Privacy regulations have increased in complexity leading to a greater need for data privacy management. However, when it comes time to secure a budget for privacy management resources, it’s often hard for CPOs to quantify the return on investment (ROI).
TrustArc and Forrester Research discussed the potential ROI that enterprises may realize by deploying the TrustArc Data Privacy Management Platform. The newly released “The Total Economic Impact ™ of TrustArc Study” outlines the cost savings and business benefits for organizations enabled through TrustArc.
The Forrester Consulting team conducted in-depth interviews with our customers and analyzed the benefits, costs, and risks associated with implementing the TrustArc Data Privacy Management Platform (DPMP).
Before working with TrustArc, 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 TrustArc 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 TrustArc 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.