The correct answer is 'Revise the data protection policies to incorporate the new encryption standards and procedures.' When changes are made to the security posture of an organization, such as upgrading encryption software, it is critical to update the relevant policies and procedural documents. This ensures that all employees and stakeholders are aware of the new methods used to secure data and understand their roles and responsibilities in maintaining the security posture. Updating the policies also helps with compliance and audit readiness. Although 'Re-training employees on the new software' and 'Conducting a new risk assessment' are valuable actions, these do not prioritize the immediate need to document the change, which is essential for ongoing security management. 'Redesigning access permissions' is important but not directly related to updating encryption software.