Managing compliance in the enterprise is a challenging task, and often sits in a silo somewhere between data custodians and the rest of the business. Building a robust compliance strategy requires raising the profile of regulatory requirements to the level of business priority, figuring out where relevant information is stored and ensuring access to that information, and building a robust governance and compliance culture which is scalable. These steps represent challenges to many organisations.
Compounding the existing compliance challenge is a wave of new local and global regulations aimed at making enterprise organisations more accountable for the safekeeping of their customers’ data. The European Union’s General Data Protection Rule (GDPR) is a significant regulatory disruption that could see organisations hit with fines of up to 4 per cent of annual global turnover if they are not fully compliant.
This was the foundation for the discussion at the March 2018 executive luncheon, “Transforming Your Regulatory Response: Adaptable, Accessible and at Scale”, held in collaboration with Hitachi Vantara, Gammer Group and Innovatus Media.
Moderated by Todd Whaley, ANZ Services Director, Hitachi Vantara, the luncheon provided a forum for the cross-pollination of ideas from business- and technology-focused participants around the future of compliance and how organisations should be approaching regulatory change.