Unless you’ve been lost in the Himalayas, you’ve probably heard about the General Data Protection Regulation (GDPR), a new set of privacy regulations that will go into effect on May 25th. Driving a global change, GDPR presents significant policy updates to the practices in which organizations worldwide handle and secure personal data.
Is your business prepared for GDPR? Here are a few questions to consider:
- Do you understand the impact of GDPR, and risks of non-compliance?
- Do you recognize how GDPR applies to the way your business manages customer information?
- Do you have a GDPR-compliant document management solution in place?
If the answer is no, you’re not alone. According to Capgemini’s new report, 85% of businesses in Europe and the U.S. are likely to miss out on the GDPR deadline.
But it’s not too late! Here are 5 quick facts you need to know to ensure your business is compliant with the new regulations of GDPR:
1. GDPR represents a set of privacy regulations that strengthen and expand the protection of personal customer information.
2. Implemented by the European Union (EU), GDPR has a global impact, affecting companies around the world, not just in the EU.
3. Beyond new responsibilities for businesses, GDPR defines new rights for individuals including more involvement with the information your business manages.
4. Non-compliance now carries more serious risk ranging from mandatory periodic audits to fines in the tens of millions of euros.
5. Implementing an Enterprise Content Management solution can help your business reach GDPR compliance with enhanced document security.
Get ready to tighten up policies and procedures so your business meets the GDPR requirements! Whether you operate in the European Union, or work with an organization that does, GDPR will have an effect on the processes in which you access, share, and protect business data.
Learn more about what information needs to be protected, and how to prepare with award-winning Enterprise Content Management solutions that support GDPR compliance. Visit http://info.square-9.com/gdpr-compliance to discover everything you need to know to stay clear of violations!