Only seven percent of global businesses are fully compliant with GDPR.
A new study from analytics firm SAS shows that 93 percent of firms have not met all of the demands posed by GDPR. This is despite the fact that it comes into force next month.
Less than half of respondents (49 percent) said they would be compliant before the May 25 deadline. European companies seem to be more prepared for the law, though.
Currently, 53 percent of EU and 54 percent of British organisations are expected to meet the deadline, compared to just 30 percent in the United States.
UK SAS’s GDPR technology head David Smith said that despite the long run-up to GDPR, the vast majority of UK organisations still don’t have processes in place to manage their data in compliance with the new rules
“At this point, senior leadership needs to take ownership of getting the whole company on board, from IT to operations, to make sure that all personal data is accurately located and appropriately handled.”
While the study shows that most businesses are struggling to meet the deadline, 93 percent said they are working on plans to become compliant.
Most see GDPR as a good thing, with 84 percent of respondents saying they expect GDPR to improve their data protection abilities. And 68 percent believe that the law will enhance customer trust.
In other findings, 58 percent of respondents said they had developed a structured plan to become GDPR-compliant, but 15 percent of US respondents and 4 percent of EU respondents said they have no such plans at all.
Smith added: “There’s a great opportunity contained within the challenge of GDPR. Organisations that gain greater control and understanding of their data will be better able to provide their customers with the services they want, in the manner that they wish to them.
“Those companies that can innovate through GDPR will gain a significant advantage over competitors who get stuck in the long grass of compliance.”
