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Governance Risk Compliance

Software on Power Privacy, Security and Trust

A.I. Driven comprehensive cloud software suite for
Governance Risk Compliance and Privacy management with
GDPR, CCPA, PDPL, ISO27001 and other Regulations/Standards

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Governance Risk Compliance Software Tool

Governance, Risk and Compliance Software (GRC)

grc

What is GRC? GRC software, streamlines risk management procedures, complies with legislation and develops organizational policies while lowering costs and increasing incentives for business growth. The GDPR refers to the businesses' data processing operations, irrespective of scale, that are data processors or controllers for an EU establishment.

Why is it important? Why does GRC matter? Effective implementation of the GRC helps the organization reduce risk and improve  control efficiency, safety and compliance through an integrated and unified approach that reduces the ill effects of organizational silos and redundancies. Cyber Safety approach the GRC. GRC allows an organization to promote a well-coordinated and organized security organization.

General Data Protection Regulation (GDPR)

gdpr

What is GDPR? Is a legislation of the European Union and of the European Economic Area, of International data security and privacy rule. It also deals with transferring personal data outside of EU and EEA areas.

What is GDPR’s aim / purpose? Nowadays, cyber security has pioneered data protection. As of 25th May 2018, the EU's General Data Protection Regulation (GDPR) has entered into force and its purpose is to address data protection issues in all  forms of media around the world. As a rule aimed at protecting the privacy of EU citizens (regardless of the  location of their data), the expectations of the GDPR try to be as independent as possible from the complexity  of the systems involved. EU courts, now in effect, can severely punish any company in the world that mishandles its citizens' data in accordance with regulations. Furthermore the GDPR's concerns are not just punitive while their goal is to provide a comprehensive model of personal data protection ideals (on the EU side).

What happens if a company fails to comply with the GDPR?  This is well-presented that the possible GDPR breach penalties are increasing to € 20 m or 4% of the worldwide annual sales, whichever is higher.

How businesses can benefit from GDPR? The GDPR would offer companies a variety of benefits including: 

  • Growing consumer trust: Consumers are becoming much more sophisticated when it comes to their rights, and are increasingly aware of where and with whom they share their data. Under the new system, companies that can show a consistent approach to the processing and use of personal data would have much greater chances of gaining customer interest and trust. 
  • New Market Chances: Similarly, businesses that give people power over their data and are increasingly understanding and respecting the rights of citizens under the GDPR would be in a far better position to attract new business. Organizations with clear data policies and procedures, as well as a good understanding of the new legislation, are much more likely to attract and keep customers. 
  • EU-wide integrated data security laws: The GDPR will, at least in principle, bring about some harmonization and continuity across the EU, with each Member State enacting the same legislation. In fact, countries will still be able to enforce local laws in some areas but there will be a more consistent legal landscape. On a more macro-level, some harmonization around personal data security would improve consumer interest in the digital economy and create new opportunities for business development.
  • An Innovation Forum: Any major change in industry provides opportunities for entrepreneurial thinkers to adapt and innovate. If it simply takes the time before the law comes into force to check how the amendments will affect your data collection and sharing practices, or to find new ways to place your company, companies that resolve these issues early will have an advantage over their competition.

Benefits of ISO 27001:

ISO 27001

ISO 27001 (formally known as ISO / IEC 27001:2005) is an information security management system specification (ISMS). An ISMS is a policy and procedural framework that includes all legal, physical, and
technical controls involved in information risk management processes within an organization. 

Any company that wants to operate in an environment where safe file transfer is a priority will support other organizations that have been accredited to comply with ISO 27001. This states that the ISMS in place is legal, and regular steps are being taken to ensure it is as secure as possible.

The ISO / IEC 27001 is the only universal standard which can be reviewed and which specifies the  specifications for an ISAP-ISMS program. The prototype is designed to ensure proper and balanced security checks are selected. This choice helps an organization protect its assets, and stakeholders, particularly its customers, have trust in it. 

Some of the benefits are:
  • It shows through an impartial body that the organization's internal audits are performed and follow the organizational goals and strategies.  
  • It indicates that the law and uniform regulations in question apply.
  • This provides a competitive advantage in meeting contractual obligations and tells customers of the organization that the protection of their information is of utmost importance to the organization. 
  • It demonstrates through an independent body that the organizational threats have been satisfactorily and correctly identified, assessed and controlled. 
  • It shows that the good governance and business continuity criteria are met.
  • It stresses the presence of an official and usable information security program.
  • Proves the organization's top management dedication to ensuring its knowledge is safe.
  • It points out that all information stored, processed or communicated via information systems has organizational value.
ISO / IEC 27001 uses risk evaluation to set up a management system that provides:

  • Maximize the availability of the systems.
  • Confirmation of system, application and information systems integrity.
  • Confirmation that the information is being kept private.

The importance of CCPA:

ccpa

The CCPA would have a significant effect on corporate privacy policies in all technology, media, entertainment, and telecommunications (TMT) industries. Brands centered mainly on the US and markets in the Americas largely escaped the impact of GDPR. Nonetheless, the rising tide of consumer and legislation concerns about privacy is driving mobilization of data protection through TMT globally.

Considered one of the most comprehensive data security regulations in the United States, CCPA allows citizens  in California the right to monitor how companies handle their personal information. Companies will now be forced to respect California residents requests to view, delete, and opt out of sharing or selling their details. In addition, companies would have to address a range of CCPA-specific provisions when upgrading their privacy policies, such as the prescriptive opt-out steps taken by the CCPA, and the need to avoid selling customer data upon request by any person.

How Enactia helps?

Enactia Ltd is a collaboration of experts specializing in the areas of development of cyber security, data  privacy, compliance, corporate governance, and software cloud applications. The flagship product of Enactia is an online platform which is available via subscription as a cloud application for businesses around the world. Enactia has been developed to help resolve recent privacy guidelines and regulations worldwide. 

Data Protection and Privacy Advisory services, IT Privacy reviews and assessments (IT Audits / Cyber security reviews / Penetration Testing / ISO 270001 compliance) are already part of most organizations. When using Enactia's Cloud Software, you can claim that you shall be in compliance with GDPR or other similar legislation or guidelines from other jurisdictions and work in a methodical efficient manner.

Cloud Software for GRC

A response to growing data privacy 
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