Data privacy, security challenges and threats were top priorities for virtually every large organisation around the globe, according to the research by FTI Consulting.  The study, which explores how issues of data security and privacy impact in-house legal teams at Fortune 1000 corporations looked at the impact of the General Data Protection Regulation (GDPR), information governance (IG) and data security and remediation. Respondents had many suggestions for proactive ways to address IG and data protection, including addressing the human element and creating a culture of awareness in achieving strong security. While billions of dollars have been spent on technology to strengthen security, several participants said that they do not believe their organisations are safer than they were five years ago, because the human element has not been adequately addressed.

Under pressure

Other organisations reported working with outside experts to focus equally on implementing technology solutions and creating a culture of awareness to address continually evolving data privacy and security challenges. 'A clear and recurring theme is that in-house legal teams are under greater pressure to meet ever-changing and increasing data-related challenges,' said Chris Zohlen, technology expert at FTI Consulting and co-author of the study.

GDPR

Additional key findings in the study included insight on the investment required to ensure GDPR compliance was a top concern among the 80 percent of organisations that confirmed they will be impacted by the regulation. However, they were divided on whether they should wait to see how the regulation will be enforced before acting, vs. working to get ahead of penalties proactively. 

Cloud storage and machine learning

The survey also revealed that the growth of cloud storage and machine learning is making it easier for organisations to identify trends and realise monetary benefits from enterprise data. Finding the right balance between Big Data and over-preserving is a common challenge. Organisations know they are creating and saving too much data, and more than half of respondents reported successfully conducting data remediation projects. Others were hampered by limited resources, lack of engagement from cross-department teams or failure to obtain C-level buy-in to move projects forward. 

Enterprise data

'In today’s business climate, all organisations are challenged to better protect enterprise data, which is a complicated effort that requires dedicated resources across multiple departments,' said Jake Frazier, head of the information governance, privacy & security practice. 'Overcoming the initial barriers of securing buy-in and approval from top company leadership can be overwhelming but will make all the difference in setting projects up for success from the outset.'