TrustArc, a firm that specializes in privacy compliance and data protection, has introduced Data Inventory Hub, a service that it says will help firms centralize data inventory and data-flow maps.
The Hub will reduce compliance risks while allowing businesses to understand how and where customer and employee data is used, and where it resides in the corporate ecosystem, TrustArc says.
Compliance is a growing issue, considering GDPR and state laws within the U.S.
"In order to fully assess privacy and compliance risks, companies need to understand how customer and employee data is used and where it resides," states Chris Babel, CEO of TrustArc. "This includes what data is collected, where it is stored, who it is shared with and how long it is retained."
Babel adds: "For a large enterprise, a data inventory can entail hundreds to thousands of websites, systems and vendors, which creates a complex and overwhelming task to manage."
According to TrustArc, The Data Inventory Hub provides these features:
The service can integrate with other IT systems, including data discovery solutions, the company adds.