Despite its global applicability, the recent CGOC Top Corporate Data Protection Challenges survey found only 6 percent of organizations felt ready for GDPR compliance. No wonder the UK government recently issued a warning about the lack of GDPR-readiness.
This surprising circumstance indicates that too many organizations simply don’t prioritize compliance, which is unfortunate because the same processes that support compliance also improve business efficiency and competitiveness as well as litigation readiness. Today’s enterprises must work with ever greater amounts of data in a greater variety of formats from an increasing range of sources. To use this data for business analytics that can explain the past, predict the future and satisfy today’s complex data protection and privacy regulations, these organizations must first create a Unified Governance framework. Such a framework will enable them to better understand the value and location of data, improve its quality, comply with regulations – including the GDPR – and mitigate risks.
CGOC surveyed 132 compliance officers from organizations around the world and across multiple industries. The research shows only 6 percent of respondents feel their organizations are currently compliant with the upcoming regulation, and most organizations are concerned about the inability to demonstrate compliance and revealing their poor data disposal practices.
How does your company stack up? Download the GDPR Readiness Guide to find out:
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