According to a TechValidate survey on behalf of ForgeRock, a leading open platform provider of identity management solutions, released this week, an incredible 91% of companies don’t have sufficient data privacy and consent tools. In addition, 95% of respondents to the survey said that at C-level the concern about personal data privacy and their ability to manage, control and share data about themselves online, and across the Internet of Things (IoT), is at a critical level.
IT executives in countries across Europe, Asia-Pacific and the US were polled covering a range of industries including finance, healthcare and telecommunications. 96% of respondents believe that the new European data protection regulations that are expected in a couple of years will make it a requirement that organisations and businesses have better standards and tools for ensuring that personal data is protected, as well as the correct privacy and consent has been authorised.
The survey also revealed differences in data privacy opinions between US-based and EMEA-based IT professionals. 85% of US IT professionals believe that they will adopt personal data protection regulations at some point that are similar to those in Europe. However, just 66% of European IT professionals believe that the US will actually implement those regulations.
ForgeRock and TechValidate’s survey also asked the IT professionals their views on data privacy as a requirement for customer satisfaction and 95% of respondents agreed with the following statements:
• Organisations want to build trust by giving customers the ability to consent to data sharing and to control who their personal data is shared with.
• Individuals are becoming increasingly concerned about their personal data privacy and their ability to control, manage and share data about themselves online.
• The ability to preserve and prove customer privacy builds loyalty for their brand.
Mike Ellis, CEO at ForgeRock, said: “As our survey illustrates, coping with regulation – privacy or otherwise – is no longer just a cost center for organisations. As connected devices and technologies take on a greater role in public and private life, there are massive business benefits to building in new identity and data privacy solutions that can scale over time.” He added: “Organisations clinging to legacy identity management technologies – which are currently inadequate – will be at a major disadvantage.”
A Senior IT Architect in the Federal Government and a survey respondent commented: “Organisations need to be transparent with their treatment of data privacy, and provide clear opportunities for people to make decisions about how their private information is treated.”