Many companies are still struggling to be
compliant with GDPR, according to the Capgemini Research Institute. A report
from the firm says that only 28% have successfully achieved compliance so far,
but of those that have complied, 81% say GDPR has had a positive impact on
their reputation and brand image.
The report, entitled Championing Data Protection and Privacy – a Source of Competitive Advantage in the Digital Century, says that companies have struggled to overcome various barriers to compliance, including complexity of regulation, cost of implementation and legacy infrastructure.
In addition to the 28% who have complied, 30% of firms say they are close, but still resolving issues.
Once they do comply, companies get unexpected benefits. Of those that have achieved compliance, 92% said they gained a competitive advantage. There is also a perceived positive impact on customer trust (84%), brand image (81%) and employee morale (79%). The report also identified positive ‘second-order effects’ of implementing GDPR, including improvements in IT systems (87%) cybersecurity practices (91%) and organisational change and transformation (89%).