Are you worried about GDPR?
If the answer is no then take a look at this recent article
When the new GDPR regulations come into force in just one years time the maximum penalty that can be levied for major breaches in Data Compliance, with regard to consumer data, increases from 500k Euro to 20m Euro, or 4% of a companies global turnover, whichever is greater.
Don’t imagine that the Information Commissioners Office (ICO) will only be going after the “big boys” either! They are actively prosecuting companies, both private sector and 3rd sector, of all sizes and shapes.
The ICO have already started flexing their muscles in a bid to make businesses sit up and take note of the impending changes. In the last few months they have fined 13 charities for breaches of the current Data Protection laws, although arguably the fines imposed were very lenient compared to the breaches in question.
It is estimated that 1 in 4 UK businesses have made no preparations for the new GDPR legislation coming into force in May next year. The majority of customers hold customers personal data unless they are purely a B2B businesses.
Is your business one of these?
If you retain customer data (as opposed to business data) then you need to be able to demonstrate that you hold, manage and use this data in ways that comply with the new regulations.Take a moment to think about how many places your company stores customer data. It could be in a marketing data base, a CRM system, old order books, your accounts software, EPOS systems or even your Property Management System. Typically businesses we are working with store data in around 6-8 different places. Many times this data is duplicated across an organisation with no holistic overview of its true nature and value.
Under the revised GDPR regulations, like the current ones, you must be able to give your customer access to all of the data you hold about them. Would you be able to do this now let alone next year?
In partnership with Data First Intelligence, DRG Consulting is able to offer full GDPR audit and compliance services as well as working with you to ensure that, going forward, you stay on the right side of the law when it comes to Data Compliance.
Please get in touch with us through email@example.com to discuss this if you feel you may be at risk.