GDPR to take effect on May 25, 2018. Are you ready?”
General Data Protection Regulations: what does the new EU data protection law mean for small businesses?
The upcoming reform of the EU data protection will mean a major change to how organizations deal with data processing controls. The GDPR is expected to harmonize data protection across all the EU member states and introduce a number of key measures such as mandatory breach disclosure, the right to data portability, and the right to be forgotten. Breaches of data privacy could lead to fines of up to €20 million or 4% of global annual turnover.
But before we get too carried away by the fear of fines – let’s pause and get to terms with how “bad” it really is…
Daunting as it all may seem, small businesses can take comfort in this: as long as they can demonstrate that they’ve put their best foot forward to meet the requirements of GDPR, regulators will work with them on any problems that might arise. This is not about creating a big brother money making machine – this is about making sure that personal data is kept safe.
So getting educated on the matter – and setting in place initiatives to document process is the best approach. Holding your hands over ears and eyes, pretending this is not relevant to you, is the worst.
At QBS we strive to act as your primary advisor when it comes to your business – so GDPR is a topic we should all get familiar with. This is why we have invited Microsoft Technology Director, Ole Kjeldsen, to do a QBS Talk which gives you the Microsoft perspective on GDPR.
Additional sources of information on GDPR: