Under Parallel Reality’s governance framework, we consistently review risks and uncertainties and as such we monitor and assess market and legislative developments, which include Brexit.
Parallel Reality is a UK-headquartered business with operations in the UK. Our customers are in this country, and the company is not reliant on labour or product supply from within the EU. As such, the data protection implications of Brexit are relatively minor.
Parallel Reality does not rely on any amount of physical goods, however should this become necessary in the future, we will evaluate critical suppliers in order to mitigate any risk to supply continuity or cost.
We believe that the data protection implications of Brexit will have little impact on the provision of our services to customers. While data can continue to be transferred from the UK to the European Economic Area, we will engage with the small number of customers who will need to implement standard contractual clauses to support data flows. We continue to review regulatory developments and will implement any supplementary measures as the need arises.
We remain cautious while the full implications of Brexit are unclear. We are aware that the potential need to implement a significant volume of legislative change could give rise to short-term market capacity issues across the industry but we believe the company is very well placed to support customers.
We remain committed and look forward to working with customers to mitigate any risk.