With the deadline a month away, only 40% of companies worldwide are prepared for the EU’s General Data Protection Regulation (GDPR), according to a study released on Tuesday by Crowd Research Partners.
The main obstacle is lack of expert staff. But lack of budget is also a factor. And while none cite it, attitude may also be an issue: A fifth say GDPR is not a priority, and almost that many try to avoid notifying anyone in the event of a data breach.
“What is striking is the lack of GDPR expertise and an overall underestimation of the effort required to meet GDPR, which represents the most sweeping change in data privacy regulation in decades,” states Holger Schulze, CEO of Cybersecurity Insiders.
Cybersecurity Research Partners surveyed 531 IT, cybersecurity and compliance professionals.
Of the firms represented, only 7% are fully prepared, and 33% are well along the way. And 32% say they have initiated the process but do not feel they will meet the deadline. Another 28% have developed plans, but have not done much else.
The laggards are facing a long haul — 41% say it will take them a year or more, while 12% believe it will take 48 months and 14% believe it will take even more time.
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