Intelligent CIO Europe Issue 63 - Page 28

Transparency was the top priority for consumers ( 39 %) to trust companies . privacy drives business value across sales , security , operations and most importantly , trust .”
Costs of data localisation and greater trust in global providers organisations are getting benefits estimated to be 1.8 times spending and 94 % of all respondents indicated they believe the benefits of privacy outweigh the costs overall .
With privacy as a critical business priority , more organisations recognise that everyone across their organisation plays a vital role in protecting data . This year , 95 % of respondents said that ‘ all of their employees ’ need to know how to protect data privacy .
“ An organisation ’ s approach to privacy impacts more than compliance ,” said Dev Stahlkopf , Cisco Executive Vice President and Chief Legal Officer . “ Investment in
Privacy legislation plays an important role in enabling governments to hold organisations accountable for how they manage personal data , and 157 countries ( up from 145 last year ) now have privacy laws in place . Even though complying with these laws involves significant effort and cost , 79 % of all corporate respondents said privacy laws have had a positive impact .
Although 88 % of respondents believe their data would be safer if stored only within their country or region , research indicates this does not hold up once costs , security and other trade-offs are considered . Remarkably , 90 % also said that a global provider , operating at scale , can better protect the data compared to local providers . p
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