Published on Oct 27, 2017 at 6:58 am in Blog
The European General Data Protection Regulation (GDPR) takes effect on May 25, 2018, and it aims to create a stronger, harmonized data protection legal framework throughout the European Union, with the aim of giving citizens more control over their personal data, while imposing strict rules on companies who host and process this data.
Despite that fast approaching deadline, a recent survey of 900 business decision makers worldwide shows that 86% remain concerned that a failure to adhere could have a major negative impact on their business. In addition, almost half (47%) fear they won’t meet the requirements of the legislation. Organizations are worried about the significant fines that could be levied, which could be as high as €20 million ($21.5m), or 4% of annual revenue.
Data protection has always been important. Now it’s becoming urgent. We have compiled 10 questions you should be asking to find where your company stands in the process to adapt to the new rules.
And some final advice. Look hard at data protection in your company. The enforcement of the European General Data Protection Regulation from May 2018, coupled with the continued growth in data breaches is driving the adoption of better data protection technology. Data is now the lifeblood of companies: personal data, financial data, intellectual property, all are critical for your organization.
This is driving the need for advanced data security technologies that operate wherever data resides — in storage, in use, via collaboration or analytics, and either inside or outside the traditional organizational perimeter that includes your contact center.
And don’t forget. Get GDPR Ready. We can help. May 2018 is right around the corner.
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