Summary: Over 80% of EU business classify themselves as not being ready for GDPR, now its law what are they doing to become ready and compliant? This blog is taken from our recent GDPR video discussion series where Ground Lab’s Global Sales Leader, John Cassidy talks about the implications of GDPR and what he thinks companies need to do now. Watch the Youtube video here.
Is EU business ready for GDPR?
The views in the industry are that 80% of businesses were not ready for GDPR. Either not prepared or took the opinion that they would wait and see how the market and their competitors reacted to it. This could be seen as a risky strategy when you have multiple stakeholders who are concerned about the reputation or on-going well being of the business. Businesses have had 2 years to prepare for it. They have had no excuses for not being ready in time.
Is it too late to start your GDPR compliance journey?
Its never too late to start your compliance journey. In the event of a cyber instance or data breach, the regulator will audit you looking for an explanation from your DPO as to how it happened and the steps that were taken to comply. Doing nothing is not something your customers or stakeholders want to hear. So its never too late to start your process and every company has to start somewhere, but the overriding message from industry experts as well as Ground Labs is to start doing something as soon as possible.
“Its never too late to start”
How can companies ensure they are GDPR complaint?
No longer is it acceptable to run yearly audits for compliance. Businesses need to start looking at the ever-present threat of cybercrime and how it impacts the business. Processes and procedures have to be put in place to educate and create awareness of GDPR. An important factor is this is to enable the ongoing monitoring of the sensitive data to understand what you have and where it is. Ground Labs feels we are part of the solution.
Watch the Youtube video here.