It’s now here and it seems that those four small letters are striking fear into every business and organisation. We decided to take a positive look at GDPR and what it could mean for your bottom line.
GDPR – the low down
The General Data Protection Regulation (GDPR) seeks to ensure that citizens and residents of the EU can control their personal data. It replaces data protection laws and regulations of every EU country. In effect, it levels the playing field and, in most cases, increases the protection afforded to people about who has their data, how it’s used, processed and so on.
It is challenging accepted business practices with some firms having to make big changes to meet the regulations stipulated. And it must be done.
With fines increasing significantly for breaches and non-compliance, no business or organisation can afford not to be GDPR compliant.
GDPR is a welcome and much-needed reminder that compliance only comes with a high level of awareness. It is also only possible with a detailed data management strategy too, two things that have often been left wanting in many organisations and global businesses.
With data scattered across multiple networks, the only way to ‘keep up’ so to speak, is to have a cohesive approach to data management and processing.
Frankly, GDPR should be a win-win situation all round. But what is needed can look and sound overwhelming.
Streamlining data and improving the bottom line
Under GDPR, businesses will need to;
- Identify all the systems used for collecting, processing and managing customer data
- Blend different types of data
- Have an improved understanding of data ownership
- Identify what data is shared outside of the business or organisation
- Maintain data history of a customer and how this is spread over different areas of the business
- Manage different types of consent
- Provide data when the customer requests it
- Create processes and systems for data access, to make changes to it and to delete customer data too
- Have mechanisms and processes in places to report data breaches in a timely manner (as per the rules laid down in GDPR)
From general to business-specific
GDPR applies not just to businesses, but to organisations, charities, community groups – any organisation that collects customer data.
The ‘rule book’ is, on one hand, notoriously tight, the boundaries clearly marked but how you achieve compliance within the boundary is specific to your business.
And that’s why the bottom line of your business is improved. GDPR is forcing you to look at data, the processes, mechanisms and costs associated with managing a bank of information, the majority of which you may not need to maintain or even keep.
For most businesses, this means reducing costs on data processing, storage and management. But the process of getting to this point has, for many, proved to be a painful process.
From the 25th May 2018, as a business, you have no choice. Data processing and sharing will be guided by the EU-wide rulebook known as GDPR. But let’s see how much it does affect your business’s bottom line.
How can we help you?
If you’re in need of assistance with any aspect of ISO or GDPR compliance, here at Synergos we’d be delighted to help. Whether you have questions about the path to compliance or are looking for advice and support to maintain compliance, call 01484 817 444 or Email firstname.lastname@example.org and we’ll be happy to talk it over with you.