Protecting confidential and private data is essential to building customer trust, and is often required by law such as with Europe’s General Data Protection Requirements (GDPR). Businesses large and small are subject to these regulations, yet the largest, global enterprises face the biggest risks due to the nature and volume of data they possess.
A recurring challenge for many enterprises is consistently ensuring confidential and private data are protected throughout their complex, global supply chains. Some organizations rely on System and Organization Controls (SOC) reports, but these are not always perfect or cost-effective solutions.
Forward-thinking enterprises are implementing SSPA programs to ensure suppliers are following standardized data protection requirements. The SSPA framework:
- Asesses risk levels based on set criteria
- Requires certain controls and processes be in place based on the assessed level of risk
- Help ensure the protection of confidential and private data to which suppliers have been entrusted
Often, these programs include independent verification of compliance by a qualified firm.
Compliance with SSPA programs can be essential for suppliers to remain in good standing with important customers. However, many companies have never been through a control assessment and the prospect can be daunting. Many companies are initially confused by the requirements and are worried that the process will be expensive and time-consuming. Fortunately, with an experienced partner like SC&H, the process can be manageable and cost-effective.
If you have a customer requiring your compliance with an SSPA, we hope you’ll contact us so we can talk about your situation and chart a path to compliance.
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