The State of Trust at Incyte

Approaching US Privacy 2023, Consumer Consent, and harnessing trust as a competitive advantage in the biopharmaceutical industry.

Executive Summary

And while check-box compliance is a good place to start, it should by no means be where organizations that operate in the U.S. should aspire. Compliance, and the trust you build as a result, can and will become a competitive advantage for IMS when done right… especially being in the business of enabling other organizations through data for Incyte.

The bottom line is, organizations must treat the challenges and opportunities that U.S. Privacy 2023 brings as a cross-functional initiative – holistically addressing the needs of privacy, marketing, and data teams.

The OneTrust Privacy & Data Governance Cloud helps organizations establish a trusted, valuable exchange of personal data. As a result, customers and employees trust you with their data – allowing you to deliver more privacy-centric, valuable experiences for the State of Trust at Incyte.

In the following pages, we outline what OneTrust has seen as an effective journey to go from compliance, to competitive advantage… a journey that we’d be humbled to be a part of!

Current Global Privacy Landscape

A major challenge for privacy programs is keeping pace with a constantly shifting regulatory landscape, and the US privacy landscape serves as a great example. Today, industry-specific regulations such as HIPPA and GLBA, and state-level regulations govern privacy law, but that’s soon to change. In 2023, the single active US state privacy law, California’s consumer-focused CCPA, will be drastically expanded as 5 new state laws bring more comprehensive requirements into effect. These laws introduce new consumer rights to rectification (CPRA) and right to appeal the results of a request (VACDPA)… updates to the CCPA’s “do not sell” requirement to include data sharing and profiling, and more.

But we understand that compliance within the United States is not enough as Incyte marks their presence globally – with continued expansion and growth on the horizon. OneTrust was born out of the GDPR in Europe, and has become the industry standard for privacy compliance across the globe ever since. At right, you’ll find a number of resources that align to how OneTrust specifically approaches privacy legislation in Europe, Japan, and more.

At a high level, the ideal approach is to build a holistic program that encompasses crossregulation frameworks and best practices, as opposed to focusing on each individual regulation in silos. Adopting this type of strategy helps future-proof the organization as regulations continue to evolve at the state and federal level over the months and years to come.

 

To read full download the whitepaper:

The State of Trust at Incyte

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