January 31, 2011 – Data compliance initiatives can carry a big price tag, though ignoring those efforts can cost millions of dollars more, according to a vendor-sponsored study from the Ponemon Institute.
The institute found that data compliance for financial legislation like Sarbanes-Oxley or health care regulations like HIPAA on average cost multinational corporations $3.5 million, along with the difficulty of implementing those data programs. However, the impact on data disruption, loss of productivity, and fees with noncompliance carried a cost of up to $9.4 million, the study indicated.
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