Mid-2022 Research from CYTRIO Shows Most Companies Remain Exposed to CCPA and GDPR Compliance Fines

BOSTON - July 26, 2022 - PRLog -- CYTRIO (https://cytrio.com/), a next-generation data privacy compliance company, has published the findings from the largest research in the market to-date 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/)). The research indicates that as of June 30, 2022, 91% of companies across all verticals, states, and business size that must comply with CCPA are still not prepared to meet the CCPA privacy rights compliance requirements. Further, 94% of companies that must comply with GDPR are ill prepared to meet the GDPR privacy rights compliance requirements.

"The majority of companies that must meet CCPA, CPRA, and GDPR compliance have a long way to go, and with enforcements looming, many are exposed to compliance enforcement fines and private-right of-action," said Vijay Basani (https://www.linkedin.com/in/vijaybasani/), founder and CEO of CYTRIO. "Through our ongoing research, we aim to educate the market on the importance of data privacy rights compliance, the need to enable consumers to easily exercise their data privacy rights, and how companies can build trust with their customers leveraging automated Data Subject Access Request (DSAR) submission and response solutions."

During Q2 2022, CYTRIO researched 1,525 companies, bringing the total number of U.S. mid to large companies with revenues from $25 million to $5+ billion researched to 8,270 since Q3 2021. CYTRIO's Q1 research (https://cytrio.com/90-of-companies-unprepared-for-ccpa-co...) found 90% of companies were not fully compliant with CCPA and CPRA DSAR requirements and 95% of companies were using error prone and time consuming manual processes for GDPR compliance.

Data privacy rights are becoming more urgent as the expansive CPRA that goes into effect on January 1, 2023 requires companies to deploy an effective and scalable CCPA compliance management solution.

CYTRIO will be sharing the latest research findings along with a panel discussion on the American Data Privacy and Protection Act (ADPPA (https://cytrio.com/the-american-data-privacy-and-protection-act-the-good-and-the-bad/)) and CCPA with data privacy industry experts Michelle Finneran Dennedy (https://www.linkedin.com/in/michelledennedy/), CEO of PrivacyCode, Inc. and Divya Sridhar (https://www.linkedin.com/in/divya-s-sridhar/), Senior Director at Data Protection Policy on Thursday, July 28, 2022. To learn more, register for the webinar, "The Hidden Truth about Data Privacy Compliance Preparedness: Are you Ready for CCPA and GDPR?" at:

https://cytrio.com/webinar/the-hidden-truth-about-data-privacy-compiance-preparedness/

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