According to a recent study from online IT community Spiceworks, only 36% of EU-based IT professionals claim that they are “extremely informed” about the GDPR and its impact on business.
Although it is widely agreed that there is a need for greater privacy of personal data among European-based IT professionals, with 59% of IT professionals in Europe saying they are in favour of the GDPR there is a need for a better understanding of how the new Regulation will affect business. Only 2% of all businesses surveyed claimed to be fully prepared for the GDPR. In contrast, 14% of the businesses surveyed don’t have any plans to prepare for the GDPR.
Many organisations harbour concerns about the Regulation. The main concern with respondents was that the steps to comply with the GDPR still remain unclear. Other notable concerns were that their management did not understand the impact of the GDPR, complying with the GDPR will make their jobs more difficult, and concerns about the fines that come with breaching the Regulation. 11% of respondents are concerned that complying with the Regulation will require a large sum of money. 42% of EU respondents stated that preparing for the GDPR is not a priority of the organisation.
Every organisation that processes EU residents’ personal data must be able to demonstrate its compliance with the General Data Protection Regulation (GDPR) by 25 May 2018. Failure to do so could bring fines of up to 4% of annual global turnover or €20 million – whichever is greater.
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Organisations should not underestimate the length of time it will take to dismantle, recreate, adjust and amend your current data protection system.
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