Over the recent past, privacy has emerged as one of the fundamentals of handling organizational data that are considered sensitive, relevant to compliance, and most importantly to the stakeholders.
Given the ever-changing dynamics of the laws governing data privacy across the world like the General Data Protection Regulation (GDPR), the California Consumer Privacy Act (CCPA), and the Health Insurance Portability and Accountability Act (HIPAA) the business world is forced to seek effective ways of implementing data privacy solutions.
Good privacy management tool not only helps with compliance processes but also strengthens the overall protection of information, which is why it should be considered one of the key tools in present-day business.
In this article, you will learn about the 10 best privacy management software tools to help you make the right purchase for your business.
What Is Privacy Management Software?
Privacy management software is a complex tool aimed at automating the complicated processes of sharing and protecting personal information and compliance with data privacy regulations. These tools aid organizations with significant duties like data identification, consent management, data categorization, and varying forms of assessments, including the privacy impact assessment.
Due to its enhanced capability to effectively monitor and coordinate the various tasks that are related to the privacy function of a business, the best privacy management software reduces organizational risks and improves organizational performance while increasing customer trust.
Key Features of Best Privacy Management Software
- Regulatory Compliance: Protects against failure to meet privacy laws such as GDPR, CCPA, HIPAA, and others, that could lead to fines and corrupt organizational images.
- Data Discovery and Classification: Facilities identification of assets and their classification thus compliance with the legal requirements on the handling of information.
- Consent Management: Records consent of users for collection, processing and storage of data privy to agreed needs with documentation for monitoring purposes.
- Automation: Reduces the time that is required to handle DSARs, changes the privacy policy, or conduct data audits among other tasks.
- Real-Time Reporting: Analyzes the state of privacy initiatives enabling an organization to understand the strengths, weaknesses, opportunities, or threats in the environment.
Benefits of Privacy Management Software
- Improved Compliance: When organizations automate their compliance processes they minimize the chances of running foul of the law and the resultant penalties and legal cases.
- Enhanced Security: Privacy management tools enhance Data security; they prevent data leakage and comply with the established security measures in data protection.
- Operational Efficiency: In other words, the use of privacy-related templates helps reduce paperwork, meaning that teams can spend more time on value-added activities.
- Risk Mitigation: They assist in reviewing defects that can be seen in the information processes of organizations to prevent various risks from arising.
- Customer Trust: Organizational transparency and compliance create trust among the customers hence improving brands’s image.
- Scalability: Since there is constant expansion of businesses, managing software can cope with scaling up and with the flow of more data and demands from the authorities.
- Cost Savings: Some privacy tasks are best automated to minimize the degree to which manual efforts are required, thus decreasing operational costs.
Quick Comparison Table
Top 10 Best Privacy Management Software Tools
1. Velotix​
- Ideal For: Organizations and big companies that deal with confidential information
- Rating: 4.8/5
Velotix therefore remains one of the few companies that developed an AI privacy solution that is fully automated yet still flexible and easy to control. It offers the necessary resources to companies for their identification of and compliance with highly confidential information specific to industry and international legislation.
Specifically, the real-time data discovery and classification functionality helps ease privacy work since the application enforces policies and manages controls.
Key Features:
- AI-driven Policy Automation
- Real-Time Data Discovery and Classification
- Inventory Advanced Access Control Management
Pros:
- Powerful AI Integration
- Intuitive User Interface
- They need to meet a set of compliance requirements that will ensure comprehensive compliance coverage.
Cons:
- Premium Pricing
- Complex Initial Setup
- Steep Learning Curve
Pricing:
- Custom enterprise pricing
Website:
- www.velotix.com
2. TrustArc
- Ideal For: Large multinational companies demanding an overall compliance solution
- Rating: 4.7/5
TrustArc is one of the Best Privacy management software that is fully equipped to meet all necessary legal requirements and minimize risk. It has privacy assessment tools, organizational efficiencies, and privacy management, along with AI-driven automated processes and regulator notifications as well as intelligence from around the world.
Businesses need tools for managing complex data environments and stemming with ever-changing privacy regulations which are all supported by the platform’s capabilities. Refining the levels of compliance coverage offered, TrustArc promotes the usage of the platform segments for privacy certifications, policy, and data mapping.
Key Features:
- Privacy Risk Assessment
- Management solutions to automate different compliance workflows
- In its most basic sense, global regulatory intelligence involves the collection, interpretation, and dissemination of legislative data from around the world.
Pros:
- Broad Compliance Provisions
- Excellent Documentation
- Strong Customer Support
Cons:
- Higher Price Point
- Complex Implementation
- Limited Customization Options
Pricing:
- Free trial
- Custom quote-based pricing
Website:
- www.trustArc.com
3. BigID
- Ideal For: Having a vast and complex data landscape is becoming a reality for many organizations.
- Rating: 4.6/5
BigID harnesses Artificial intelligence to provide users with sophisticated tools for data discovery as well as data privacy features. Even when an organization has a huge and diverse data landscape, its powerful ML algorithms help to discover it and classify it correctly.
The software offers the best features in mapping data, identity intelligence, and risk analysis to offer better support for privacy management. Integration: BigID has massive compatibility with other platforms and applications as it integrates with other systems and tools.
Key Features:
- ML-powered Data Discovery
- Identity Intelligence
- Automated Data Mapping
Pros:
- Advanced ML Capabilities
- Extensive Integration Options
- Powerful Data Discovery
Cons:
- Resource Intensive
- Requires Technical Expertise
Pricing:
- Custom enterprise pricing
Website:
- www.bigid.com
4. OneTrust
- Ideal For: Those organizations that want to deploy AI to manage privacy have several options.
- Rating: 4.7/5
OneTrust has a solution that covers all the matters relating to privacy and provides solutions for more than one regulation in different countries. It has cookie consent management, integrated data mapping, and integrated privacy impact assessments which establish it as a solution for medium and big companies.
OneTrust offers a high level of possibilities for customization to meet business requirements, as well as providing advanced integration options to facilitate the implementation of the solution. One of the aspects of the platform is also constantly evolving to adapt to changes that exist in terms of regulation.
Key Features:
- Cookie Consent Management
- Data Mapping Automation
- Privacy Impact Assessments
Pros:
- Comprehensive Feature Set
- The firm must have a high level of integration capabilities.
- Regular Updates
Cons:
- Complex Interface
- Lengthy Implementation
- High Cost
Pricing:
- Custom quote-based pricing
Website:
- www.Onetrust.com
5. Securiti.ai
- Ideal For: Those organizations that want to deploy AI to manage privacy have several options.
- Rating: 4.5/5
Within the software, privacy management is accomplished together with other data governance processes. As an outcome, utilizing AI enables functions of privacy operation and provides information instantly. DSARs are made manageable, and they also offer a singular view of data.
Compliance activities are easy to track through the detailed dashboard for business use. The new software solution has almost unlimited scalability and is integrated into AI on a significant level, but it is expensive and can be confusing for some users.
Key Features:
- AI-powered Privacy Automation
- Unified Data Intelligence
- Automated DSAR Management
Pros:
- Strong AI Integration
- Comprehensive Dashboard
- Scalable Solution
Cons:
- Premium Pricing
- Complex Setup Process
- Limited Customization
Pricing:
- Custom enterprise pricing
Website:
- www.Securiti.ai
6. IBM Security Guardium
- Ideal For: It may be important for large businesses with multiple security demands.
- Rating: 4.6/5
The IBM Security Guardium offers methods of enterprise privacy protection with integrated security capabilities. The solution offers probably the best real-time data monitoring, sophisticated threat detection as well as compliance controls and thus is most effective as a solution for large organizations.
Since the managing of compliance is largely dependent on records keeping the platform has impressive analytics which make it easy to report on the compliance activities.
Key Features:
- Real-time Infrastructure Data Monitoring
- Advanced Threat Detection
- Automated Compliance Controls
Pros:
- Enterprise-grade Security
- Robust Analytics
- Comprehensive Support
Cons:
- High Cost
- Complex Implementation
- Requires Technical Expertise
Pricing:
- Custom quote-based pricing
Website:
- www.Ibm.com
7. DataGrail
- Ideal For: Small to medium enterprises interested in automatic privacy solutions
- Rating: 4.4/5
DataGrail specializes in making privacy work more efficient through software solutions and specifically shines with DSAR processing. It has a friendly user interface, and it is not time-consuming in the implementation process, and therefore favorable for mid-size organizations.
DataGrail brings live data mapping, along with a secure integration center that guarantees constant adhesion to new-emerging privacy laws.
Key Features:
- Automated DSAR Processing
- Live Data Mapping
- Integration Hub
Pros:
- User-friendly Interface
- Quick Implementation
- Strong Integration Support
Cons:
- Limited Advanced Features
- Basic Reporting
- Limited Customization
Pricing:
- Custom pricing based on requirements
Website:
- www.Datagrail.com
8. Collibra
- Ideal For: The organizations involved in data governance and data privacy
- Rating: 4.5/5
Collibra’s solutions merge data governance with privacy enabling the organization to provide a quality data catalog and privacy solution. It stands out because of its Privacy policy management and Automated data lineage tracking, it can provide the evidence needed for Data governance hence it is recommendable for organizations having a keen interest in Data governance.
