EU’s General Data Protection Regulation (GDPR) is fast approaching. From May 25 2018, your company not only needs to comply with the new regulation. You also need to make sure your customers keep trusting you with their data. Are you ready?
Increased attention to data protection
The purpose of the GDPR is to ensure a clear and persistent data protection all over EU. From May 25 2018, the data protection regulation will apply to all authorities or companies, that collect or/and analyze data about EU citizens. Many of these obligations require that your company institute new procedures to make sure that you abide by the new rules for protecting personal data.
Microsoft highlights 4 substantial topics for the new regulation:
Enhanced personal privacy rights
With the regulation follows a strengthened data protection and a right to get access and to edit your personal data. Additionally, organizations must document, when and why data is collected.
Mandatory breach reporting
Companies are obligated to report potential data breaches or unauthorized transmission of data to a data protection authorization center. You should report the breach no later than 72 hours.
Increased duty for protecting data
As a company, you need to actively consider and evaluate what risks your stored data are exposed to. Are you implementing appropriate technical and organizational measures to secure the process of handling and storing data?
Significant penalties for non-compliance
The GDPR has attracted media and business interest due to the increased administrative fines. If companies are non-compliant, it can result in fines of €20 million or 4% of annual turnover – whichever is higher.
GDPR compliance gets easier with Microsoft cloud technologies
The fast-approaching regulation has established a number of requirements on how companies should collect, store and process personal information. The GDPR does not decide the specific architecture or technology to store and process data in. However, the right kind of technology can be helpful in getting your company ready for the GDPR.
Microsoft cloud solutions such as Dynamics NAV and Dynamics 365 Business Central are all subject to Microsoft’s Trusted Cloud Principles, which aims to support solutions in accordance with the regulation.
Unfortunately, no ERP system does the job for you. Nevertheless, ERP systems such as Dynamics NAV 2018 and Dynamics 365 Business Central makes the job more doable, as the solutions simplify the journey towards GDPR compliance. Additionally, the solutions can help you identify risk-areas for storing and processing of personal information.
Want to learn more?
Want to learn more about how our solutions support GDPR? Contact us today for a noncommital talk with one of our consultants. We might be helpful in transforming your business.