90% of Companies Unprepared for CCPA Compliance, Says New Research by CYTRIO

BOSTON - April 26, 2022 - PRLog -- CYTRIO (https://cytrio.com/), a next-generation data privacy rights management company, released findings from additional independent research it conducted during Q1 2022 on the state of companies' readiness to comply with the California Consumer Privacy Act (CCPA (https://cytrio.com/solutions/california-consumer-privacy-act-ccpa/)), California Privacy Rights Act (CPRA), and the European Union's General Data Protection Regulation (GDPR (https://cytrio.com/solutions/privacy-rights-management-gdpr/)). As of March 31, 2022, the findings uncovered that 90% of companies are not fully compliant with CCPA and CPRA Data Subject Access Request (DSAR) requirements. Further, 95% of companies are using error prone and time consuming manual processes for GDPR DSAR requirements.

"Our continuous research confirms that first generation privacy rights management solutions have not gained wide adoption due to cost and deployment complexity, resulting in a high percentage of CCPA non-compliance," said Vijay Basani (https://www.linkedin.com/in/vijaybasani/), founder and CEO of CYTRIO. "This problem will become more pronounced as CPRA enforcement takes effect in 2023 with the stringent 12-month lookback. Awareness of their data privacy rights by consumers coupled with the rise of data aggregators is driving an increased number of data requests. As the California Privacy Protection Agency (CPPA) begins active enforcement of CCPA and CPRA, non-compliance to DSAR requests will become cost prohibitive for both medium and large sized companies."

CYTRIO released its inaugural State of CCPA Compliance research results (https://cytrio.com/cytrio-q1-2022-ccpa-compliance-readine...) in January, the largest of its kind, studying 5,175 U.S. companies with revenues ranging from $25 million to more than $5 billion. The findings showed that only 11% of companies were fully meeting CCPA requirements, while 89% of companies were either non-compliant or somewhat compliant. From January to March, CYTRIO researched an additional 1,570 companies for CCPA and GDPR DSAR compliance, bringing the total to 6,745 companies to date.

From Q4 2021 to Q1 2022, the top three most compliant verticals remained the same with Business Services, Retail, and Finance making up 54% of the companies researched. While the top three most compliant states (California, New York, and Texas) remained the same, the total number of companies from those states as a percentage of total companies decreased from 31% to 25%, indicating other states seem to be catching up.

To view the infographic, visit:

https://cytrio.com/wp-content/uploads/2022/04/Infographic-Q1-2022.pdf

To access the full findings of CYTRIO's most recent data privacy research, go to:
https://cytrio.com/ccpa-research-report-q1-2022/

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