Collibra has a highly overloaded and rather complex user interface, which will be a problem for several users facing issues with the adoption and assimilation of its functionalities.
Key Features:
- Data Governance Integration
- Privacy Policy Management
- Automated Data Lineage
Pros:
- Strong Data Governance
- Extensive Integration Options
- Scalable Platform
Cons:
- Complex Interface
- Steep Learning Curve
- Higher Cost
Pricing:
- Custom enterprise pricing
Website:
- www.Colibra.com
9. AvePoint
- Ideal For: Microsoft ecosystem is deeply invested in organizations
- Rating: 4.3/5
AvePoint focuses solely on privacy in Microsoft environments and offers strong solutions to adhere to compliance in cloud systems. It can be easily integrated with Microsoft 365 and for that reason, it is favored most by organizations that are within this ecosystem.
AvePoint cuts down the individual privacy operations hurdles and offers automated risk assessment and the ultimate compliance manager.
Key Features:
- Microsoft 365 Integration
- Automated Risk Assessment
- Compliance Manager
Pros:
- Strong Microsoft Integration
- Easy Implementation
- Good Value
Cons:
- Limited Platform Support
- Basic Reporting
- Limited Customization
Pricing:
- Custom quote-based pricing
Website:
- www.Avepoint.com
10. Ketch
- Ideal For: Companies who want off-the-shelf compliance solutions can extend to support their unique requirements.
- Rating: 4.4/5
Ketch is a cloud-based cookie consent and legal transparency solution purpose-built for improving compliance processes at companies. It offers three plans: There are three primary packages Free, Essential, and Business that target start businesses, SMEs, and large businesses or enterprises with higher privacy or compliance requirements Free edition comes with the cookie consent system and just general banner consent suitable for small sites or businesses.
Key Features:
- Cookie Consent Management
- DSAR Management
- Data discovery & classification
Pros:
- A basic cookie banner setup for free
- Organizations seeking higher plans of automated DSAR management
- Strong customer support
Cons:
- New system reporting glitches here and there
- It means that risk assessment of the data of the vendor is also missing in the given model.
- Lack of price transparency
Pricing:
- Free edition available
- Starter: $150/Month
- Plus: $333/Month
- Pro: Custom Pricing
Website:
- www.Ketch.com
Best Practices for Privacy Management Software
- Maintenance and updates: Make sure your software for managing privacy is up to date relative to regulation changes and is patched up. It makes easy the management of privacy and hence the need to update these policies frequently.
- Employee Training and Awareness: Provide general user training programs to educate setupers on how to use privacy programs and the appropriate privacy practices.
- Data Minimization: Review your collection and storage of personal data and reduce the amount of it periodically with the help of your privacy management software to find out what data should be removed as unnecessary.
- Regular Audits: Another tip is to perform periodic reviews of your privacy management systems – it will help you to check whether the systems are operating to the optimal, as well as to comply with the required regulations.
- Integration Planning: Ensure that you have a good integration strategy to allow the integration to flow and have privacy obligations in a similar manner in the organization.
- Documentation and Policy Management: Personal privacy policies and documenting them should be kept and updated from time to time using the best privacy management software tools.
Conclusion
It is extremely necessary to choose the right Best Privacy Management Software for requirements as it is very important to safeguard the data with proper compliance. It means that organizations need to analyze their particular needs and the solution must fit the organizations’ privacy policies and their functioning strategies.
The Management Software tools highlighted in this guide provide different angles to privacy management from the combination of AI and automation or consulting. When such tools are used correctly and in compliance with best practices, organizations can develop sound privacy programs that support data protection as well as business continuity.
FAQs
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1. What is the average price of the best Privacy Management Software?
Founded pricing depends on the size and demand of the organization, some of the plans can cost from $10,000 up to $100,000+ per year for the enterprise-level solution.
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2. Now the question arises how long does it take to implement Privacy Management Software?
This process normally lasts for 2-6 months in most organisations depending on the size and structural complexity of the organisation in question.
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3. Is it possible for Privacy Management Software to ensure GDPR compliance?
Though these tools assist in maintaining compliance they cannot ensure it. Organizations must still guarantee correct settings and implementation.
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4. When does an organization need the best Privacy Management Software?
All companies dealing with personal data should consider using anonymity management software, but companies with 50 or more employees or those dealing with especially sensitive data should consider it most of all.
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5. When is the best time to update Privacy Management Software?
Frequency is important as a lot of providers release features every quarter but security updates come every month.
