The new EU Legislation, General Data Protection Regulation (GDPR) is a latest reform of Data Protection Rules that implies new extensive Data Protection Security and Reporting requirements in addition to increased financial penalties for non-Compliance. Organizations can have strong foundations for successfully achieving GDPR Compliance by acting early and adopting a holistic approach which includes leveraging Emerging Technologies like Automation and Artificial Intelligence for Compliance Reporting, team Collaboration, Risk mapping and Compliance testing using Agile Audit.
Here are some of the robust features and functionalities that are offered by Compliance management tools like ConfidentG Agile GDPR Compliance Management built on the number 1 Cloud Computing platform Salesforce.com, that can make GDPR Compliance an easy and intuitive process.
Easy Navigation to GDPR Rules and Controls
The most vital ability for any Compliance Officer is to have an intuitive platform which enables easy navigation to all Industry Regulations in order to monitor, track, assess and report on the relevant Rules and Controls.
Confident Governance’s Governance as a Service platform has a Regulation object where GDPR Rules and Controls can be inserted/edited and this data can be monitored and tracked using sophisticated and customized Page Layouts.One can also track specific GDPR Rules and the Preventive and Detective Controls enabling Agile Compliance management.
Compliance Reporting using Artificial Intelligence powered Wave Analytics
Inadequate or inconsistent Compliance Reporting poses a major challenge of finding out whether all Compliance requirements are being met. Conventional tools for Compliance Reporting are disparate, non-centralized and are tedious to use. ConfidentG Agile GDPR Compliance management leverages Artificial Intelligence powered Wave Analytics for creating sophisticated Compliance Reports and Dashboards, which are customizable and can be pulled up Anytime, Anywhere and on Any Device. This robust functionality is the major game changer which can keep Compliance Officers prepared for full Board Reporting.
Real time Collaboration on Compliance Processes with file sharing and version control functionalities
With Compliance teams getting more dynamic, the functionality of Real time Collaboration is of great importance so that status updates are real time, the Compliance Reports/Dashboards are shared on a secure platform and relevant files are shared with the team with full version control and preview features.Agile GDPR Compliance Management built on Salesforce.com leverages Chatter functionality to enable secure collaboration for Compliance teams. Compliance groups can be created where group members can share files, reports and dashboards with full version control.
Testing GDPR Compliance using an Agile Audit cycle
GDPR Rules and Controls need to be tested using an Audit cycle that is Agile and Automated. Tracking the Milestones, Attributes, Observations & Exceptions and providing Remediation actions are the vital processes of any Audit cycle. Leveraging Agility and Automation for testing Compliance not only ensures accuracy, but also renders time as well as cost effectiveness. Confident Governance’s Agile methodology for Audit Processes reduces the Audit planning time and automates the Audit cycle while also providing the robust Risk mapping functionality to find impact and probability of Risk as well as Risk Severity Analysis.
These Automation functionalities are Agile and takes GDPR Compliance Management to a whole new level of Efficiency and Effectiveness, while also enabling Compliance teams to focus more on staying up to date with the latest Compliance mandates of the Industry. Confident Governance’s Agile Compliance Management Solution powered by Artificial Intelligence addresses overall Compliance challenges by leveraging Automation while reducing Risk and ensuring Compliance.
We will provide more insights on how GDPR Compliance can be mastered in our upcoming posts. Stay tuned !
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