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GDPR compliance can drive competitive advantage

GDPR compliance can drive competitive advantage

More than two-thirds of organisations are still not fully compliant with the General Data Protection Regulation (GDPR), despite it coming into effect nearly two years ago, and the threat of heavy fines for non-compliance. That’s according to a Capgemini Research Institute survey of 1,100 compliance, privacy and data protection personnel.

Despite nearly three-quarters of businesses stating that they were confident they would meet their GDPR obligations before the May 2018 deadline, many are still struggling to adhere to the regulation. Just 28% believe they are now fully compliant, according to the Capgemini survey.

Obstacles to GDPR compliance

The largest obstacle to GDPR compliance cited by companies was legacy IT systems, with 38% of survey respondents believing that their current IT landscape was not aligned to the complexities of GDPR. The second most common challenge stated was the effort required to implement GDPR compliance and the complexity of the regulation itself (36% of respondents). Finally, one third believed that the financial costs associated with compliance were too prohibitive.

According to a different report – GDPR Data Breach Survey from law firm DLA Piper – over 160,000 data breach notifications have been reported across the 28 European Union Member States plus Norway, Iceland and Liechtenstein since the rules came into force.

Furthermore, regulators have imposed €114 million in fines for a wide range of GDPR infringements. France, Germany and Austria top the rankings for total value of GDPR fines with just over €51 million, €24.5 million and €18 million, respectively (including a €50 million in France for Google).

GDPR compliance can drive competitive advantage

But it is not just the fear of heavy fines that should be driving the implementation of GDPR compliance across a company and the development of a GDRP-focused mindset. Going back to the Capgemini survey, 92% of executives whose company was fully compliant believed that it had given them a competitive advantage through improved customer trust and satisfaction, as well as a better brand image, which together had helped them to boost revenue.

However, GDPR does not need to be challenging for your call recording solutions. Touch can provide a GDPR ‘health check’ across existing solutions, and offers a replacement for a cloud-based service for mobile and fixed call recording, as well as digital communications across over 40 channels, including SMS, Bloomberg, chat and enterprise applications.

The solution also offers easy-to-use web-interface with advanced search and retrieval capabilities, with hierarchical-based access control, which ensures that access rights are restricted. The service is complete and ensures you meet all regulations and obligations relevant to GDPR.

Touch offers call recording as a service and it requires no CAPEX nor a lengthy and disruptive deployment phase, and can be quickly and painlessly integrated into existing IT and telephony infrastructures. 

Touch Call Recording Service can help organisations to be GDPR-compliant quickly, easily and cost-effectively. It can restrict access to data to named personnel and provides an efficient storage, management and retrieval system for all GDPR needs. So, stop delaying, and get in touch with us today to find out how we can help you to become GDPR compliant.

Written on 28 April 2020
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