GDPR Compliance: The Clock is Ticking
With the GDPR deadline rapidly approaching (May 25th to be exact), a new Compliance Report shows that only 40% of organizations have met compliance requirements or are on their way to becoming so by the deadline.
This means that there is still a huge number of businesses that need to wake up to their new obligations, or they will be at risk of fines that could be as high as 4% of revenues.
According to the report, which is based on an online survey of IT, cybersecurity, and compliance professionals in the 400,000-member Information Security Community on LinkedIn, 25% of organizations do not know the rules very well or at all.
Highlights from the Report:
60% of organizations are at risk of missing the deadline, only 7% are in full compliance, and 33% say they are well on their way.
80% say that GDPR is a top priority for their company, but only half say they are knowledgeable or are experts in the rules.
1/3 of companies say they will need to make considerable changes to their data security practices and systems in order to achieve compliance.
71% say that their initial initiative for meeting the GDPR compliance is to make an inventory of users data and map it to protected GDPR categories. This initiative is followed by evaluating, developing, and integrating solutions.
The main challenges in becoming GDPR compliance:
- 43% have a lack of experts
- 40% have a lack of a budget
- 31% have a limited understanding of the law
How to Achieve GDPR Compliance
It can be pretty hard to learn everything about the GDPR and achieve compliance, so we’ve done the research for you. A couple of our resources include:
A good cIAM solution, however, can help you meet all the GDPR compliance requirements, as well as help improve your customer experience, eliminate data silos and create unified profiles, and leverage customer insights to improve your sales. To learn how we can help you comply with this regulation, visit our GDPR page.