Survey shows “two-thirds of CFOs are oblivious” to the forthcoming GDPR

Blindfolded CFO oblivious to incoming GDPR requirements

69% of CFO’s in Ireland are completely unaware of key data protection regulation (GDPR) that is set to massively affect their organisations, despite the threat of fines amounting to €20,000,000 per organisation – or 4% of global turnover – according to a recent survey commissioned by BT Ireland.


The survey highlights the critical need for organisations to ensure adequate budgets are reserved for GDPR-compliance, a far-reaching new pan-EU regulation which greatly magnifies protection for the personal data of EU citizens.


The findings also noted that, despite the low level of awareness, overall responsibility for data protection and compliance has become an increasing part of the CFO role, with 30% of CFOs having the final sign-off on IT spend versus 26% of Chief Information Officers (CIOs).


Within the articles of GDPR, which was approved in April 2016 with a due date to take effect on May 25th 2018, the question of responsibility for data protection is addressed in terms of an amplified “Data Protection Officer” (DPO) role.


In its newly defined form, the DPO role will combine the need to understand and ensure technical IT processes are adequate for GDPR, with the more traditional ‘compliance officer’ remit, in a much more hybrid role which, the GDPR demands, must include a report to the “very highest level” of the organisation.


Placing data protection firmly at the door of Board-level governance, the GDPR is expected to create a root and branch overhaul of technical systems, policies and supplier relationships, wherever personal data is present in a company’s operational process.


Source :

the challenge - wizuda case studies

The board of a multinational medical device organisation required a secure, cloud-based solution which facilitated virtual board member collaboration on key documents in preparation for monthly board meetings.

The documentation was regularly of a highly commercially sensitive nature, largely relating to ongoing clinical trials, and as such demanded a secure and encrypted platform which could be implemented without the engagement of internal IT resources.

Key challenges that need to be  considered:

  • Geographically dispersed stakeholders
  • Highly commercially sensitive documentation
  • No internal IT involvement
  • Multiple stakeholders required to collaborate on
    single documents
the solution- wizuda case studies

Wizuda MFT gave them a centralised view of all their file transfer activities and a network overview of the data flows. IT now had instantly available reporting and could provide geographic maps and network overviews to senior management of all file transfer activities in the organisation. These could also be categorised in ways that made sense for the business from a priorities perspective. Wizuda’s unique ‘Health Check’ dashboard with automated monitoring and alerts, allowed them to manage all transfer operations proactively and ensured they were always on top of any issues.

From a GDPR compliance perspective, transfers could be linked to Data Protection Impact Assessments were required and data could be anonymised as part of the transfer process. Wizuda MFT enabled them to apply the latest security protocols for file transfers and encrypt data at rest and in transit. Passing cyber-security and GDPR compliance audits became a lot easier.

About Wizuda

Developing IT Solutions to Make Businesses Better

At Wizuda we focus on developing IT solutions which help businesses grow and empower people to collaborate and stay connected securely and compliantly. Specialists in secure data transfer since 2001, all development and support operations are carried out from our two Irish 

offices located in Dublin (Wizuda Headquarters) and Limerick. We pride ourselves in developing software solutions that allow organisations to take back control of their file transfer and data sharing operations, enabling them to operate efficiently, securely and compliantly

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