GDPR compliant: will companies be ready on time?

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The GDPR compliance is an important challenge

The GDPR compliance is an important challenge for companies and administrations. Many of them will not be ready on time: lack of time, lack of dedicated team, lack of information. According to the Senzing study, published in January 2018, 60% of companies think they will not be ready for the 25th May.

In fact, the GDPR compliance will take a long time and a lot of efforts to get on the right track: an overview of the situation, a management inventory, a new operation way for the data collection, etc. Companies are disadvantaged by the important amount of work and the lack of technologies in this sector. Thus, for more than 24% of companies the GDPR implementation will be a relevant and significant obstacle, because the risk of sanctions is extremely high for them.

The risk of sanctions is shared by all the companies, no matter the size.

On average, a company will get 89 GDPR enquiries per month, for which they will need to search an average of 23 different databases, each taking about 5 minutes. The total time spent finding data for GDPR enquiries per month will be more than 10,300 minutes or 172 hours. This equates to over 8 hours of searching per working day or one employee dedicated solely to GDPR enquiries.

What is the situation for the largest companies ? The amount of work will be heavier for companies with more than 250 employees. In fact, these companies will get more than 246 GDPR requests per month, in 43 different databases. The time spent will be more than 75 500 minutes each month, or 60 hours per working day or 7,5 employees dedicated solely to this treatment.

The GDPR compliance is seen like an extremely challenging task through which a dedicated team and tools will be developed. The first obstacle of an optimal treatment of requests is the fact that the databases are disparate. The inventory of data is another sensitive subject : less than 50% of companies are confident on where their clients databases are housed.

Big companies know that the GDPR compliance is not an easy thing : more than 60% of them are concerned about their compliant capacities. However, 56% of them know that a non-compliance will have a negative impact of the brand image to their clients and providers.

The capacity to manage the GDPR enquiries is the most relevant element about the compliance of a company. It is time to set up efficient solutions and tools to handle that.

 

Source: https://senzing.com/wp-content/uploads/2018/01/Senzing-GDPR-Report.pdf