OneTrust, the market-defining leader for coordinated trust intelligence, today launched the world’s first Trust Intelligence Platform, establishing a new category of technology dedicated to solving today’s critical business challenges around trust and transparency.
“As massive digital and cultural shifts change the way people choose who to buy from, work for, and invest in, organizations are transforming how they measure success,” said Kabir Barday, Chief Executive Officer of OneTrust. “Trust is the new gold standard for business, and leaders need a way to understand, measure, and manage trust. The Trust Intelligence Platform from OneTrust gives visibility, action, and automation across trust domains providing insights across privacy, risk, ethics, and ESG programs, so companies can build trust initiatives that are transparent and verifiable for their customers.”
Businesses that lose or lack trust often experience substantial financial impact. Recent data from Deloitte found that three $10 billion companies lost between 20 and 56 percent of their value when stakeholder trust was lost. Trusted companies, however, outperform the S&P 500 by 30 to 50 percent.
“Building businesses based on trust, rather than simply compliance, positions leaders in privacy, risk, ethics, and ESG to drive growth and create impact,” continued Barday. “Trust Intelligence empowers these teams to build trust by design, look beyond the silos of their departmental functions, and lead their company’s trust transformation.”
“The IDC Future of Trust framework identifies trust as an output from a strong foundation of risk, security, compliance, ethics and social responsibility, and privacy programs,” said Ryan O’Leary, Research Manager for Privacy and Legal Technology at IDC. “The Trust Intelligence Platform from OneTrust is a bold and unique step towards enabling customers to establish trust from a technology standpoint and builds a platform for companies to build, manage, and demonstrate stakeholder trust.”
Defining the Trust Intelligence Software Category
The Trust Intelligence Platform from OneTrust introduces the first in a new category of software for businesses to start and scale trust initiatives. Trust Intelligence delivers visibility across trust domain areas, action based on AI and regulatory intelligence, and automation to build trust by design as a reflex in organizations. The platform unifies Privacy & Data Governance, GRC & Security Assurance, Ethics & Compliance, and ESG & Sustainability programs where teams, data, and processes can integrate, giving businesses a centralized understanding of business trust.
The OneTrust platform is built on an intelligent engine that integrates global frameworks, standards, and regulations so companies can track compliance with various laws. Benchmarking, insights, and reporting capabilities enable leaders to understand how their program is developing and assess program maturity compared to industry peers. Stakeholder Trust Centers provide a dynamic, engaging, and centralized view into all relevant policies, data, and reports in a way everyone can trust and verify.
Companies can choose to start their journey to building trust with one cloud and build into other trust domains as the program matures. The Trust Intelligence Platform includes:
- The OneTrust Privacy & Data Governance Cloud: People demand greater control of their data, unlocking an opportunity for organizations to use digital interactions to go beyond compliance and build trust through transparency, choice, and control. The OneTrust Privacy & Data Governance Cloud helps companies adopt best-in-class privacy practices, so individuals trust them with their data, allowing them to deliver more valuable experiences and create business value through trust. Trust domains in the Privacy & Data Governance Cloud include Privacy Management, Data Governance, Consent & Preferences, and Data Ethics & Responsible AI.
- The OneTrust GRC & Security Assurance Cloud: The global threat landscape evolves each day, bringing new and unexpected risks to people and organizations. The OneTrust GRC & Security Assurance Cloud helps companies and supply chains stay resilient in the face of continuous cyber threats, global crises, and natural disasters—so organizations can operate with confidence. Trust domains in the GRC & Security Assurance Cloud include Governance & Policy Management, IT Risk & Security Assurance, Third-Party Risk, and Audit & Compliance Management.
- The OneTrust Ethics & Compliance Cloud: The most resilient organizations nurture a culture that fosters ethical behavior where everyone feels empowered to speak up, share their perspectives, ask challenging questions, and raise concerns without fear of retaliation. The OneTrust Ethics & Compliance Cloud fosters and promotes an open and safe environment for employees, maximizing insights into the health of a company’s culture, so leaders can act decisively upon areas of risk. Trust domains in the Ethics & Compliance Cloud include Ethics Program Management, Third-Party Due Diligence, and Speak-Up Culture Assurance.
- The OneTrust ESG & Sustainability Cloud: People want to buy from, work for, and invest in businesses that positively impact people and the planet in ways that everyone can understand and verify. The OneTrust ESG & Sustainability Cloud offers organizations the ability to define core environmental and sustainability metrics, track progress towards those goals, and foster trust with key stakeholders through enhanced transparency. Trust domains in the ESG & Sustainability Cloud include Carbon Accounting, ESG Program Management, and Supplier Sustainability & Responsibility.