Mission Critical Data Compliance Top Priority In The Face Of Brexit
Though the date for the implementation of Article 50 has been as fluid as the Thames in a flood, the need to stay ahead of the game where data compliance is concerned is more vital than ever.
Any delay in making the necessary changes in anticipation of the UK’s exit from the European Union could leave British companies flagging far behind their European counterparts. But even before the likely 2019 deadline occurs, shortcomings in data compliance could come with a price tag no company wants to pay.
Facing The Demands of General Data Protection Regulation
The new EU GDPR legislation is proving to be a massive demand for many, but the benefits are explicit. While the policy itself originated from within the European Union, in the face of Brexit the expectation on UK businesses is no longer simply to meet the requirements of the GDPR. Now British companies must go even further and exceed them.
Within Europe, key competitors are already making inroads to implement the GDPR across their businesses. And with one eye on Brexit, UK companies must do even more to make sure they maintain their competitive edge on both sides of the water. Failure to do so carries the risk of delivering outdated or non-compliant services in data critical markets, which can lead to declining market share and significant losses in sales.
However, this isn’t just a one way street. Incorporating the improvements that come from these powerful management tools also offers an opportunity to effect fundamental advantages in business processes that can create efficiencies and cost savings of more than 50%.
Dual Compliance For UK Businesses
It has already become apparent that, at least in the foreseeable future, post Brexit UK businesses will have to operate on a dual level of compliance. They will need to meet the requirements of their foreign clients, while also incorporating the changing needs of a newly independent Britain.
Theresa May has said herself that she intends to bring in a Repeal Bill to adopt the standards of Europe post Brexit; but only when they are applicable to the changing face of an independent UK. Only by adopting the hosted desktop and cloud services that can deliver on this dual platform without paying a dual cost, can British businesses survive.
But if the alternative is the risk of trade discrimination for non-compliance, the question is not whether a business will comply; rather, it is how they can do it to the best possible effect.
The Benefits of Dual Data Compliance
As we have seen with many Curavar customers to date, when you convert the demand for higher levels of data compliance into an investment opportunity for innovation, the benefits can be significant.
Instead of provoking trade discrimination for non-compliance, it can maximise sales advantages and open up new market opportunities. Such investment adds value to the brand, and minimises the risks of data protection penalties while increasing reliability and functionality.