By Joan Honig, DocuWare: In 2023, data privacy concerns will intensify, and regulatory requirements will follow suit. New state privacy laws that will go into effect in 2023 include California Privacy Rights Act; Virginia Consumer Data Protection Act (VCDPA); Colorado Privacy Act (CPA) and Connecticut Act Concerning Personal Data Privacy and Online Monitoring (CTDPA). The General Data Protection Regulation (GDPR) which protects the data of members of the European Union (EU) still has a global impact because it applies to every company that does business with EU citizens.
In general, all compliance audits are likely to become more rigorous because of the surge in the number of remote workers, the conditions for potential growth in fraud cases and unpredictable revenue growth. Keeping up with these changes can be daunting. However, it’s much easier to comply if you’ve built a flexible foundation that easily adjusts to new regulatory requirements. Cloud document management can be a significant contributor to the success of your compliance efforts. If it’s not part of your compliance plan today, there are many reasons why it should be.
The use of cloud technology will continue to be important next year and beyond. It will have a larger role primarily due to the rise in remote work, the need for increased business agility, and the reduced costs associated with cloud solutions.