Privacy Risk Assessment

Highlights

Completing your Privacy Risk Assessment (PRA) is fantastic for evaluating your internal procedures along a journey to improve your business privacy, de-risking your business from falling victim to PII-infused spear phishing or social engineering. And when your customers add you to their Vendor Risk Management platform, they can track your PRA completion status (often a procurement checkbox), and request to view more details if you consent.

• Demonstrate trust to those who are evaluating your risk - Easily and quickly comply with Vendor Risk Management requests from external procurement departments who are evaluating your business for the privacy risk to their 3rd party vendor supply chain.
• Complete once, apply everywhere - Once your business completes it's annual PRA, it will automatically check all requirement boxes across any customers who leverage Privacy Bee's popular Vendor Risk Management platform. Handle it after the first request, then breeze through additional procurements all year.
• 100% free, with no strings attached - Privacy Bee is on a mission to improve business privacy, so we invest in maintaining our Annual PRA framework at no cost to you, in collaboration with our broad advisory panel. As such, Privacy Bee's PRA is the #1 privacy audit framework in the world for evaluating how a business manages their External Data Privacy.

Description

The 2023 edition of Privacy Bee's Privacy Risk Assessment (PRA) is roughly 75 questions and takes about an hour to complete. It explores how customer and employee data is managed by your organization, illuminating any opportunities for improvement, unmitigated risk, or insufficient GRC. Once completed, the answers may impact your business's Privacy Risk Score, as maintained by Privacy Bee. Completing your PRA is frequently required by customers who track your business in their Vendor Risk Management system.

Your PRA is tied to your company, and not to any 3rd party or customer. This means once you complete your PRA, any other customers all year will be able see your active status, and optionally request to see detailed answers (for trusted relationships), which you fully control. You may even proactively offer that you've completed your annual Privacy Risk Assessment when responding to RFQs or RFPs, similarly to how you would declare certifications like SOC 2 or ISO 27001.

The Privacy Risk Assessment is usually completed by your CIO, CISO, or whomever manages Information Security within your organization. If you need any support on how to answer certain questions, one of our business privacy consultants would be happy to provide limited insight and guidance at no cost. We're here to help!