There's no doubt GDPR (General Data Protection Regulation) has become a hot topic in the industry within the past few months. With nine months to go, firms may feel like they have forever to become compliant but with thorough research, planning and implementation to be done, it will soon crop up quickly. And trust me, you don't want to be the one running around last minute whilst your competitors are miles ahead of you. The sooner you start communicating to your clients and prospects, the easier it will be when 25th May 2018 hits.
Exonar, a leading provider of GDPR data mapping and data inventory solutions, has announced the results of it's UK GDPR Preparedness Survey, which found that 77% of respondents are on course to be compliant by May 2018, despite claims in May that 84% of small UK firms are still unaware of GDPR. Maybe the increase of coverage has encouraged people to pick up the pace.
With a mass of articles, webinars and events lately around GDPR, there's hope that people are starting to realise how significant GDPR will be, and that planning needs to start - pronto! Giving yourself time to research a few hours a week, and setting aside time to set strategy for GDPR compliance with key stakeholders in the business are a good place to start. 16% of respondents have said that they have a plan for GDPR compliance, but they haven't started implementing it yet. Which makes you question what the others are doing.
Exonar’s CEO Adrian Barrett commented: “Although the overall results were positive, significant challenges still remain in the form of time, money and understanding over the reach and implications of the new regulation. It’s clear some companies are shackled and their plans aren’t progressing or even formulated. This situation is often worsened by a lack of project leadership and failure to identify responsibility. “Businesses must ensure they fully understand the new regulations and, crucially, understand how, where and why their data is currently being processed. For most, a period of data discovery needs to be undertaken before they can put a plan into action and it needs to be done quickly as time is running out. To that end, new technology such as Big Data and Machine Learning will prove invaluable in speeding up the first steps to secure data handling.”