With a predicted recession looming as we start 2023, companies and employees alike are feeling pains as they face budget cuts and layoffs. And with smaller budgets comes increased scrutiny on cost-center teams not traditionally associated with driving revenue - like the privacy team. But data privacy compliance remains important as new regulations come into enforcement while regulators tighten their grasp on leveraging fines and customers continue to demand more respect and trust from the businesses they buy from. You will learn about: - Why privacy software will emerge as a competitive advantage for businesses - The evolution of privacy roles and its impact on the cost of privacy teams - How to get your organization prepared to handle privacy with fewer privacy team members

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© 2023 TrustArc Inc. Proprietary and Confidential Information.
The Cost of Privacy Teams:
What Your Business Needs To Know

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Speakers
Andrew Scott
Privacy Counsel
TrustArc
Gary Edwards
Executive Advisor,
Golfdale Consulting

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Agenda
● Prioritizing privacy is a competitive advantage for businesses
● Where privacy sits within an organization and its impact on the cost of
building privacy teams
● How to get your organization prepared to handle privacy with fewer
privacy team members
● With fewer resources, Privacy Tech can help teams overcome more
challenges
● Q&A

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Let’s Start With a Poll

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Privacy Importance

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Privacy Importance (a Closer Look)

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Prioritizing Privacy Technology is a Competitive
Advantage for Businesses

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Privacy as a Key Differentiator

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● Employee
retention and
attraction
(Risk)
Re-Thinking the How and the Why to Prioritize Privacy
● Compliance
cannot be seen as
the end game
● Privacy
compliance is
not a zero-sum
game
● Businesses
need privacy
to stay
resilient in
the market
(Org. Risk)
● Privacy can
accelerate
innovation
(Business
Strategy) ● Leveraging
frameworks to
enter new
markets (Org
Risk/ Bus.
Strategy)
● Privacy can be a
values-
motivated
differentiator
for B2B/B2C
(Trust)

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Using Privacy Technology to Your Advantage
● Compliance requires technology (e.g., Global Privacy Control)
● Create resiliency (e.g., efficiency for Risk Assessments and Inventories)
● Accelerate innovation (e.g., Privacy Enhancing Technologies)
● Enter new markets at scale (e.g., TrustArc’s PrivacyCentral)
● A values-motivated differentiator (e.g., certifications, privacy notices)
● Employee satisfaction/retention (e.g., vendor management tools)
● Not Zero Sum (e.g., a responsible and ethical strategy)

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Where Privacy Sits Within an Organization and its Impact
on the Cost of Building Privacy Teams

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It’s Time for Another Poll

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Where Privacy Sits In an Organization

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Where Privacy Sits In an Organization

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Privacy Reporting Structure

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Considerations of How Privacy Functions
What data do we have from the Benchmarks to support costs?
Size of the team determined by factors
● Size of organization, lines of business/products, understanding budget for
talent, stakeholder buy-in (Risk), privacy tech vendors
Reporting lines affect efficiency (centralized, decentralized, hybrid)
Is privacy part of the team or is it a team?
● Privacy team, program, counsel, or culture?
● Where are the privacy discussions taking place?
● Are employees aware of privacy implications in roles?
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3
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How to get your organization prepared to handle privacy
with fewer privacy team members

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Privacy Team Composition (a closer look)

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Privacy Role Demand

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Privacy Role Demand (a closer look)

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Spend on Privacy

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With Less Resources, Privacy Tech can Help Teams
Overcome More Challenges

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It’s Time to Chat!

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2022 Challenges (Top 3)

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2022 Challenges (Bottom 3)

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Privacy Tech Creates a Competitive Advantage
● Honor and store Customer Consent Preferences
● Automate Data Subject Access Requests
● Automate Risk Assessments
● Automate Vendor Assessments
(facilitate trade relationships)
● Create Data Inventories
● Allow for compliance with GPC
● Evaluate the ability to enter multiple jurisdictions and
harmonize efforts
● Prepare for future compliance efforts
● Provide Government-Backed Certifications to transfer data (Privacy Shield/DPF)
● Engender Trust and build partnerships through validations/certifications
● Perform web crawls and scan for Third Party Trackers
● Facilitate communication linkage, reduce duplicative efforts, and promote efficiency

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Final Poll

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Thank You!
See http://www.trustarc.com/insightseries for
the 2023 Privacy Insight Series and past
webinar recordings.
If you would like to learn more about how TrustArc can support
you with compliance, please reach out to sales@trustarc.com for a
free demo.