Enterprises struggle with continuous data compliance
Let’s imagine that we’re driving along a road. There’s a signpost up ahead: Speed Limit 60 km/h. Our vehicle has no speedometer. We try to gauge our speed by looking out the window at the terrain. We want to follow the law in good faith. We see another signpost: Speed 30. Is it miles-per-hour, or kilometers-per-hour? More signposts appear with increasing frequency. The inability to gauge our speed and the vehicles being pulled over for violations makes us anxious. The signposts, while necessary, distract us from the purpose of our journey and the progress we’re making.
Data regulations impact enterprises across regions and borders and industries. But what is data? Is it facts and statistics or things known or binary bits of information? Data means different things to different regulators in different spaces in different parts of the world. Data does not naturally conform to jurisdictional boundaries. It can be produced anywhere, transported anywhere, stored anywhere, and retrieved from anywhere.
This arbitrary and unstructured nature of data fosters regulatory ambiguity. The most ardent and disciplined enterprises struggle to gauge their compliance, like being on the road without a speedometer.
Data regulations are increasing at an alarming pace. The cost of compliance is eroding revenue and penalties for non-compliance increase with every headline. Enterprises with the best of intentions find themselves stuck in this regulatory forest, unable to adapt, adjust, or innovate. Risk and compliance departments are taking larger roles in gatekeeping solutions from entering the market.
Next generation data services are now a tug-of-war between risk aversion and value actualization. New tools are required to break through this logjam and bring innovation back to the technology sector.
Devr provides tools for enterprises to design and orchestrate data privacy, enabling rich open ecosystems for data monetization with continuous compliance.
The solution for enterprises is realizing they don't have to choose between mitigation and innovation. When you find yourself on a road without a speedometer, the first thing you do is build a speedometer. Devr provides the tools and infrastructure for enterprises to build the dynamically responsive gauges necessary for continuous compliance.
As new regulations are introduced, or existing regulations are re-interpreted, new Devr gauges for compliance can be seamlessly introduced within enterprises and across data sharing ecosystems. This reduces the risk of innovation and provides a foundation for growth.
The answer to a fragmented regulatory landscape is a dynamic framework of continuous compliance. Compliance, like data, is open to complex definitions and a variety of interpretations, which must be nuanced for business goals and objectives. Flexible tools are necessary to adapt to each individual enterprise’s unique definition and interpretation of compliance.
Regulations, guidelines, and rules of governance are important for all technology sectors. Having simple tools to seamlessly navigate the regulatory forest allows more enterprises to comply with confidence, and safely extend their collaboration and participation in data sharing ecosystems and data partnerships.
Devr solutions provide enterprises the transparency and real-time confidence necessary for them to focus on their journey, towards their corporate objectives and their collective endeavor.