How General Data Protection Regulation Could Affect your Business
On November 1, 2017, The Circuit’s monthly Breakfast Bytes series covered the General Data Protection Regulation (GDPR). The Circuit is a Cincinnati-based Technology Community Interest Group. You can read more about the Circuit here.
The GDPR Essentials
- Enforcement begins May 25, 2018.
- Applies to all companies who control or process personal data of EU residents
- Stiff penalties for non-compliance. The larger of four percent of the organization’s total annual worldwide revenue or 20 million euros.
- 72 hour time limit for breach notification.
- Compliance with the regulation through Privacy Impact Assessments.
Why GDPR Could Benefit Your Company
While most see GDPR as another regulation that their organization is going to have to comply with it is possible that those organizations who embrace GDPR will be able to use that as a differentiator amongst competitors. Breaches are all too familiar in today’s world, and customers are increasingly more concerned with protecting their data and information.
How Barnes Dennig can Help
Your organization may be just getting started or you may already have a GDPR program in place. Here is an abbreviated list of the services that Barnes Dennig can provide:
- Readiness Assessment – understanding the risks and assessing GDPR’s impact
- Planning – evaluating existing privacy policies and capabilities and identifying gaps in compliance
- Implementation – Remediating gaps in compliance and executing a privacy program
- Monitoring – ongoing compliance to drive continued accountability
- Provide SOC + GDPR reports for your B2B customers
If you have questions regarding GDPR, its impact on your organization, or assessing compliance with GDPR, send us a quick message on our website, or call 513-241-8313.