In May 2018, Europe’s General Data Protection Regulation (GDPR) comes into law, in what is described by many as the largest regulatory change to hit the business landscape in over a decade. GDPR is unfolding as a lucrative market within the risk & compliance and technology segments. Two out of five companies said that they have significantly increased their business expenditure to ensure preparedness, including spending on consulting services. The use of external expertise is increasingly prevalent, with 60% of businesses looking for external support in order to deliver their compliance project before the May 2018 deadline.
Fileom’s Partner Program delivers opportunity and growth for partners, both in recurring and complementary services and product revenue. The EU GDPR represents an immense opportunity for software and IT solution providers, management consultancies, and professional service companies to partner with Fileom and deliver modern capabilities to their customers, and for the end customer to transform their businesses and compete at a new level.
92% Said Business is Unprepared for GDPR
RSM conducted a survey of 400 European executives in Nov 2017. Only 8% of executives were confident of GDPR readiness. approval process, or transaction digital—from almost anywhere in the world, on practically any device.
52% Agreed Regulation is Necessary
Respondents agreed regulation to monitor the use of personal data is necessary
28% Unaware of GDPR Regulation
One in four business leaders are completely unaware of the regulation.
$700,000 Fined for Data Breach
The Hilton Hotel group was recently fined $700k for a data breach in New York State, this could have risen to $420m under GDPR.
60% of Businesses Need External Support
Majority of businesses require consulting support to deliver GDPR compliance.
26% Admit they Will Not Meet the May 2018 Deadline
Worrying that a quarter of business leaders admit they will not be able to meet the GDPR deadline.