Is your business ready to meet the new GDPR (General Data Protection Regulation) framework?
As GDPR is a legal compliance framework, which will be enforced from Friday 25th May, this brings many important changes related to data protection. These relate to how businesses and public sector organisations in the UK and worldwide, need to ensure they are legally compliant with all requirements. The framework also provides a clear definition of the consequences of falling short of GDPR. You can find more information on GDPR and how it affects your business here.
How can you make your business ready for GDPR?
The starting point is to audit, identify and understand the data you hold, along with how it is used, processed and protected. In order to achieve this, ask yourself the following questions below:
- What personally identifiable data is held by your business?
- How does your business use the data held?
- What policies (legal, technical, procedural) do you have in place to protect data?
- Have you identified and assessed the privacy risks posed?
- Have you incorporated privacy into your business processes to minimise risks?
- What have you done to raise awareness of GDPR amongst your employees and clients?
- Have you put into place any accountability and governance measures?
- Have you nominated a DPO (Data Protection Officer) to oversee GDPR compliance?
From the questions above, you can start to understand and document how your data is used, stored and protected. This will assist you in developing a tailored approach for your business to meet the requirements of GDPR. In addition, this will also assist in identifying and addressing any potential compliance issues, as well as delivering best practice.
I cannot state how important it is for businesses to ensure they are compliant with the GDPR framework. With cyber and data security under the conscious spotlight today and in the future, data breaches carry significant penalties under GDPR, including up to 4% of a business’s total revenue. For businesses of all sizes, the cost of a data breach under GDPR has the potential to be significantly crippling, both from a financial and branding perspective. Therefore it is vital that your business is GDPR compliance, before it is too late.
There is plenty of information and help available out there, so there are no excuses, to not be ready for GDPR.
Time is running out fast, so be prepared!
More information is available by clicking on the links below: