Data Inventory and Mapping to Operationalize Global Compliance and Risk Management

Webinar Summary: On-Demand Session

For most Legal Leaders, the biggest challenges they face all have one thing in common: how to defensibly manage their organisation’s data.

A comprehensive data management strategy is required to effectively manage data in accordance with rapidly evolving regulatory requirements due to the risk of litigation, fines, and a ballooning legal spend.

From Exterro’s recent 2020 Corporate Legal Leaders Survey, nearly half of respondents say they have a high or very high level of concern regarding how their organisation manages its data. And although only about 1-in-5 say that their organisation has a plan for managing its data in relation to Privacy, Legal, Compliance, and Cybersecurity issues, 99% of respondents acknowledged the importance of having such a policy in place.

7-in-10 Legal Leaders also acknowledged that they don’t have a data minimisation / defensible deletion program in place at their organisation. Organisations that are storing too much data—in particular, those governed by regulations like the CCPA or GDPR— and don’t have or regularly enforce retention policies, are sitting on a timebomb that could blow via a data breach or litigation. Either proposition could be a far more expensive outcome than the time and effort required to establish defensible deletion processes.