PHOENIX, April 23, 2020 /PRNewswire/ -- The first comprehensive privacy rights research study reveals 92% of companies are concerned about new consumer rights under the California Consumer Privacy Act (CCPA) with 51% believing this is the hardest part of CCPA compliance and 64% planning to spend more than $100K on compliance in 2020. Despite changing IT priorities and tightening of spend due to COVID-19 measures, 56% of data privacy professionals are expecting there will be an increase in rights requests as a result of COVID-19.
The research found that consumers are actively exercising their rights under CCPA with 51% of companies receiving more than 10 requests a week and 20% receiving more than 100 requests a week. Conducted by Dimension Data on behalf of Truyo, an IntraEdge product, powered by Intel, the research surveyed 221 data privacy decisionmakers at companies with more than 1000 employees between 3/31/20-4/13/20.
Dan Clarke, President of Truyo said: "With changed behavior due to the covid control measures Americans are increasingly online and on zoom sharing more data than ever before. What was already a compliance headache for privacy professionals is now only likely to increase with the additional requirements for employee data and a spotlight on companies to protect consumer privacy ahead of enforcement starting in July.
"The Truyo 3.0 platform enables companies to efficiently manage both consumer and employee privacy rights reducing the overall cost of compliance through full end-to-end automation including fulfillment of requests."
What have companies done to address CCPA privacy rights?
Companies are taking the new legal requirements seriously with 59% investing in new tools to address CCPA privacy rights. Product features and automation capabilities were the top requirements for executives when choosing a third-party provider with a focus on long term scalability through automation while managers were more focused on costs. The research also revealed a chasm in understanding between IT and Legal departments on what's involved in managing data with 55% of legal professionals saying their solution was fully automated and only 13% of IT.
With the exemption for employee rights under the CCPA due to end on December 31, 2020, 92% of privacy professionals said they planned to extend privacy rights to employees with 62% planning to offer these to all employees not just those in California. Only 15% say they intend to wait until this is a legal requirement under the CCPA.
74% are tracking progress in the introduction of new state privacy legislation outside of California. For 64% additional state legislation is the biggest driver to introduce a third-party tool to support compliance.
Truyo announces 3.0 Platform Release
Latest release includes key features to support data privacy professionals' compliance priorities:
Manage requests by brand
Separate workflow for employment request versus a consumer request
Verification questions, per request type
Match different pieces of data based on the sensitivity of the request
Access request approval process
Segments all right to know or subject access requests into a review status
Abbreviated right to know (Available May 29, 2020)
Presents categories of information to user instead of specific pieces of information.
Advanced reporting and metrics
Accommodates the metrics outlined in the draft operating regulation and reports to help monitor request activity
221 qualified individuals completed the survey between March 31 - April 13, 2020. All were responsible for data privacy as a significant part of their job at a company with more than 1000 employees and had budgetary or technology decision making responsibility at a company that was required to be CCPA compliant.
Enable your end users to exercise their data privacy rights without overburdening your workforce or your budgets. Powered by Intel®, Truyo gives you true SAR, consent and data privacy rights management automation right-sized for your organization.