Cisco study: Data privacy issues can delay sales
Up to 65% of global businesses have sales cycle delays because of privacy issues, which is exacerbated by the company’s lack of ‘privacy maturity.’
Data privacy issues are not just a problem for compliance with the upcoming General Data Protection Regulation (GDPR). Concerns about data privacy can also be bad for completing sales.
That’s a key takeaway in a new report from Cisco, its “Privacy Maturity Benchmark Study.” As many as 65 percent of businesses worldwide are finding “significant sales cycle delays” because of privacy issues, the report says, based on a survey of almost 3,000 global security professionals in 25 countries.
Two-thirds of respondents said data privacy can cause an average delay in sales cycles of 7.8 weeks. Causes can include an inability of sales teams to address concerns by customers, inadequate corporate policies or engineering issues. Plus, sales cycle delays can be directly impacted by a company’s privacy maturity level.