Intelligent Metadata Enabled Solutions for GDPR
General Data Protection Regulation (GDPR) is fast approaching. Do you think it’s time to prepare now? Explicit consent, 72 hour notification of a data breach, hiring a data protection officer, the right to be forgotten, the right for a copy of personal data, portability of personal information, data privacy protection, and audit trails are all required for compliance.
The bottom line? PwC recommends putting aside four percent of your revenues for fines. Do you think it’s time to prepare now?
Wall Street Journal
The Concept Searching Difference
The European Union, including the UK, will be implementing the complex and far reaching General Data Protection Regulation (GDPR) to protect personal data, and the requirements for organizations doing business in these countries are documented in the regulation. In May of 2018, companies, regardless of where they reside, will need to follow the recommendations or face serious financial repercussions. If you are similar to the 97 percent of companies surveyed by Dell in 2016, you have no current plans to address GDPR.
Find organizationally-defined privacy data, regardless of where it resides, or how it was consumed
Track explicit consent forms for auditing and acceptance purposes*
Proactively identify and protect data breaches in near real time
Review EU-US Privacy Shield, which replaces Safe Harbor, frequently for changes to support GDPR
*Requires a review of existing security policies, and they must be tracked and available on demand. For example, a tick box or attendance at a trade show does not constitute consent under GDPR.
The cost of privacy noncompliance under the GDPR is steep. Most companies are unprepared. Whether or not you do business in the EU or UK, securing privacy data has never been so important, with the increase of data breaches, noncompliance, and ransomware. Putting the business processes in place for GDPR compliance results in protection for all your clients, and ultimately your organization, achieving a significant benefit.