Over a year on from the introduction of the General Data Protection Regulation (GDPR), the Capgemini Research Institute has found that companies vastly overestimated their readiness for the new regulation with just 28% having successfully achieved compliance.
This is compared to a GDPR readiness survey last year which found that 78% expected to be prepared by the time the regulation came into effect in May 2018. However, organizations are realizing the benefits of being compliant: 81% of those that are say GDPR has had a positive impact on their reputation and brand image.
Companies have responded to new requirements more slowly than they expected, citing barriers including the complexity of regulation requirements, costs of implementation and challenges of legacy infrastructure.
Meanwhile, a significant number of organizations are investing heavily in data protection and privacy to ensure compliance with existing regulations, and to lay the foundation for those to come.
Enterprises have fallen behind on GDPR compliance
Although over a year has passed since GDPR went into effect, the position of many enterprises remains uncertain in terms of compliance. While 28% of organizations say they have achieved compliance, just 30% of organizations are “close to” complete compliance but still actively resolving pending issues.
Compliance was highest with companies in the US (35%), followed by the UK and Germany (both on 33%), and lowest in Spanish, Italian, (both on 21%) and Swedish companies (18%).
Executives identified the challenges of aligning legacy IT systems (38%), the complexity of the GDPR requirements (36%) and prohibitive costs to achieve alignment with regulations (33%) as barriers to achieving full GDPR comp ..
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