1 in 5 Digital Trust Executives Lack Confidence in their Organizations' Programs to Protect Data

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Oct 24, 2023, 09:00 ET

NEW YORK, Oct. 24, 2023 /PRNewswire/ -- Of executives involved in their organizations' digital trust programs — which manage data protection, privacy and/or governance — 21% lacked confidence in the effectiveness of those programs during the past 12 months, according to a recent Deloitte poll. But, many say their organizations will increase the time and effort put into their digital trust programs in the year ahead (48.7%).

"It's encouraging to see so many organizations planning to take the necessary steps to strengthen their privacy, data protection, and governance programs," said Tanneasha Gordon, Deloitte Risk & Financial Advisory's data & privacy leader specializing in digital trust and a principal, Deloitte & Touche LLP. "I think many executives are starting to realize that trust is crucial to driving brand value and earning sustained customer loyalty. Privacy programs, data protection safeguards and governance processes are all risk and compliance levers of trust that can build brand equity with consumers, engender confidence with regulators and increase value for shareholders."

Further, while more than half of respondents indicate that their organizations' top leaders work closely on digital trust programs (58.5%), 21.4% say that such leadership coordination is lacking.

"Proactive leadership attention is essential to earn trust and build resilience before crisis strikes." said Kate Graeff, a Deloitte Risk & Financial Advisory vice president focused on enterprise trust, Deloitte & Touche LLP. "Taking seemingly simple steps to improve awareness and training, clarify leadership roles and responsibilities around trust, and routinely assess efficacy of execution can support considerable advancements, helping to drive trust within — and beyond — the enterprise."

About the online poll
Over 590 C-suite and other executives were polled during a recent webcast, titled "How to weave ethics, transparency and trust into your data use," on May 11, 2023. Answer rates differed by question.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 457,000 people worldwide connect for impact at www.deloitte.com.

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SOURCE Deloitte