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It could pretty much be a concern and a big point of contention in B2B contracts, depending on what you are negotiating and for which industry, especially from a global enterprise perspective. If you are a Canadian company, for example, with employees all over Canada including QC and in UK/EU, a payroll vendor contract should be scrutinized to make sure that the vendor handles personal data of your employees correctly.
In addition to what LC1 said the key here is that in the US, most of the state privacy laws exempt employees or B2B contacts from the scope of those laws protections (California being a notable exception). Those laws primarily apply to consumers.
It is depending on your jurisdiction. California is removing the exemption for PII processed in the commercial and employment context to more closely track GDPR and the UK DPA.
In consumer facing industries (e-commerce, retail), businesses are probably spending more money on outside legal to resolve B2B issues (contracting, diligence, auditing) than B2C because of the ongoing vendor management obligations in both state and international laws. Consumer facing compliance activities, on the other hand (i.e. DSARs and to some extent Privacy policy management) are primarily handled internally with occasional questions going to outside counsel. So while the laws are about protecting consumers ultimately imho these regimes have the most profound impact on B2B relationships.
Businesses have negotiating power. Consumers do not.