4 Months on from GDPR, How are Businesses Coping?
Introduced in May 2018, GDPR caused widespread panic among businesses of a variety of sizes. However, several months since GDPR came into force, are businesses still as apprehensive as they once were, or have many risen to the challenge?
The Pre-GDPR Apprehension
In November of last year, a study from RSM revealed that 92% of European businesses were under-prepared for GDPR.
However, at the time of the study, over half of those surveyed also revealed that they felt increased regulation around the use of personal data was also a necessary step businesses should be taking.
So, did the ethical call for increased regulation mean that businesses are now thriving in a post-GDPR world, or did unpreparedness win the day? Let’s take a look.
Month One: Companies Struggle Post-Launch
Post-launch, it really did feel as though unpreparedness was an issue, particularly in the tech sector. Pinterest, for example, struggled with its news-clipping service and had to bar users from the EU due to issues with its privacy settings.
Smaller online companies also struggled, with many completely removing their services or barring people from within the EU accessing their site altogether.
There are also rumours that some of the largest companies in the world, including Google, are struggling with the increasing amount of data requests from customers. Something that is a very manual and costly task to correct.
Months Two to Four: Companies Recover but Still Face Challenges
However, many of these companies also stated that the fixes were short-term due to the rush to implement GDPR regulations by the deadline, with many weary of fines. Since, we’ve seen companies rebound from the rush and panic, and Pinterest have even returned Instapaper to the EU market.
However, companies do still face challenges, including:
– An increase in data requests from people wishing to know what data a company holds on their file
– A struggle to locate data that the company currently holds across all channels and communication methods
– Reduced marketing databases due to people either unsubscribing from mailing lists or failing to reply to emails asking them to opt back in
– Loss of important records due to the deletion of customer information either just before or just after the GDPR deadline
To conclude, although the rollout of GDPR regulations was originally largely problematic for businesses, we’ve seen a stabilisation in the last couple of months. Challenges are still faced by companies, but with the correct implementation practices and regular reviews, many companies should be able to continue to implement GDPR successfully.