Over a year on from the introduction of the General Data Protection Regulation (GDPR), the Capgemini Research Institute has found that companies vastly overestimated their readiness for the new regulation with just 28% having successfully achieved compliance; this is compared to a GDPR readiness survey last year which found that 78% expected to be prepared by the time the regulation came into effect in May 2018. However, organizations are realizing the benefits of being compliant: 81% of those that are say GDPR has had a positive impact on their reputation and brand image.
The “Championing Data Protection and Privacy – a Source of Competitive Advantage in the Digital Century” report finds that companies have responded to new requirements more slowly than they expected, citing barriers including the complexity of regulation requirements, costs of implementation and challenges of legacy infrastructure. Meanwhile, a significant number of organizations are investing heavily in data protection and privacy to ensure compliance with existing regulations, and to lay the foundation for those to come.
