The Impact of Data Compliance on Business and Profitability
The gap between regulatory compliance mandates and practical implementation and enforcement is widening. Many would characterize the gap as a “Compliance Chasm”. As digital technology penetrates every aspect of modern life, enterprise data volume and data sprawl are growing exponentially. To protect consumers, compliance and governance bodies are increasing data regulations without consideration for the economic and operational impact on business enterprises. Despite rising investments in privacy, security and compliance, today’s whack-a-mole enterprise strategy of reacting to new compliance mandates is not keeping up. To take back control and “Cross the Compliance Chasm”, new thinking is required to reduce the cost, complexity and impact of implementing current mandates, while future proofing the enterprise for new regulatory environments
