By Kali Bagary | 15 AUGUST 2017 |

It has been adopted for over a year. It will become regulation in less than a year. It will apply to any entity which holds information on EU citizens, regardless of where the information is held. If your business has not put systems in place to meet these regulations, you WILL face heavy fines, up to 4% of your global turnover. Can your business afford that?

What does this relate to? GDPR – Global Data Protection Regulation, as set out by the EU. What is it all about? Get the facts here.

Anyone who has ever been involved with reviewing company-wide business or system processes knows all too well that; (a) requirements, (b) implementing correct business processes, and (c) ensuring these are supported by a solid technical solution, are three completely different tasks, which may not necessarily be symbiotic.

Now is the latest time you should be getting your GDPR compliance projects started. This month’s blog is about looking at the key 3 elements needed to ensure you are GDPR compliant by May 25, 2018:

  1. REQUIREMENTS: clearly understand the impending regulatory requirements. Start a project specifically targeted at ensuring those regulatory requirements are met – well before the deadline (to allow for thorough testing)
  2. BUSINESS PROCESSES: conduct a thorough review of existing data collection processes and uses. What business processes are currently in place? How is data used? Who sees the data in question? How is it shared? Do different business units share or duplicate data? How is consent managed? Do they meet the upcoming regulations? What needs to be amended / added? How will these changes impact your existing workforce? How / when can these new changes be implemented?
  3. TECHNICAL SOLUTION: Review global business systems. What technical solutions are available to allow easy data retrieval? Where exactly is the data in question stored? Where is data backed up? How many systems share or replicate data? Can data be consolidated for simplified future use? What happens in network downtime – can data be retrieved within 72 hours?

These are a just a few questions our consultants discuss with you when working on regulatory data compliance projects. We’d be delighted to offer you a free consultation on how you can proactively prepare your entity to ensure GDPR compliance – even before you need to be. Simply call us on 01494 546 089 or complete this short contact me now form and we will call you.

Like this blog? Have a look at our other compliance and regulatory related blogs. All dedicated to helping businesses compliant using innovative solutions.

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Our particular expertise is in the financial services and insurance sectors.

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