Tuesday, 3 May 2016

EU-GDPR Finally Becomes A Reality

EU-GDPR Finally Becomes a Reality - 

But Will We End Up Running in Circles?


Notification within 72 Hours

Fines of up to 4% Global Turnover

Recent research by our solution partners, FireEye, surveying companies in the UK, France and Germany revealed that there is quite a way to go for companies to adequately meet the required measures of EU GDPR and NIST.

Now that the limbo is over, their research shows that only 20% of companies surveyed would have all measures in place to comply with the new standard.  Happily, 44% are reported as having most measures in place but this still means there is some considerable work to do and challenges to be overcome.

Strategy, Planning & Implementation

Out of the key challenges expected by these companies, as identified by the research, those most cited were new hardware and software implementation (23%) and of course the implementation costs associated with this (23%).  However, next on the list was policy complexity (18%) and sourcing sufficient expertise (12%).  It is clear, that with a short timeframe of 2 years for infrastructure and policy implementation, that companies need to start their journey to compliance now.  

72 Hour Notification Requirements: Interestingly, companies surveyed felt that the incident reporting timeframe was the least of their worries, notching up a nominal 5%. With all the frameworks in place, all companies will be on a level playing field regarding this requirement.  This simply needs judicious planning in the event of a breach to reduce its impact on your corporation. 

From our experience of clients already endeavouring to align with NIST and EU-GDPR, this is a complex and often lenghty process, particularly in terms of policy  and procedure alignment across multiple nations - and not just within the EU. For international companies seeking to sell into EU member states, the same policies will still apply.  

What do you think?

What is your greatest concern regarding the introduction of EU GDPR?


Budget
Infrastructure Requirements
Specialist Skillsets
Policy Alignment
Incident Management

Vote Here!

EU GDPR Key Facts  - View the Infographic here

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