4 Reasons You Need A Framework For Data Privacy and Protection

Data privacy is a crucial aspect of maintaining a credible reputation for your company. With more businesses undergoing a digital shift in this internet era, it is essential for organizations, especially those operating in the corporate sector, to protect user data as if their life depended on it (no kidding!). While there are multiple ways to do so, it can often be overwhelming to ensure that regulators, employees, clients, and partners are all on the same page regarding your various security measures.

This is where a data protection framework can help keep everything on track! It is a codified collection of rules and best practices used to collect, harmonize, and integrate all relevant organizational compliance needs. A framework is the fundamental conceptual structure that offers guidance with the flexibility to adapt, unlike a standard that strictly dictates the best practice approach.

Now, what are some common privacy frameworks? The NIST Privacy Framework and ISO/IEC 27701:2019, which supplements ISO 27001 for information security with a data protection framework, are two important examples. Using frameworks to manage privacy needs can be a lifesaver.

In this blog, your friendly compliance experts at Akitra have highlighted four reasons you need a framework for data privacy and protection. This article aims to highlight the importance of a privacy and protection system and guide you through the steps to implement one.

4 Reasons Why You Need a Data Protection Framework

1. Frameworks Allow for Quick and Easy Risk and Compliance Management

By using a data protection framework, you can avoid starting from scratch. You can customize it for your specific needs while receiving a clear structure and proven guidance. A framework also serves as an excellent training tool when you’re unsure where to begin. The faster and more efficient the process, the more resources you can dedicate to other projects—whether it’s solving persistent issues, exercising due diligence, or tackling new initiatives.

2. Globally Recognized Frameworks Foster Trust in Case of a Privacy Issue

When a customer’s privacy is violated, both the business and the customer suffer. A reputable and well-recognized data protection framework reduces the likelihood of such incidents. Regulatory authorities are often more supportive of companies actively following a trusted framework, which also helps preserve brand trust and avoid steep fines.

3. Frameworks Adapt to Evolving Privacy Laws

Privacy laws change constantly—sometimes right before they take effect. The CCPA is one example that has seen multiple amendments since its introduction. A data protection framework enables organizations to adapt quickly to these shifts, maintaining compliance without the need for constant reinvention.

4. Frameworks Simplify Mergers and Acquisitions

During mergers or acquisitions, personal data from both companies must be managed carefully. If both organizations are certified to a data protection framework, such as the NIST Privacy Framework or ISO/IEC 27701:2019, the process becomes much smoother. These frameworks scale and adapt to meet new requirements, ensuring compliance during transitions.

Steps to Implement a Data Protection Framework

From a technical perspective, implementing a data protection framework can involve:

Identifying and ranking sensitive data, such as employee Social Security numbers or customer credit card data;
Determining data flows and who has access;
Setting limits on data collection, storage, and sharing;
Securing leadership approval;
De-identifying, anonymizing, and encrypting personal data;
Monitoring flagged data and enforcing governance policies;
Removing customer data in line with legal deadlines; and
Promptly notifying regulators of any breaches involving personal information.

Security, AI Risk Management, and Compliance with Akitra!

In the competitive landscape of SaaS businesses, trust is paramount amidst data breaches and privacy concerns. Akitra addresses this need with its leading AI-powered Compliance Automation platform. Our platform empowers customers to prevent sensitive data disclosure and mitigate risks, meeting the expectations of customers and partners in the rapidly evolving landscape of data security and compliance. Through automated evidence collection and continuous monitoring, paired with customizable policies, Akitra ensures organizations are compliance-ready for various frameworks such as SOC 1, SOC 2, HIPAA, GDPR, PCI DSS, ISO 27001, ISO 27701, ISO 27017, ISO 27018, ISO 9001, ISO 13485, ISO 42001, NIST 800-53, NIST 800-171, NIST AI RMF, FedRAMP, CCPA, CMMC, SOX ITGC, and more such as CIS AWS Foundations Benchmark, Australian ISM and Essential Eight etc. In addition, companies can use Akitra’s Risk Management product for overall risk management using quantitative methodologies such as Factorial Analysis of Information Risks (FAIR) and qualitative methods, including NIST-based for your company, Vulnerability Assessment and Pen Testing services, Third Party Vendor Risk Management, Trust Center, and AI-based Automated Questionnaire Response product to streamline and expedite security questionnaire response processes, delivering huge cost savings. Our compliance and security experts provide customized guidance to navigate the end-to-end compliance process confidently. Last but not least, we have also developed a resource hub called Akitra Academy, which offers easy-to-learn short video courses on security, compliance, and related topics of immense significance for today’s fast-growing companies.

Our solution offers substantial time and cost savings, including discounted audit fees, enabling fast and cost-effective compliance certification. Customers achieve continuous compliance as they grow, becoming certified under multiple frameworks through a single automation platform.

Build customer trust. Choose Akitra TODAY!‍ To book your FREE DEMO, contact us right here.