As privacy regulation becomes a critical driver behind efforts to protect consumer data to avoid fines and penalties, new research highlighting the current trends in CCPA can help drive this effort.
In the first comprehensive privacy rights research study conducted by Dimension Data on behalf of Truyo an IntraEdge product, we surveyed 221 participants responsible for IT, legal, privacy, and compliance professionals that had budgetary or technology making responsibility within their company. In addition, all participants were responsible for data privacy as a significant part of their job at a company with more than 1,000 employees. The study is groundbreaking research highlighting the current trends in CCPA compliance.
Current trends in CCPA compliance according to Truyo
According to research, consumers are actively exercising their rights under CCPA, with 51% of companies receiving over ten requests per week. This data indicates there is a need for automation to alleviate the manual work associated with the increasing number of requests companies receive per week. In fact, 57% of companies said an increase in requests would impact their decision to implement a third-party privacy rights platform provider for CCPA compliance. Other key factors that affect this decision include additional state laws and enforcement deadlines, which signifies privacy compliance is top-of-mind for most.
Of the companies we surveyed, 58% said they offer CCPA privacy rights to all customers than just California residents. With more companies offering privacy rights to consumers, 59% of companies have invested in new tools to address CCPA privacy rights and 64% plan to spend more than $100K on compliance in 2020.
Top requirements when choosing CCPA privacy solutions
This study proves data privacy management is more than just an investment. It is your guide to compliance with CCPA regulation. The research shows, executives prioritize features, automation capability, and cost as the top criteria requirements they are looking for when choosing a CCPA privacy rights solution. Despite the current change with COVID-19, 56% of data privacy professionals are expecting there will be an increase in privacy rights requests, as a result of the pandemic. Automation will continue to be the driving factor behind companies seeking a third-party privacy solution to accept privacy rights requests, an end-to-end solution can benefit these top requirements.
What’s next for CCPA?
December 31, 2020, marks the sunset period for the employee rights exemption, which means employees can exercise their data privacy rights under CCPA. 51% of companies haven’t started employee rights planning yet, but only 15% say they intend to wait until this is a legal requirement under the CCPA.
Learn more about the results from the current trends in CCPA research by Truyo, listen to our webinar on demand: In the Trenches with CCPA: New Research On CCPA Compliance from April 22, 2020.