The GDPR is one of the most important privacy laws in the world. Although it regulates data collection and usage in EU countries, it can impact organizations around the world with EU visitors or customers.
Businesses can be hugely affected by non-compliance; it’s more important than ever to assess how you’re collecting, storing and using user data. But how exactly do you implement GDPR compliance, and how exactly does it impact businesses?
That’s what we’ll be exploring today. Read on to learn more about the GDPR standards and how you can implement GDPR compliance. In this blog, we’ll also be exploring how GDPR can impact your business.
A Guide to Implementing GDPR Compliance
Ensuring your business complies with data protection regulations can feel like a daunting task, however, we’re here to simplify the process for you.
First of all, ensure all levels of your organization are aware of GDPR. Make sure you’re monitoring best practices and providing relevant training to employees outlining breach scenarios as well as potential causes for breaches.
It’s also important to ensure employees are confident raising alerts, and that there are clear processes in place for this occurrence.
According to the GDPR, specific organizations should have a data protection officer (DPO). This may include private organizations that process sensitive data, as well as public authorities (with the exception of courts).
To ensure you are GDPR compliant, you need to create a data inventory. Having a clear understanding of the data you collect can help you understand the risks associated with data management.
Create a detailed list of all data types you collect to help you understand all locations where the data is held, whether it be physical or virtual. These lists should be distributed to stakeholders and internal departments to ensure all locations are included.
Once you have created your data inventory, it’s time to evaluate the risk. Compare your lists to the GDPR requirements – are there any gaps? Have you noticed any risks of non-compliance?
This can help you determine what else needs to be done to ensure your business is GDPR compliant. Develop a roadmap that outlines any changes required regarding your processes and systems. This may involve implementing new systems and amending existing processes.
Finally, you should be monitoring and reporting your compliance. Compliance should be built into the design of your business operations if you collect, process or store data. Your DPO should work with the relevant teams to ensure that your organization remains compliant and up-to-date with any changes to the regulation.
How GDPR Impacts Your Business
GDPR is much more than an IT issue – it’s something that impacts businesses around the world. It applies to all businesses established in the EU, as well as non-EU established companies. If your business sells goods or services to customers in the EU, then you are subject to GDPR.
First of all, there can be harsh penalties if you are found to be in breach of GDPR. If you are found to be non-compliant, then you could face a fine of up to 4% of your annual global turnover, or $20 million – depending on which is highest.
The EU takes GDPR very seriously. Whether you are a multinational corporation or a small start-up, you need to ensure you are compliant. British Airways, for example, have faced a staggering fine of €200 million for noncompliance due to a data breach in 2018.
Being compliant with GDPR can build trust and transparency with your customers. Being found to be non-compliant, however, can have a negative impact on your reputation.