BOSTON
—
Feb.
15,
2023
— CYTRIO,
a
next-generation
data
privacy
compliance
company,
released
its
latest
research
report
from
Q4
2022
on
companies’
preparedness
to
comply
with
the
California
Consumer
Privacy
Act
(CCPA),
California
Privacy
Rights
Act
(CPRA),
and
the
European
Union’s
General
Data
Protection
Regulation
(GDPR).
The
fifth
report
shows
that
as
of
December
31,
2022,
92%
of
companies
across
all
verticals,
states,
and
business
sizes
are
still
unprepared
for
CCPA
and
CPRA,
and
91%
are
unprepared
for
GDPR,
using
time
consuming
and
error
prone
manual
processes.
CPRA
and
employees’
rights
to
exercise
data
privacy
went
into
effect
on
January
1,
2023,
requiring
companies
to
deploy
a
CCPA/CPRA
and
GDPR
compliance
management
solution
to
avoid
fines
and
penalties.
“The
requirements
that
companies
are
facing
today
related
to
data
privacy
regulations
are
steadily
increasing,”
said Vijay
Basani,
founder
and
CEO
of
CYTRIO.
“As
the
California
Privacy
Protection
Agency
(CPPA)
turns
its
attention
to
CPRA
enforcement,
we
will
see
a
significant
increase
in
enforcement
actions.
Additionally,
as
was
the
case
with
GDPR,
media
coverage
of
increasingly
higher
numbers
of
enforcement
actions
will
educate
consumers
regarding
their
data
privacy
rights
resulting
in
consumer
requests
under
CPRA.
Companies
need
to
act
now
to
implement
solutions
to
comply
with
CCPA,
GDPR,
and
other
data
privacy
regulations.”
GDPR
continues
to
be
actively
enforced
with
fines
totaling
in
excess
of
$2.5
billion
and
total
number
of
fines
under
GDPR
reaching
1,462
as
of
the
end
of
Q4
2022.
Key
findings
of
the
research
showed
53.2%
of
companies
stated
they
need
to
comply
with
CCPA
but
do
not
provide
a
mechanism
for
consumers
to
exercise
their
data
privacy
rights.
Further,
38.6%
of
companies
are
using
expensive
and
error
prone
manual
processes.
Four
percent
of
companies
that
were
using
manual
processes
in
Q1
2022
moved
to
compliance
automation
solutions,
while
11%
of
non-compliant
companies
moved
to
a
manual
process
to
comply
with
CCPA
by
Q4
2022,
indicating
companies
are
slowly
moving
up
the
CCPA/GDPR
compliance
maturity
curve.
During
Q4
2022,
CYTRIO
researched
an
additional
1,521
U.S.
mid
to
large
companies
with
revenues
from
$25
million
to
$5+
billion,
bringing
the
total
number
of
companies
researched
to
11,358
over
five
quarters.
CYTRIO
continued
looking
for
trends
among
companies
that
were
either
non-compliant
or
partially
compliant
by
comparing
its
compliance
status
to
previous
quarters.
This
year,
data
privacy
regulations
go
into
effect
in
Virginia,
Colorado,
Utah,
and
Connecticut,
while
several
other
states
are
expected
to
approve
a
data
privacy
regulation.
After
Q3
2022
saw
the
first
enforcement
action
under
CCPA
with Sephora
being
fined
$1.2
million for
violating
the
Do
Not
Sell
My
Information
provision,
last
month,
California
Attorney
General
Rob
Bonta announced a
new
enforcement
sweep
aimed
at
businesses
with
mobile
apps
and
others
that
fail
to
comply
with
CCPA.
To
view
an
infographic
summarizing
CYTRIO’s
research
findings,
visit:
https://cytrio.com/wp-content/uploads/2023/02/CYTRIO-2022-Q4-Infographic.png
To
access
the
full
findings
of
CYTRIO’s
most
recent
data
privacy
research,
go
to:
https://cytrio.com/ccpa-research-report-q4-2022/
About
CYTRIO
CYTRIO’s
software-as-a-service
(SaaS)
data
privacy
compliance
management
platform
helps
organizations
comply
with
data
privacy
regulations
such
as
GDPR,
CCPA,
CPRA,
VCDPA,
CPA,
and
others.
The
company
offers
an
all-in-one
solution
built
on
automation,
AI-led
data
discovery,
and
automated
response
workflows.
CYTRIO’s
solutions
are
simple
to
deploy,
deliver
value
in
the
first
hour,
and
do
not
require
dedicated
privacy
teams
to
manage.
Learn
more
at www.cytrio.com and
follow
on LinkedIn and Twitter.
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