Transform Compliance into a Business Advantage

Transform Compliance into a Business Advantage

A robust privacy program not only safeguards your business from regulatory penalties but also enhances key business functions, leading to measurable improvements across the organization. Use this guide to initiate conversations within your teams and align your strategy around the significant business benefits of a robust privacy program, positioning your company for long-term success.

(For concrete advice on using the insights from this guide to gain buy-in for privacy program enhancements, download our companion guide, Building the Business Case for Data Privacy.)

By building trust with customers, driving more effective and consent-based marketing, streamlining operations, and proactively identifying risks, privacy programs create a ripple effect of benefits. These advantages extend beyond the legal and compliance teams to marketing, IT, security, and leadership, transforming privacy into a key driver of growth and innovation.

Whether your organization is just beginning its privacy journey or looking to enhance its existing program, Osano’s expertise and technology can help you achieve these outcomes. Investing in privacy is not just about avoiding risks—it’s about unlocking opportunities that drive long-term success. 

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Endnotes

Data Privacy Is a Strategic Investment

1. Cisco 2024 Data Privacy Benchmark Study.
2. “From Privacy and Trust to ROI,” Robert Waldman, Cisco Security Blog, January 27, 2020

Privacy Builds Trust with Customers

1. Cisco 2024 Data Privacy Benchmark Study.
2. “How Americans View Data Privacy,” Pew Research Center, May 2023.
3. IAPP Privacy and Consumer Trust Report, March 2023.
4. IAPP Privacy and Consumer Trust Report, March 2023.
5. Global Consumer State of Mind Report 2021, Truata.
6. “Customers want control over their data — and won’t hesitate to switch brands to get it,” Maria Helena Marinho, Elizabeth Tran, Future of Marketing, Google, February 2023.
7. “The Consumer Data Opportunity and the Privacy Imperative,” Venky Anant, Lisa Donchak, James Kaplan, and Henning Soller, McKinsey, April 27, 2020.
8. Pew Research Center Survey, June 2019.

Privacy Improves Marketing Effectiveness

1. Forbes Advisor, June 2024.
2. Forbes Advisor, June 2024.
3. Forbes Advisor, June 2024.
4. Google/Greenberg Survey, March 2018.
5. The State of Personalization 2021, Twilio/Segment.
6. 2018 Personalization Pulse Check, Accenture.
7. The State of Personalization 2021, Twilio/Segment.
8. “A customer-centric approach to marketing in a privacy-first world,” Marc Brodherson, Adam Broitman, Jason Cherok, and Kelsey Robinson, McKinsey, May 20, 2021.
9.  Privacy By Design Report, Google, 2023. 
10.  Privacy By Design Report, Google, 2023. 
11.  Privacy By Design Report, Google, 2023. 
12.  Privacy By Design Report, Google, 2023. 

Data Privacy Programs Improve Operational Efficiency

1. Workgeist Report 2021, Cornell University Idea Lab.
2. “The State of SaaS Sprawl in 2021,” Productiv.
3. “Top Trends in Privacy Driving Your Business Through 2024,” Nader Henein, Bart Willemsen, Bernard Woo, Gartner, May 5, 2022.
4. 2023 EY Law Survey.
5. Dimensions Data and Truyo Survey, May 2020.
6. “A Future that Works: Automation, Employment, and Productivity,” McKinsey Global Institute, January 2017.
7. Cisco 2024 Data Privacy Benchmark Study.
8. Cisco 2024 Data Privacy Benchmark Study.

Privacy Management Identifies and Mitigates Risk

1. 2019 Global Data Risk Report, Varonis Data Lab.
2. 2019 Global Data Risk Report, Varonis Data Lab.
3. IDC/Ermetic Survey, 2021.
4. IDC/Ermetic Survey, 2021.
5. U.S. News and World Report Digital Privacy Survey 2024.
6. Infosecurity magazine, 2023.
7. Infosecurity magazine, 2023.
8. Netskope Cloud and Threat Report, 2024.
9. Cisco 2024 Data Privacy Benchmark Study.
10. U.S. Department of Health and Human Services.
11. “Amazon’s Ring agrees to pay $5.8 million to settle FTC spying suit,” Makena Kelly, The Verge, May 31, 2023.
12. Looking Ahead: Cyber Liability Insurance Concerns in 2024, Woodruff Sawyer, January 2024.