1Most Companies Won’t Make GDPR Deadline, Putting Customer Trust at Risk
As the European Union’s General Data Protection Regulation (GDPR) deadline approaches on May 25, most companies do not expect to be fully compliant by then, according to a recent survey from IBM. The resulting report, titled “The End of the Beginning,” categorizes companies surveyed as either the “sparked”—those that will be fully compliant with GDPR’s mandates for data protection of EU citizens’ data by the deadline—and the “squeezed,” which are those that are less committed to making the deadline. “Sparked” companies are most likely to view their efforts as an opportunity to transform their data management work and create new business models. An estimated 1,500 global GDPR leaders took part in the research. This slide show presents highlights from the survey, with charts provided courtesy of IBM.
2Few Companies Expect Full Compliance by Deadline
IBM reports that only 36 percent of survey respondents expect their organization to be fully compliant with GDPR by May 25. What’s more, at the time that the survey was conducted between February and April of this year, 18 percent of respondents said their company hadn’t even begun to prepare for GDPR, but they expected to before the deadline.
3Data Accuracy Ranks as Top Priority
4Dedication Diverges in Meeting Requirements
5Public Trust Viewed as Positive Outcome
6High Performers to Expand Their Business Opportunity Window
7GDPRDeadlMore Personalized Customer Experiences in the WorksineRisk_6
8Collaboration Creates Difference-Maker
9Successful Companies Favor Strategic Approach
10Enterprise Thinking Drives Comprehensive Execution
“Sparked” companies are also more likely to consider enterprisewide thinking in approaching GDPR, with 41 percent indicating that they’re taking a holistic approach throughout privacy, processes and security to meet the deadline. Just 34 percent of “squeezed” organizations are doing this.