New report: Brands set budgets and expectations for GDPR compliance
Conducted by Forrester for governance solution provider Evidon, the study indicates that companies doing business in Europe are gearing up.
A new study from Forrester supports the idea that brands doing business in Europe are making a concerted effort to comply with the upcoming General Data Protection Regulation (GDPR) and the related ePrivacy Regulation.
The report — “Embrace the GDPR to Gain a Competitive Edge” [registration required] — was commissioned by Evidon, whose technical solutions for governance, risk and compliance include a GDPR offering. Evidon told me it had final edit of the report and helped determine the survey questions, but it didn’t have any ongoing editorial control.
Almost half (48 percent) of the responding firms said they are setting up an initial establishing budget of more than a million dollars for GDPR/ePrivacy compliance. Fifty-eight percent will have a maintenance budget of about the same amount, and 67 percent expect these budgets will rise after May.