The Business Case for Privacy & Privacy ROI

We know you need to check the business case for any new solution in the best of times, but it’s critical now, with economies racing ahead – your organisation may well need a healthy kick up the GDPRse so it can keep up with the pace!

So we’ve collated tons of useful material here for your business case, and you can download our ROI Calculator below.

Clear ROI on Privacy Spend

Luckily Cisco’s done the heavy lifting for you!  And the results have been very constant in their excellent Data Privacy Benchmark Studies from 2021, 2022 and 2023. Here are the stats from 2023, showing 83% get their investment back or more, 36% get 2X or more, and 12% get more than 3X ROI on their Privacy investment. 6% even get 5X or more:

Cisco’s studies are a great place to start on the headings and statistics for your business case (and their previous studies in 2019 and 2020 are well worth reading too).

Clear Business Benefits

Cisco also clearly sets out where this ROI comes from. and the benefits to businesses from investing in Privacy. Continuing the theme from their 2021 and 2022 studies, the 2023 study showed that over 70% of respondents enjoyed ‘significant or very significant benefits’ from their Privacy spend in these 6 key areas (this figure is up from the mid-sixties the year before):

These are all areas where your business should be wanting to get ahead – not get left behind.

Agility & Innovation can surprise many, but it comes through in many surveys and we hear it ourselves in the market. As part of your GDPR project and ongoing compliance, you’ll have a renewed view on your IT and data estates, making them more efficient and visible.

Board, Auditor & Stakeholder Reporting

Keepabl’s Privacy Management SaaS gives you instant KPIs and Reports for the Board and other stakeholders. For example, our Red-Amber-Green Readiness Scores are hugely popular, as is being able to get your Article 30s with just a click – not 2 days with customer support! And we’ve got gap analysis, risk scores, DPIA reporting, breach reporting and more. All online or downloadable, whenever and however you want, so you can do your own further analysis.

This is super important, and a key reason for buying Privacy SaaS. Unsurprising, as Cisco confirms that respondents reporting at least 1 Privacy metric to the Board has gone up yet again, to a whopping 98%.

This is a regular task that cries out for automation and is covered in our Dashboard on a single pane of glass.

Now, depending on who you listen to, there are any number of reasons that someone buys a solution or service, and any number of reasons better Privacy compliance helps your top and bottom lines.

Let’s boil it down to the 3 key headlines.

Increasing Revenue

Salesforce.com’s Connected Customer Report states 73% say trust matters more than it did a year before.

Keepabl makes it easy to earn that trust by demonstrating your GDPR compliance status with instant GDPR KPIs and Reports, and tailored access control. Give prospects confidence in how you’ll handle their data – it all helps convert the sale.

‘We used the instant reports and tailored access rights to demonstrate our compliance not only to internal stakeholders and third parties, but to prospects and customers to help close deals‘

Award-winning Fintech

Reducing Costs

Keepabl speeds up your GDPR compliance, automating so much of the ongoing process. Don’t just take our word for it, hear from our customers how Keepabl’s super-intuitive SaaS solution helps you manage multiple entities, save time, cost and stress and optimise your GDPR compliance and from a consultant who believes we save his clients between 50% and 70% on ongoing compliance.

‘We can give stakeholders tailored access, and we can work more efficiently with our external advisers. All this saves me lots of time – and stress!‘

VC Fund

‘Their holistic solution really accelerates compliance activities and I believe will save my clients 50-70% of their ongoing Privacy compliance over the next 3 years‘

UK Consultant

Reducing Risk

Accenture’s 2020 Privacy Study noted that 70% ‘say privacy is a key material risk for their financial firms’.

Keepabl makes managing risk and breach super transparent and simple.  Get started with a Risk Map and online Breach Solution within minutes!

‘It makes ongoing compliance and reporting easier, and its breach and risk modules are really excellent’

Listed Wealth Manager

Keepabl’s ROI Calculator

As you saw above, our own customers’ testimonials give you proof of the benefits of using Keepabl and Cisco sets out the key benefits from Privacy spend which you can use in your business case. Some are more quantifiable than others but all should figure in your calculations.

We’ve set out some more tangible benefits and returns in our ROI Calculator, which people have found useful. Feel free to use all or part of it. And there’s more great supporting material on our website including our Service Description.

Experience Great Privacy Yourself!

See for yourself why our customers get such great benefits from automating privacy Governance with Keepabl, and why we’ve won so many innovation awards.

Book your demo today!