Adherence to the GDPR is not optional! But according to a recent survey of senior business leaders compiled by Citrix, 1 in 5 large UK businesses are completely in the dark when it comes to the application of the GDPR in their organisation.
Most business leaders will be aware of the basics – that among other expectations the GDPR requires them to have a detailed view of what and where their data is, and be able to rapidly respond to requests from consumers wanting to know what they hold on them.
But for many business leaders the process they will have to go through within their business to ensure compliance as of 25th May 2018 is at best a complex and daunting task.
The benchmark of quality
Despite its regulatory impact, the GDPR should also be viewed by all businesses as a benchmark of quality. In a competitive market place where customer loyalty and retention is key, organisations that demonstrate compliance with the GDPR are more likely to maintain the trust, respect and loyalty of their customers. A research study from Experian found that 72% of organisations had evidenced data quality issues as affecting customer trust and perception.
This highlights more than ever that the GDPR is an organisation wide challenge and will impact functions across businesses, many of which include customer facing engagements; marketing, advertising and digital transactions. That said; senior management support is fundamental to organisations successfully transitioning from compliance with the Data Protection Act (DPA) to the GDPR.
The information’s out there in droves
The latest google statistics show that each month 74,000 searches are made on the GDPR; the information is out there, there is an abundance of support available to help organisations prepare for compliance, this then begs the question why, when there is so much at risk, are 25% of organisations admittedly unprepared for or, unaware of the changes the regulation will bring?
Clearly, for some organisations, there is a lot of work to do and businesses need to take action now.