Feroot Platform Helps Turn GDPR Compliance into a Competitive Advantage
TORONTO (PRWEB) May 24, 2018 -- In anticipation of the EU’s General Data Protection Regulation (GDPR) going live on May 25, 2018, Feroot is excited to announce its Privacy Management Platform for Enterprises and SaaS Vendors. The Feroot Privacy Management platform provides global enterprises and SaaS software companies the easiest way to comply with complex data privacy regulations, such as GDPR. In addition to the launch of its Privacy Management Platform, Feroot has closed its first advisory round of venture funding from prominent investors.
“I’m very pleased to announce two important milestones for our company. Our Privacy Management Platform gives companies an automated and easy way to manage privacy requirements, while ensuring that consumers can manage all subject rights requests, including consent, in a single web-based interface,” said Ivan Tsarynny, co-founder and CEO of Feroot. “With funding from many of the industry’s top investors, we can accelerate market awareness and expand our ability to deliver our product to customers who desperately need the automated and continuous privacy management platform we’ve worked hard to develop.”
Feroot’s Privacy Management Platform provides customers a way to automatically manage consent and data subject requests required by GDPR Articles 7 and 12-23. In addition, Feroot APIs integrate applications and third-party vendors to solve other challenges like passing data-use restrictions downstream to all enterprise applications, whether those applications are internally developed or provided by third parties.
The Feroot Privacy Management Platform is designed for large companies in sectors, such as financial services, whose enterprise systems increasingly combine applications and infrastructure developed in-house and by third-party vendors. One important challenge for modern companies is managing privacy and data-use requirements imposed by regulations, such as the EU’s GDPR and Canada’s PIPEDA (Personal Information Protection and Electronic Documents Act). These regulations are complex, include extremely large fines for non-compliance, and impact companies, regardless of their domicile, as long as they touch user data in the region covered by the regulations.
“Ultimately, customers prefer to do business with companies that they trust. By using Feroot, global organizations and SaaS vendors show customers that they respect their data rights and provide data subjects an easy and accessible way to manage the use of their private information,” said CEO Tsarynny. “Privacy regulation has always been considered a barrier to doing business. Feroot changes the landscape by transforming privacy into a competitive advantage.”
About Feroot:
Feroot is a Toronto, Canada-based company that has built a comprehensive privacy rights management platform that helps enterprises and SaaS software vendors painlessly comply with data privacy regulations, such as GDPR. The Feroot Privacy Management platform predicts risks and mitigates penalties by facilitating fulfillment of privacy rights and passing data-use restrictions downstream to enterprise systems and third-party applications. http://www.feroot.com
Ivan Tsarynny, Feroot, http://www.feroot.com, +1 415-301-2099, [email protected]
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