GDPR (GENERAL DATA PROTECTION REGULATION) IS THE MOST IMPORTANT CHANGE IN DATA PRIVACY REGULATION IN 20 YEARS.
Legislation has been developed to strengthen and standardise data privacy protection for all residents across the European Union.
Compliance with the GDPR is paramount to anyone doing business in EU countries.
In addition to scaling up the security surrounding customers data, the GDPR stipulates that, in the event of a security breach, customers must be notified within 72 hours. Businesses should have the means to identify potential data risk and be able to scale up technology so that their IT infrastructure adequately protects data. Non-compliance will mean fines of up to 20 million euros or 4% of the company’s revenue (whichever number is greater).
Ingram Micro and HPE can help realise the potential of this opportunity for Partners!
Prior to the 25th May 2018 compliance deadline:
96% of businesses were still non-compliant
80% of organisations weren't ready for the GDPR
Only 23% of survey respondents said they had begun implementation
* Results taken from survey conducted by Dimensional Research and TrustArc on Privacy and the EU GDPR
KEY POINTS TO NOTE WHEN DISCUSSING GDPR WITH YOUR CUSTOMERS AND HOW INGRAM MICRO AND HPE SOLUTIONS CAN HELP ACHIEVE COMPLIANCE:
There’s a good chance GDPR affects you, even though you might not think it does. Most companies have some interaction with European customers even if they don’t have operations there.
Purchase the Right Technology
Many companies will face a rude awakening when they find out the work needed to know what data they have where, and which data is PII. Data profiling and mapping technology are a worthwhile investment.
Build your GDPR Team
A key team member of your GDPR compliance team will be your new Data Protection Officer (DPO). You’ll need many stakeholders working together to achieve compliance and respond to any crises that may arise.
Look for the Opportunity!
This is a major consideration for business and you should look for ancillary benefits, like identifying useful data for big data analytics as well as eliminating useless data. Demonstrating ROI will help get funding for the whole initiative.
Do the best you can
Even if you miss the deadline and are non-compliant in some ways, if you are working diligently toward GDPR compliance, there’s a good chance regulators will take that into account!