Before GDPR, businesses in the UK ran under the Data Protection Act 1998. As we entered this digital era, there was a radical change in the magnitude, types and the rate at which data was being produced. Many discussions were going on in the EU for the past few years regarding the implementation of a new set of rules to better control the flow of data in this new age of technology.
European Parliament and the Council formally adopted GDPR in April 2016. It was published in the Official Journal on 4th May 2016 and came into force on 24th May 2016.
There’s was a two year implementation period before it came into effect. From 25th May 2018, it became mandatory for all businesses to comply with the provisions of GDPR.
Stakes are high
Previously, with the Data Protection Act 1998, a monetary penalty was a maximum of £500K. Under EU-GDPR, a potential amount that a data protection supervisory authority may impose was increased substantially. A maximum fine of up to €20m or 4% of the total worldwide annual turnover of the preceding financial year, whichever is higher will be imposed on the organizations that don’t follow the rules.
Individuals also have the right to claim for any damages that they receive due violation of the GDPR.
Businesses must understand all new and enhanced regulations and make sure their data management practices obey these new guidelines.
If you are having trouble complying with the EU-GDPR guidelines, this article will be a lifesaver for you. The following steps will help you to not only comply with those guidelines but turn them into a competitive advantage.
The EU-GDPR is an opportunity for all businesses to discipline their data processing, security, and user privacy. To begin with these compliance exercises you need to have a thorough understanding of the data in your organization. It is vital for compliance, that you are well aware of what kind of information you process and control, how you collect it, where you store it and what you use it for.
Once you have the understanding of all that, you need to document everything. Document all the data around the company and how you process it. When the deadline comes and you are not ready, at least you can you show the data regulators where you are in the compliance process.
The most overlooked factor about GDPR is the potential for a competitive advantage. You should GDPR as an opportunity to tell your customers what you are doing about data privacy and compliance. Instead of focussing on the consequences and penalties of non-compliance, you need to focus your energy on building trust. Make sure your customers are confident in your ability to comply with the guidelines.
You can expect a return on investment with GDPR compliance. Studies have shown that about 30-40% of an organization’s data is outdated and immaterial. All these organizations are spending a shit ton of money on storage of the data that they don’t even require or use. Therefore, GDPR provides an opportunity to clear out the mess.
Use YourSafeHub GDPR Edition for request management
According to ICO “You must act upon the request without undue delay and at the latest within one month of receipt. You should calculate the time limit from the day after you receive the request (whether the day after is a working day or not) until the corresponding calendar date in the next month.” Handling all these requests within due deadlines is very difficult. Any kind of delay can invite huge penalties which can be easily avoided.
YourSafeHub provides you with:
- An easy to use subject access request management system.
- It allows your customers to file a subject access request with the company instantly with a few simple steps.
- YourSafeHub categorize these subject access requests on the basis of urgency, directly relating to ICO deadlines.
- It provides you with an interactive request management system to manage these requests properly.
- It regularly notifies and alerts you about the deadlines.
Take a sequenced approach to compliance:
- Install a guidance commission in your organization.
- Employ a Data Protection Officer (DPO).
- Educate your employees on how to comply with the guidelines.
- Use YourSafeHub GDPR edition in your organization to handle subject access requests.
- Use this opportunity to build trust with your customers.
In the end, trust is all that matters. When we pack our bags and go home, we become data subjects ourselves. Treat your customers the same way you want to be treated.