Unless you live on Mars, you have probably heard of the General Data Protection Regulation (GDPR), a new privacy regulation that went into effect on May 25th, 2018. GDPR brings forth important policy updates to the way organizations across the globe secure and handles personal data.
What, exactly, is GDPR? According to the GDPR directive, personal data is any information related to a person such as a name, a photo, an email address, bank details, updates on social networking websites, location details, medical information, or a computer IP address.
These new regulations make no distinction between personal data about individuals, whether it’s private, public or working roles. In a B2B environment, it’s about individuals interacting and sharing information with each other. People in organizations obviously make the business, but the interactions between the individuals are exactly that – people are people.
Is your organization prepared for GDPR? Here are a few things to consider:
- Understanding the impact of GDPR, and risks of non-compliance
- How GDPR applies to the way businesses manage client information
- The importance of having a GDPR-compliant document management solution
If you ask most SMB owners and leaders, the understanding of these items is not concrete. In fact, in a study of more than 800 IT and business professionals that are responsible for data privacy at companies with European customers, Dell and Dimension Research found that 80% of businesses know few details or nothing about GDPR.
97 percent of companies don’t have a plan to be ready for GDPR.
Does your organization need change? Here are a few things to look for to equip your business with the tools it needs to be compliant with these new regulations
- Implemented by the European Union (EU), GDPR has a global impact, affecting companies around the world, not just in the EU.
- Beyond new responsibilities for businesses, GDPR defines new rights for individuals including more involvement with the information a business manages.
- Non-compliance now carries more serious risk ranging from mandatory periodic audits to fines.
- Implementing an Enterprise Content Management solution can help businesses reach GDPR compliance with enhanced document security.
It’s time to tighten up policies and procedures so your business meets the GDPR requirements. Whether your organization operates in the European Union or works with an organization that does, GDPR will have an effect on the processes in which businesses access, share, and protect business data.
Do you have more questions about what information needs to be protected, and how to prepare? LBMC Technology Solutions provide many options that can help you with your data woes. Please contact us today for more information about GDPR compliance and how technology can help.