A survey by Serasa Experian reveals that 85% of Brazilian companies stated that they are not yet prepared to guarantee the rights and obligations regarding the processing of personal data required by the General Data Protection Law (LGPD), which will come into effect in Brazil in August 2020. Most of them intend to be ready within a year.

The survey was conducted in March of this year and polled executives (managers, directors, and C-level executives) from 508 companies of different sizes and sectors across all regions of the country, operating in both the B2C and B2B segments.

The results also show that 72% of companies with more than 100 employees intend to hire a specialized market expert or a consulting/advisory firm. to comply with the first federal law focused exclusively on data protection.

More impact

“By establishing an unprecedented legal and regulatory framework in Brazil, the LGPD reaffirms the power of data for the strategy of all companies. The research results highlight the importance of companies intensifying their preparation to collect, protect, and use personal information in accordance with the Law for the sake of business continuity,” says Vanessa Butalla, Legal Director of Serasa Experian.

According to the research, with the arrival of the law, almost 73% of companies expect some impact or a very significant impact on their current operations. IT infrastructure.

Another aspect highlighted by the research is the way companies collect data and permissions for the use of personal information from consumers and service users. On average across all segments, companies prefer to invest more in personal relationships (meetings, trade shows, events, etc.) and on social media.

Source: E-Commerce Brazil