The inaugural IDC MarketScape: Worldwide Data Privacy Management Software 2021 Vendor Assessment (doc #US46858221, April 2021) is now available. The new report evaluates major vendors participating in the worldwide data privacy management software market whose software “include functionality to help organizations collect, track, demonstrate and manage data subjects’ consent” and toenable “enterprise compliance with data privacy regulations such as CCPA and GDPR.”
Ryan O’Leary, IDC Research Manager, Privacy and Legal Technology and report co-author stated: “Based on the results of IDC’s Data Privacy and Data Protection Survey, December 2020, enterprises are spending over $200,000 a month to comply with data subject access requests (DSARs). That is an untenable amount of spend. Enterprises currently have a broad patchwork of on-premises and cloud-native apps and repositories that contain personally identifiable information (PII). Technology buyers should look to solutions that integrate with both the legacy on-premises applications and the cloud-native applications to automate DSARs and create continuous data maps that accurately enable monitoring of the data privacy risk.”
Data Discovery Pioneer
The IDC MarketScpae study positioned Spirion as a Major Player within the worldwide data privacy management software market and recognized Spirion as a data discovery pioneer. The IDC MarketScape highlighted Spirion’s depth, breadth, and accuracy of data discovery and subject rights management for personal, sensitive, and regulated information residing on-premise and in the cloud.
“Organizations continue to invest in engendering trust to drive their businesses in the digital economy. Data privacy compliance is a major component of trust and preventing adverse compliance enforcement,” said O’Leary. “Privacy is just one side of the story, and organizations should invest in data privacy tools that enable data protection capabilities as well. Data cannot be private if it is not protected.”
The IDC MarketScape assessment recognized Spirion for its ability to “scan and identify not only PII but health-related information,” acknowledging that “many solutions on the market are hyperfocused on social security numbers and credit cards that they neglect the full sphere of personal information that privacy regulation governs.”
The study underscored Spirion’s ability to discover sensitive data with 98% accuracy, noting that “customers interviewed in conjunction with this study also indicated a staggering accuracy rate of helping them remediate sensitive data.” The IDC MarketScape also highlighted that “Spirion stands out in the market due to its experience and the fact that its data discovery products are available in the cloud and on-premises,” adding, “the company’s core capabilities will carry them far.”
Spirion President and CEO Kevin Coppins stated, “We are honored to be positioned as a Major Player in the inaugural IDC MarketScape’s for Worldwide Data Privacy Management and to be acknowledged for our pioneering work within the data discovery market. We are also proud that the IDC MarketScape recognizes the technological strength of our core and expanding Privacy-Grade™ data protection capabilities position us well to meet future customer needs.”
Current Capabilities and Future Strategies
The IDC MarketScape evaluated 11 major vendors on two primary categories: current capabilities and future strategies using both quantitative and qualitative criterion that “define current market demands and expected buyer needs for ediscovery review software.”
The rigorous framework includes “comprehensive criterion expected to be most conducive to success in providing tools to enable data mapping, data flows, data subject access request (DSAR) management, and data privacy impact assessment management and more to support to enterprises both in the short term and long term.” Current capabilities reflect how well vendors can meet customer needs today. Future strategies reflect how well vendors are aligned to meet customer requirements in three to five years.