By ET Bureau - October 11, 2022 4 Mins Read
Exterro, Inc., the industry’s first provider of Legal GRC software, which unifies e-discovery, digital forensics and data privacy to drive successful, defensible outcomes for in-house legal, IT teams, privacy and law enforcement worldwide, today introduced Exterro Smart Data Inventory, a new solution designed to help organisations build, monitor and maintain a defensible privacy program based on a single intelligent and dynamic data inventory across record types, assets, 3rd parties and processing activities.
In order to establish an effective data privacy and governance program, organizations must be able to quickly attain a real-time picture of the data that exists within their internal environment as well as cross-border data transfers. Given the sheer volume of data, many organizations struggle to maintain an accurate and up-to-date inventory which is required to comply with a complex global regulatory environment. Exterro Smart Data Inventory speeds the time to compliance by reducing the time to record processing activities, eliminating redundant questions, automatically detecting high-risk processing by regulation, and integrating data discovery technology.
“A company’s ability to meet their compliance obligations is directly impacted by their ability to understand what information they have, where it lives, how it’s being processed and how long they keep it – whether that’s CPRA, GDPR, PIPL, or any other privacy regulation. Without an intelligent and automated approach to building a comprehensive data inventory, this makes an already difficult and time-consuming process, all the more challenging,” said Ray Pathak, VP of Privacy at Exterro. “The Exterro Smart Data Inventory capability is the industry’s first truly integrated solution to seamlessly bring together deep privacy intelligence, process orchestration, advanced artificial intelligence (AI), and data governance best practices in a single platform to eliminate many of the headaches that come with having to manually build and maintain a data inventory.”
Conducting a comprehensive data inventory is considered to be the first, and most important step in building a defensible privacy and data governance program. It’s also the most time-consuming and costly stage that when done manually, can take months to complete, is rendered inaccurate or already out of date by the time it is completed and can cost several hundreds of thousands of dollars. Some of the key benefits that Exterro Smart Data Inventory provides to customers include:
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