45 Days to Go: 76% of U.S. Organizations Are Concerned About Meeting the GDPR Deadline
April 11 2018 - 5:02PM
Business Wire
Only half of U.S. businesses will invest in public cloud
services and ensure compliance with data protection regulation
requirements like GDPR
NetApp (NASDAQ:NTAP) – With 45 days until the May 25 enforcement
date of the EU’s General Data Protection Regulation (GDPR), NetApp,
the data authority for the hybrid cloud, today released research
findings from a global survey of IT decision makers across the
U.S., UK, France, and Germany. The survey shows that these decision
makers are still missing an opportunity to transform their business
through a holistic data management approach that reduces risk and
improves business efficiency. For nearly two years, most
organizations have lagged in addressing their GDPR compliance, and
in some cases are ignoring the issue completely. In doing so, they
are ignoring the benefits to be gained from the compliance effort,
including developing a data-centric approach to control, manage,
and move data regardless of where it’s stored – on premises or in
the cloud. A data-centric approach drives improved efficiencies and
competitive advantage and unifies data governance practices across
organizations to drive down cost.
According to the report:
- 40% of U.S. businesses and 35% of
global businesses think that GDPR could threaten their existence
due to financial penalties, while 52% of U.S. businesses and 50% of
global businesses think that it could lead to reputational
damage.
- Only 52% of U.S. businesses and 39% of
global businesses are confident that they know where their data is
stored.
- 63% of U.S. businesses continue to
invest in private cloud services and ensure compliance with data
protection.
“The survey responses are surprising, given that the key
capabilities required for ensuring data privacy and complying with
the GDPR are also essential for increasing business efficiency and
competitiveness,” said Elizabeth O'Callahan, NetApp vice president,
Legal. “GDPR compliance requires organizations to know where their
data is and to be able to classify data and control the lineage of
data – all capabilities that are essential for data analytics
initiatives designed to deliver accurate business insight. These
capabilities are also fundamental to the success of other digital
transformation and omnichannel marketing initiatives, including
mobile networks, AI and machine learning, IoT, robotics, and
more.”
In light of frequent high-profile data breaches, a
GDPR-compliant data privacy program will also establish trust among
customers and partners. Companies that embrace GDPR compliance can
create a clear competitive differentiation in the marketplace.
NetApp understands the process and legal requirements that GDPR
imposes on organizations that store, process, or hold data on EU
residents. NetApp is one of fewer than 100 companies in the world
that have EU-approved Binding Corporate Rules (BCRs), and NetApp
partners with the world’s top governance, risk, and compliance
(GRC) consultancies and e-discovery vendors. NetApp can help
customers integrate NetApp® and partner technologies to enable them
to identify where personal information is held, improve their data
management and governance processes, and build GDPR-compliant
processes into their day-to-day activities.
“Companies that control their data control their destiny, so it
is surprising to see that despite the risk-reduction and
operational benefits of GDPR compliance, so many businesses are
still struggling to meet the deadline,” said Bill Miller, NetApp
CIO. “The good news is that there is still time to engage a GDPR
expert to help prioritize and complete the most critical GDPR
compliance tasks and ensure that you, your partners, and your cloud
providers know where your company’s data is stored. Most important,
organizations need to shift their thinking. Every step they take to
comply with the GDPR makes them a stronger business.”
Annual NetApp GDPR Survey
The NetApp GDPR survey was conducted across a database of 1,100
C-suite and IT managers responsible for IT buying decisions in the
United Kingdom, United States, France, and Germany, working in
companies with 100 or more employees, to understand attitudes and
readiness toward cloud services, data needs, and the level of
awareness and preparedness for the upcoming GDPR legislation.
Additional Resources
- NetApp 2018 GDPR Survey Results
- NetApp GDPR Overview
About NetApp
NetApp is the data authority for hybrid cloud. We provide a
full range of hybrid cloud data services that simplify management
of applications and data across cloud and on-premises environments
to accelerate digital transformation. Together with our partners,
we empower global organizations to unleash the full potential of
their data to expand customer touchpoints, foster greater
innovation, and optimize their operations. For more information,
visit www.netapp.com. #DataDriven
NETAPP, the NETAPP logo, and the marks listed at
http://www.netapp.com/TM are trademarks of NetApp, Inc. Other
company and product names may be trademarks of their respective
owners.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180411005738/en/
NetAppMadge Miller, 1 408-419-5263ng-uspr@netapp.com
NetApp (NASDAQ:NTAP)
Historical Stock Chart
From Apr 2024 to May 2024
NetApp (NASDAQ:NTAP)
Historical Stock Chart
From May 2023 to May 2024