Three Out of Four Companies Unprepared for GDPR: Openprise Poll

Three Out of Four Companies Unprepared for GDPR: Openprise Poll

Openprise Survey of 500 Professionals Shows Lack of Awareness of New Regulations Affecting Marketing & Sales Teams

The leading provider of B2B data orchestration solutions, Openprise, made an astounding revelation today on companies’ unpreparedness for General Data Protection Regulation (GDPR). Openprise polled 508 Dreamforce conference attendees in San Francisco earlier this month on their awareness of the General Data Protection Regulation (GDPR). With less than six months to go before GDPR sets in, less than 50% of the respondents were actually aware of GDPR and the consequences of non-compliance.

GDPR, which officially takes effect on May 25, 2018, strengthens data protections for all individuals within the European Union (EU). In addition, it addresses the export of personal data outside the EU. It affects any company that has EU prospect or customer data in its marketing and sales systems, regardless of whether it has offices or salespeople in the EU.

Also Read: Openprise Launches ‘Openprise Data Marketplace’ to Normalize Data Ingestion and Unification

The penalties for non-compliance are steep: up to USD 23.6 million, or 4% of a company’s annual global revenue, whichever is greater, based on the seriousness of the breach and damages incurred.

With only six months to go until GDPR takes effect in May,
however, only about half of survey respondents at Dreamforce were aware of GDPR,
and the number is even lower (43%) for those in sales and marketing.

 

Three Out of Four Companies Unprepared for GDPR: Openprise Poll

 

While awareness was higher (72%) for those who indicated that they had EU data in their company database, most said they’re still ill-prepared: only three out of five indicated that they had a framework to ensure GDPR compliance.

Three Out of Four Companies Unprepared for GDPR: Openprise Poll

Furthermore, awareness didn’t guarantee understanding or readiness. Of those who knew what GDPR was —

  • Only 49% had a framework in place for compliance.
  • 38% weren’t sure what the biggest challenge was when it comes to compliance.
  • 32% perceived “managing data stored across different parts of the organization” as the biggest hurdle, followed by a lack of understanding of GDPR’s impact (21%), and identifying who within the organization shoulders the responsibility (10%).

Currently, Openprise solves the “garbage-in/garbage-out” problem for data-driven marketing and sales teams. Openprise automates critical business processes including data onboarding, cleansing and enrichment, data unification across systems, and data delivery.

Also Read: ABM Isn’t Getting the Help It Needs from Third-Party Data, Says Openprise Report

Openprise is designed from the ground up for CRM, so it has the business rules, best practices, and data built right in, and it seamlessly integrates with solutions like Marketo, Eloqua, Pardot, Desk, and Salesforce, so you’re up and running fast.

Three Out of Four Companies Unprepared for GDPR: Openprise Poll

 

“It’s disconcerting that companies as a whole still lack awareness when it comes to GDPR, not to mention an understanding of how to gain compliance. The runway is disappearing. If you have any EU data in your sales and marketing databases, you must act now to ensure GDPR compliance and avoid steep penalties that could sink your company,” said Ed King, Founder and CEO of Openprise. 

According to Julian Archer, Senior Research Director, Marketing Operations Strategies at SiriusDecisions, “The Openprise survey results align with our own research findings. The reality is that most US-based marketers are just now beginning to understand what GDPR is, and they’re quickly realizing that failing to comply is not an option.”

The survey was conducted by Openprise, whose data orchestration platform automates critical business processes, including data onboarding, data cleansing and enrichment, data unification across systems, and data delivery.

The Openprise Data Orchestration Platform provides critical GDPR capabilities, including the ability to: control the flow of EU data out of a company through fine-grained data filters and permission roles; identify leads and contacts that fall under GDPR, even if they’re missing a valid field code; and maintain detailed reporting on data processing activities inside Openprise and across third parties.

Recommended Read: Dreamforce TechBytes with Mike Fitzmaurice, VP, Workflow Technology at Nintex

 

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