Companies Take Risks With Compliance
Over the last decade, compliance has emerged as an enormous challenge for organizations large and small. Amid a spate of regulations and requirements, many companies are struggling to manage policies and regulations. A study of 200 North America IT and business executives conducted by DataMotion, provider of cloud-based data delivery services, indicates the severity of the problem. Nearly one in three respondents admitted that their organization knowingly takes compliance risks. "Data breaches are more prevalent than ever, and regulatory agencies are handing out millions of dollars in fines for privacy and security violations, yet this survey shows companies are still cutting corners," noted DataMotion Chief Technology Officer Bob Janacek. A main problem is caused by executives who believe a data breach is less expensive than the cost of compliance. What these executives fail to recognize, he says, is that "the price they'll pay goes far beyond compliance fines." Their brand is likely to take a hit, and their reputation will suffer.