Trust Intelligence: value creation driven by trust
What does trust mean to your business? How does she create it? How does it respect its values and measure the effectiveness of its actions?
As new standards and certifications multiply, as consumers feel a need for trust when it comes to making decisions, both B2C and B2B, as they question the protection of their privacy, as global supply chains face geopolitical and environmental risks, the issue of trust remains essential for businesses.
The foundation of trust (or trust intelligence) is based on 4 pillars: data protection and governance, security and risk management (third party and IT), ethics and compliance and the environment. Concretely, it is the ability of a company to measure, create and strengthen trust in its activities, by adopting practices and technologies that promote transparency, accountability and regulatory compliance.
Placing trust at the heart of companies' activities therefore appears to be a differentiation strategy, as a new dynamic is emerging in this direction. The data shows that companies that invest in trust are more resilient, efficient and sustainable, and are also known for their ability to retain their customers.
Trust Intelligence trends in 2023
The year 2023 will be marked by important legislative movements. As regulation continues to be developed, the responsible use of data will become a major condition for business viability.
In addition, compliance with new recognized regulations and standards, such as ISO 27001, will increase consumer confidence. Indeed, third-party validation is a guarantee of transparency and reliability for the company.
With changing regulations, the growing need for data literacy, and compliance programs adapting to industry certifications, organizational agility will represent a competitive advantage.
The rising stakes related to misconduct on the part of some companies is also an additional reason to work on building trust.
Finally, the increasing use of AI raises questions about companies' ethical and responsible practices. Several laws and regulations on AI are being developed, for example by the EU and NIST, or standards and principles studied by the OECD and ISO.
Responsible AI is not an option, but a necessity in today's business landscape. By implementing responsible AI practices, companies can minimize AI risks and build trust with their customers, regulators and society as a whole.
Helping organizations turn trust into a competitive advantage
OneTrust enables organizations to effectively manage risks related to the 4 pillars of trust, thanks to a cloud-based Trust Intelligence platform:
- OneTrust Privacy & Data Governance: helps companies adopt best practices in privacy, data governance, consent and preferences, and the ethical use of AI.
- OneTrust GRC & Security Assurance: Promotes supply chain resilience to ongoing cyber threats, global crises and natural disasters and helps comply with standards while helping to prepare for independent audits.
- OneTrust Ethics & Compliance: it provides information on the health of a company's culture, its ethics, so that managers can act decisively on risk areas (whistleblowers, anti-corruption, conflicts of interest, etc.).
- OneTrust ESG & Sustainability: it offers organisations the opportunity to define environmental and sustainability measures, monitor progress towards these goals and build trust with key stakeholders through increased transparency.
Today, 14,000 customers use OneTrust's platform to put trust at the heart of their business. OneTrust is currently ranked 24th on Forbes Cloud's 100 list of the world's best private cloud companies.
OneTrust: the platform that helps businesses build, measure and unlock the value of OneTrust trust
