The predicted immediate economic slump has not materialised but there are growing signs that the uncertainty around BREXIT is having a detrimental effect on UK business. BREXIT was identified as the third most pressing issue after GDPR and cyber-security for respondents to the survey conducted by Serviceteam IT.
In the past, cyber attackers have often been unaware of how much stolen data is worth to organisations. However, the implementation of GDPR means that organisations can be fined up to 4% of their global annual turnover or €20m, whichever is greater, if found to have a data breach. These fines effectively provide cyber criminals with a price point for criminals to understand how much the data is worth to organisations.
Technology companies are behind 24% of UK exports and 3 million jobs. However, the UK’s high-tech industry is likely to suffer as a result of the vote to leave the EU. This is expected to occur as a result of the significant network effects that impact this sector of the economy.
“Anything to do with Brexit is uncertain [and] makes life more complicated”, Ben Griffiths, Head of Systems, Analysys Mason. In the face of this uncertainty and complexity it is imperative that firms don’t just remain passive regarding the changes happening around them. Read some of the key things businesses can be doing to prepare for the challenges Brexit brings with it.
The cloud offers a variety of benefits for firms in terms of cost savings and efficiency gains and it is therefore unsurprising that the number of businesses migrating to the cloud is increasing year on year. Despite the surge in migration it is important to consider the implications of data sovereignty when deciding which cloud service provider to use. Data sovereignty is something that can have a massive impact on businesses, but there is still great uncertainty surrounding this subject.
The General Data Protection Regulation (GDPR) will come into effect from the 25th of May 2018 and aims to bring data protection legislation in line with the ways in which data is currently used. One of the key findings from our UK Cloud Snapshot Survey 2017 report was that 62% of respondents highlighted GDPR as the biggest challenge to their IT plans over the next 3 years. Adherence with GDPR in the opinion of one interviewee was “bigger than anything else the company has had to deal with”.
Ensure you achieve the best possible data centre or cloud technical, commercial and compliance fit for your business. We have the industry and market knowledge regarding Data Centre and Cloud to help you eliminate what can be a frustrating and time consuming exercise. We monitor data centre capacity, managed services, new data centre builds, costs, availability and cloud suitability.
Many businesses are confused by the regulation of the GDPR and find them almost impossible to translate into a set of controls to implement across the organisation. With just one purchase you can now put in place the security baseline you need in order to meet the legislation and get compliant.
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