In today’s digital landscape, the concept may initially appear paradoxical – the idea of safeguarding data by default actually streamlines the process of granting authorized access through platforms like Satori. This strategic shift empowers companies to confidently provision data access for legitimate business purposes.

1. GDPR Led the Way
2. Trust, not compliance, primary concern
3. Strategic Approaches target multiple Data Privacy laws
4. Opting for Zero Trust / Zero Risk

Data privacy and cybersecurity have become formidable challenges, with a relentless barrage of high-profile breaches continually making headlines. This was a finding of a 2021 Corinium Intelligence report.

From ransomware attacks on industry giants like JBS and Colonial Pipeline to the release of sensitive personnel files from the Washington, D.C. Metropolitan Police Department, it’s clear that digital data’s allure lies in its inherent value. Moreover, the global data reservoir expands unabated.

Governments worldwide have responded with guidance, directives, and regulations aimed at curbing the frequency and severity of cyberattacks.

GDPR Led the Way

The European Union’s introduction of the General Data Protection Regulation (GDPR) in 2018 exemplified this seriousness by imposing fines of up to 4% of a company’s revenue for non-compliance. This figure is substantial, particularly when compared to the efforts companies make to minimize their tax liabilities.

Trust, not compliance, primary concern

However, not all companies appear concerned about the financial repercussions of fines, as revealed in the survey conducted.

Astonishingly, the data indicates that a majority (73%) of companies do not harbour concerns about fines, though they remain deeply committed to compliance.

In fact, an overwhelming majority (94%) consider compliance a top organizational priority. This suggests that companies are strategically approaching compliance, with a focus on cultivating trust among their customers and partners.

Strategic Approaches target multiple Data Privacy laws

Subsequently, many African countries, from South Africa (PoPIA) to Kenya to Nigeria (NDPR) to Mauritius have implemented their own variation of GDPR type regulations, with more on the way. Each regulation builds on a similar foundation, with its own quirks and variations that must be accomodated.

Further insights from the survey suggest a maturation in enterprise-level data security readiness.

All respondents reported investments in compliance with data protection laws, with a mere 6% concentrating solely on a single regulation, such as GDPR.

The rest are tackling multiple regulations, with an impressive 49% adopting a high-level strategic approach that automates and standardizes enforcement across various laws.

Likewise, 70% of respondents express a high level of confidence in their ability to pinpoint the whereabouts of all their data. This confidence is pivotal because once companies ascertain the location of their data, they gain the ability to manage it effectively.

Opting for Zero Trust / Zero Risk

We advocate for a zero-trust approach to data access and authorization.

While it might initially seem counterintuitive, establishing stringent default data access controls actually simplifies the process of utilizing automated data authorization platforms like Satori and Pathlock to grant access to those with legitimate business needs.

We extend our gratitude to Corinium Intelligence for conducting this survey and for conducting insightful follow-up interviews with industry experts. We trust that you will find the survey results as enlightening as we did.