Although your company isn't located within the EU, it could still be processing personal data for EU citizens. These include processing companies or data controllers that handle billing addresses, delivery addresses, banking online passwords and any other personal data.
Consumers must be informed about what data they provide will be processed in a clear and concise manner. Additionally, they have the option to opt out at any point.
What is GDPR?
As of early 2018 you may have received communications regarding privacy issues from your email provider, bank account and social media platform. The reason for this is that the GDPR law for the European Union came into force in spring 2018, and was in effect until spring of. The GDPR is a law that is tough. It sets out a number of regulations and authority to protect citizens in those in the EU, EEA and other free trade zones.
GDPR specifies three types of objects that deal with, secure and manage the data. This includes data controllers (or data processors) Data subjects, data controllers and data processors. Data controllers are the people who determine why and how personal information is handled including what to do with the data. They include owners of businesses as well as employees. Third parties are data processors. They are responsible for executing certain functions to the controller. Cloud storage platforms like Tresorit or email providers like Proton Mail are examples of the role of data processors.
The data subjects are individuals who are subject to processing of their personal information. The data subjects must read the entire statement and declare their explicit consent through an action to allow the processing of their PII. The need for explicit consent is that it's no longer acceptable to presume consent by the absence of action or silence. The GDPR requires that individuals specifically consent to the use of their data, which means pre-checked boxes and endless pages of legalese do not constitute freely-given explicit and informed consent.
This privacy law also creates an opportunity to obtain a copy of the individual's PII information from any company that holds it in possession. It also mandates that enterprises provide this data in a format that is accessible to other organizations to use. This represents a huge change for most businesses, but it's essential to complying with GDPR.
The data portability feature is a key aspect of GDPR. It means that data can be moved from one business in one place, and not needing to enter it again. This benefits both the company and the customers.
To stay in compliance organizations will have to update their technology platforms and data structures. In the end, all departments in the business will have to collaborate to determine where the majority of company's data is kept and where it's being kept. After that, they'll have the ability to organize this data to make sure that all private information is dealt with appropriately.
What will the GDPR's effect be on my company?
The GDPR is a vast influence on business. The GDPR has been implemented on May 25, 2018, and will bring about a variety of changes in the way businesses deal with gdpr gap analysis personal data. This legislation affects all aspects of the business, from IT as well as marketing. The latest standards offer consumers a higher level of protection from advanced cyberattacks which include ransomware.
Even though GDPR is in force for almost an entire year, a lot of companies are still struggling to comply with its demands. Research shows that only 29 percent of companies are fully compliant with GDPR. That's a huge number so it's not surprising that business owners with small enterprises face the greatest difficulty getting their GDPR in order.
One of the most significant features of GDPR is the fact that it requires all companies to obtain explicit consent from the individual before they process their personal data. The person you add to your database of subscribers without having explicitly opted-in. Also, it is imperative to state clearly what the purpose of your collecting of information and how you intend to use it. You must also be able demonstrate that an individual's consent was obtained and prove that they were conscious of their legal rights.
Additionally, the GDPR mandates that businesses only collect information that is necessary for processing. There is no way to, for example make use of Google Analytics or CCTV to watch over your office when it's not your client or possible client. The GDPR stipulates that any personal data that is collected has to be protected in a process.
In the end, GDPR has forced all businesses to think about how they handle data and their privacy policies. This is especially true to the online retail industry where it has needed to design new protocols and processes for gathering and processing information about customers. Sometimes, this can be a bit difficult, because it has led to some firms having to eliminate certain aspects of their platforms and websites to ensure they are fully compliant with GDPR.
What could I do to help make myself more prepared for GDPR?
The GDPR takes effective on May 25, 2018. The law requires companies to modify their existing system for protecting data to comply. If businesses fail to comply with the standards of the new law will face stiff fines, up 20 million euros or 4 percent of total turnover (whichever is more).
To be ready for GDPR, begin by performing an exhaustive audit of your business's data. Write down all the personal information that you collect, store and manage. Find out how the information is related to the goals stipulated by the GDPR. It will enable you to pinpoint areas that need to change, so you can curate your action plan. Prioritize these tasks based on the potential risk they present and also include estimations of the time, budgets and resources for each.
Take a look at any service or the third party companies that you use. You should ensure that they are compliant with GDPR as well as already have a contract in place with regards to any exchange of data to the EU. Additionally, conduct a risk analysis of any processes or practices which deal with the information of children due to the increased GDPR the requirements for verification of age, consent, and processing.
It is also a good practice to verify that existing consents for the use of personal information meet the requirements of GDPR which demand that consents be precise, specific and easy to withdraw. Additionally, be sure to examine any processes you currently have set up to respond to requests by individuals seeking to exercise their extended rights that now encompass the right to be informed the right to request access as well as the right to rectification; the right to restrict processing; the right to object to automated decision making including profiling and the right to erasure.
Make sure your company is prepared for the possibility of personal data breaches by creating an internal reaction team, and establishing a strategy for educating affected users. Consider appointing the position of Information Security Officer, should you need to. Make sure that your privacy guidelines are up-to-date and that they are available to every person within the company.
What can I do to avoid GDPR impacting my business?
The effect of the GDPR on your business is dependent on your approach to handling personal data. Personal data can be defined as data that could be used to identify the identity of an individual. Names, contact information and financial data, as well as medical records and IP addresses are all included. The data you collect must be in line with the GDPR's requirements if you collect this type of data. Otherwise, you may receive fines or other penalities.
The good news is that you can shield your company from the impact of GDPR through implementing processes to make sure you're in that you are in compliance. First, perform a review of your data to identify what information regarding personal details is available and how that data is being used. After you have done so, you will be able to create an update plan for your privacy practices. It could be necessary to have a double-opt-in for your newsletter. Also, make sure that you're legally able to gather data on individuals, and ensure that all the partners and contractors in your business are in compliance with GDPR.
The process of identifying and deal with security breaches is yet another method you can ensure GDPR does not negatively affect your business. The law stipulates that regulators must be notified within 72 hours after discovering the breach. Therefore, you'll need to establish systems in place that can quickly detect and contain data breaches. It may be necessary to establish a team that will analyze old and new information to ensure compliance with the requirements of GDPR. Add consent forms on your website with clear explanations of how your business uses customer information, establish a procedure to respect withdrawals of consent given by existing customers and also update any relationship with third-party suppliers to ensure compliance with GDPR.
Remember that GDPR affects all companies, and does not limit them to the EU. Any business that handles the personal data of EU citizens or those who reside in the European Economic Area must adhere to its rules.
The GDPR places an emphasis on consumer consent and makes it impossible for firms to cover up terms in long contracts that consumers do not read. Additionally, it will improve your customers' trust to your company. It also encourages you to streamline its data platforms It can also be useful for departments like sales and marketing who can gain a more targeted customers.