Privacy regulations have increased in complexity leading to greater need for data privacy management. However, when it comes time to secure budget for privacy management resources it’s often hard for CPOs to quantify the return on investment (ROI).
Today in the second of its three-part webinar series, TRUSTe and Forrester Research discussed the potential ROI that enterprises may realize by deploying the TRUSTe Data Privacy Management Platform. The newly released “The Total Economic Impact ™ of TRUSTe Study” outlines the cost savings and business benefits for organizations enabled through TRUSTe.
The Forrester Consulting team conducted in-depth interviews with our customers, and then analyzed benefits, costs and risks associated with implementing the TRUSTe Data Privacy Management Platform (DPMP). Prior to working with TRUSTe, these companies used in-house lawyers, consultants and outside counsel to get industry best practices, operational guidance and legal advice needed to ensure they were following applicable privacy laws and regulations.
Forrester then calculated the financial benefit for using the TRUSTe Data Privacy Management Platform based on real-customer data. The results were quite telling:
“Based on our analysis of customer feedback, Forrester has determined that deploying the TRUSTe platform has a three-year risk-adjusted ROI of 151% and NPV of $375,000.”
The study helps quantify the impact of privacy investment and demonstrates how the investment for many is a financially sound business decision. For those who are under-investing, it can help them internally develop the business case for increased investment.
The study also provides a framework for all companies to look at the topic of data privacy management, have internal dialogue, and make data-driven privacy investment decisions.
Download your copy of the report here and register today for the remaining session of this informative webinar series:
July 24th – Part III: Privacy Investment Success Stories, featuring Chris Babel, CEO of TRUSTe and partners. Attendees will hear from leading brands on how they manage privacy at their companies and learn best practices and tips on staffing, organizational models, tools, metrics, and much more.