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Why UK businesses could face a £1.6bn data compliance cost…and how eXate can help

Updated: Apr 17, 2023

As the UK awaits the outcome from ongoing Brexit negotiations, it appears as though the data compliance industry could be one of the worst hit.

In a recent report by the New Economics Foundation that highlights the economic impact on UK businesses as a result of an EU Data Adequacy decision not being secured, the cost to businesses in ‘pure compliance’ terms could be between £1bn and £1.6bn.

Although the UK has high standards of data protection via the Data Protection Act 2018, which enacted the General Data Protection Regulation (GDPR) in UK law, an EU adequacy decision is not guaranteed.

Achieving compliance across a wealth of new international data privacy laws and regulations is a growing challenge, and one that will continue to cost UK-based companies greatly in terms of time and money. In other words, EU businesses will no longer be able to freely transfer data from the EU to the UK without putting in place their own additional measures, creating additional barriers to inbound data flows from the EU.

Introducing DataSecOps

In the age of data fluidity, eXate is democratising data privacy for organisations by providing a simple embedded solution that automates the technical enforcement of data policies, solving the large-scale challenges created by evolving and complex global data privacy regulations.

eXate’s DataSecOps solution empowers Data, Operations and Cyber teams to work together in a single application. This simplifies the governance of data, enabling a quicker, more effective process that isn’t hindered by cross-border regulations and restrictions.

By allowing data policies to automatically be applied to data, eXate users have reported significant time and cost savings as data protection processes can now be realised in minutes instead of months.

If you are interested in learning more about our revolutionary DataSecOps platform fill out the form below to arrange a demo today!



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