As the implementation of the Data Protection and Data Privacy (DPDP) regime progresses, tech firms are facing significant challenges related to data verification and compliance costs, as reported by Tech-Economic Times. A recent survey reveals that nearly 30% of respondents anticipate these new expenses to exceed 10% of their turnover, raising concerns across the industry.
Businesses are particularly concerned about the potential disruption to their operations. Tasks that were previously routine, such as security updates, the introduction of new products, and spam protection, now require explicit consent, adding layers of complexity to daily processes.
As the tech landscape evolves to meet stringent data protection standards, organizations are forced to allocate substantial resources to ensure regulatory compliance. The burden of these expenses could have far-reaching implications on budget allocation and strategic planning within the industry.
Source: Tech-Economic Times