Are you ready for GDPR?
So, what does GDPR stand for? The General Data Protection Regulation (GDPR) was approved by the EU Parliament on 14 April 2016. Companies were given a two-year transition period so they could change the way they handle customer data before it comes into force. Well, those two years have almost passed. But according to a recent study by Gartner, less than 50% of EU companies are actually ready to meet the full requirements of this regulation. In this article, we talk about how to make your app GDPR-compliant.
Gartner’s study also shows that only one-third of companies have gotten help with GDPR compliance from a third-party consultant. Yet most companies actually need help, as they report struggling to make their apps and products GDPR-compliant. Half of EU companies say that they don’t have a sufficient budget to fund this transition. Over 48% report a lack of IT expertise that would allow them to meet the requirements, and 27% of business owners aren’t even sure they understand the regulations fully.
Though only 27% of companies say that they probably won’t be able to meet the deadline, Gartner believes that this number is too optimistic. So even if you still aren’t ready to be fully compliant, you aren’t alone. GDPR is a very important regulation that will take time to be fully enforced. Sooner or later, however, you’ll need to adjust the way you gather and use data from your customers.
Why can’t I ignore GDPR?
According to EU law, playing games with user data and ignoring GDPR can result in heavy fines of up to €20 million or 4% of annual revenue if a data breach occurs. A survey by Vanson Bourne shows that for 17% of companies, this would mean the end of their business. This percentage is even higher for small businesses (54%).But despite the danger, only 6% of companies in the UK have made GDPR compliance a priority.