72 pc of Organisations Worldwide are GDPR ready

EfficientIP, a leading provider of global DDI services, unveils the findings from an independent study showing how prepared global organisations are 100 days before the deadline for EU GDPR compliance on 25th May 2018.

The major findings show businesses have never been so close to being fully compliant to new data regulations, and for the first time, organisations identify the positive benefits of compliance.

EfficientIP, through independent market research firm Coleman Parkes, asked over 1,000 companies worldwide about their preparation plans for GDPR. The key findings found:

The majority of businesses globally are prepared for GDPR
* Over two-thirds of global businesses at 72 percent are confident they will have all required GDPR compliance processes in place by 25th May 2018.

* North America is the most confident region in world, with American and Canadian organisations saying they will be prepared at 84 percent and 75 percent, respectively.

* Despite the on-going Brexit negotiations and uncertainty looming over the enforcement and effectiveness of the EU GDPR regulation on local businesses, the UK is the most confident nation in Europe, with 74 percent saying they will be ready by deadline day.

* In comparison, Spanish businesses are a close second to the UK at 73 percent, dropping to 66 percent of French respondents. German organisations are the least confident in Europe at 61 percent.

Businesses worldwide believe there will be a variety of benefits they will gain from being GDPR compliant. Nearly half of all organisations surveyed, at 46 percent, say the most important benefit from being GDPR compliant is gaining customer trust to handle sensitive data. 31 percent of businesses believe the most important value from compliance is enhanced brand awareness. 18 percent of respondents felt GDPR compliance will increase customer loyalty is the most important benefit.

APAC, North America and Europe businesses believe the biggest positive impact from compliance is increased trust in handling customer data at 53 percent, 46 percent and 41 percent, respectively.

European organisations lead the study in saying increased customer loyalty is the biggest impact at 22 percent, with North America and APAC following, respectively, at 15 percent, and 14 percent.