data privacy management software provide the following features:
Data ingestion and discovery
Risk assessment framework
Customer consent management, data retention consent proof
Compliance modules for specific governance policies (e.g. GDPR)
Management of compliance across geographies
Data Privacy Management Software Comparison
When comparing different data privacy management software, consider these factors:
In-House Regulatory Researchers: Is the software supported by automatic updates from in-house regulatory researchers? Having a manual team allows some vendors to more rapidly and effectively update workflows, criteria, and notifications within data privacy management systems. This is particularly relevant for organizations that must comply with multiple regulatory systems at once.
Internal Data Management vs. User Consent Management: Is each product more focused on managing private data itself or the user consent data? The latter is particularly important for online businesses that must be very proactive in collecting and tracking user consent for data collection and storage. Some more traditional organizations may place greater emphasis on software that efficiently tracks and reports on types of private data itself.
Jurisdictional Support: All data privacy management vendors should robustly support GDPR compliance, but support for other regulatory jurisdictions may vary. Buyers should consider what jurisdictions their business falls under, and verify with potential products that their specific use case is well supported and updated.
Most leading vendors offer specific data privacy packages tailored to specific use cases, such as risk management or user consent management. These components range from $100-300/year apiece. Some data privacy management products offer free base plans and trials.