The regulatory environment is a complex one that impacts all facets of a business. And if dealing with the continually evolving South African compliance landscape is not challenging enough, companies must also keep in mind new EU regulations that can also affect them even if they do not have operations there.
Every company, regardless of industry, uses data to improve engagement, enhance business processes, drive product innovation, and differentiate itself in a competitive market. As such, data must be managed as the mission-critical asset it is. This extends to policies, stewardship , and how data is used strategically.that the cost of data-quality monitoring, remediation, and maintaining governance can account for almost 8% of IT spending.
For local companies, it is therefore imperative to understand what the regulatory environment in the EU is for their customers who operate in those countries. Even if they use a supplier or vendor that works in the EU, their local data practices must reflect adherence to requirements there. Aligning the business with IT in this regard is not without its complexities.
However, it brings with it the need to with the cloud is quicker, less costly, and does not require investing in infrastructure or storage. Migration to the cloud means data is always accessible from a hybrid workforce. But it also means that compliance with the laws of the country in which the data is residing and where the employees or customers are accessing it must be adhered to.
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