As a value-added reseller (VAR), managed service provider (MSP) or independent software vendor (ISV), you’re probably aware of the General Data Protection Regulation, or GDPR. It’s meant to protect the data of residents of the European Union (EU), but because of the global nature of data and cloud computing, it’s become the industry standard for anyone collecting personal data.
Although GDPR includes 99 articles setting out the rights of individuals and obligations placed on organizations covered by the regulation, some of its key provisions include:
- Consent of subjects for their data to be processed
- Anonymized data collection
- Providing notifications in case of a data breach
- Safe transfer if moving data across borders
- Certain companies must appoint a data protection officer to handle GDPR compliance
If you haven’t yet thought about GDPR and whether or not your organization is in compliance, consider this fact: More than half (52%) of U.S. businesses have collected the personal data of an EU resident, according to a study by Vanson Bourne & Compuware.
However, this doesn’t need to be an impediment to your business. Rather, it presents a potentially profitable opportunity to help other businesses meet the requirements. Why? Because U.S. companies are projected to spend a total of $41.7 billion to achieve GDPR compliance, and the compound annual growth rate (CAGR) of this business is 5.2% between 2017–2022, according to IDC.
Clearly, GDPR represents huge potential. But how do cloud companies take advantage of it?
GDPR opportunities for VARs and MSPs
Many firms are unaware of how many cloud applications their organizations actually use. According to Symantec, it’s close to 1,000 on average. Because of these firms’ lack of awareness, VARs can position themselves as a single trusted technology provider for all of an organization’s cloud-based applications.
Because GDPR requires organizations to provide highly accurate storage, visibility and monitoring of personal data, MSPs can step in and provide these as a service to clients. Service providers can offer both the infrastructure and the security and data management tools needed to achieve compliance with GDPR.
GDPR opportunities for ISVs
One of the tenets of GDPR is “privacy by design,” which requires data protection to be baked into a system. If you’re an ISV who has created a product to be secure from the get-go, you’ll have an advantage over others who offer security features as an add-on.
You can also help your customers by ensuring your solutions can easily produce reports on how data is used, in case of a GDPR-related request by EU residents.
Business needs spell opportunity
For organizations looking to meet GDPR requirements, you can’t put a price tag on peace of mind. Positioning your business to help your customers meet compliance and take this off of their plates can spell increased revenue in the short-run and confidence in you as a partner in the long run.
Here are the kinds of solutions customers will be looking for to meet GDPR requirements:
- Backup and disaster recovery
- Business applications
- Cloud enablement services
- Communication and collaboration
- Digital marketing
- Data protection and security
We can help you dig into how each of these cloud solution categories can help you take advantage of this burgeoning opportunity in the cloud sphere and become an expert in GDPR. Contact us at email@example.com to get started.
And if you’re already an Ingram Micro Cloud partner, log on to the Marketplace, navigate to the Go-to-Market Hub Insights & Tools section and read the in-depth white paper on the global opportunities around GDPR compliance for VARs, ISVs and MSPs to learn more.