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With a staggering 84% of small business owners and 43% of senior executives of large companies being unware of GDPR according to Security Tracker Research, it is clear that more emphasis needs to be made around the forthcoming regulation.
May 2018 sees the introduction of the General Data Protection Regulation (GDPR), and contrary to some belief it still applies even post-Brexit. According to a survey by Crown Record Management conducted by IT decision makers in UK companies, 44% believe that GDPR will not apply after Brexit. FALSE! As we signed up to it before the referendum and if businesses wish to continue processing data belonging to EU firms, and not face eye-watering fines, then they need to be compliant in time for May 2018. So, for the 24% that are no longer preparing for it and some 4% that have not even begun, maybe it is time to have a rethink about your data strategy.
But what does all this mean for companies regarding their data storage? What is certain is that the introduction of GDPR will drastically affect the future of stored personal data and ultimately increase company liability. With data volumes growing four times faster than the global economy it is of paramount importance that businesses are prepared to cope with the magnitude of the challenge ahead.
It’s time to prepare in anticipation of GDPR and those that are ahead of the game are starting with the most fundamental element of data management: where to store the ever-expanding consumer information. The solution to ensure that you stay compliant and that the information is accessible is to bring the data back home – data localisation.
To adhere to regulations global operating companies are moving towards a trend of integrating their data centres in the region where the applicable regulations for its management are in force. Some specific sectors require even tighter control of their data, including healthcare and defence which is why data localisation is becoming a favourable choice. It’s a challenging time as the crux of the issue is that the internet is global, but regulation is local.
With less than 12 months to go and with only 19% of the 400 UK Chief Information Officers surveyed by Compuware having a detailed plan in place for how they will comply with GDPR it is worryingly far below the global average figure of 38%. This concern increases by the fact that only 37% of the UK’s 500 IT professionals questioned by WinMagic would be confident that they could report a breach within 72 hours of discovery.
It is evident that companies within the UK still have some way to go, and are running out time if they are to avoid the risk of being fined. However, it is important to stress that to achieve full compliance, businesses must consider how they move, manipulate and process all data and not just the data within the data centre, whether it is used online or offline.
Is it time for you to bring your data home?
For more information on Workspace Technology’s Data Centre Solutions please contact sales@workspace-technology.com or call 0121 354 4894.