The incoming General Data Protection Regulation (GDPR) will transform the way businesses process and manage data, giving more control to citizens and customers as a result. However, the regulation could offer businesses the opportunity to build better customer relationships, streamline IT and improve data management.
GDPR comes into full effect on 25 May 2018 and represents the biggest shift in European data protection law in over twenty years, especially around areas such as user consent (for the collection of data), data privacy and information security.
Many organisations are still unprepared for the changes that GDPR will bring and as such the regulation has been seen as a new law which could negatively impact your business. With the GDPR stipulating the fines to be the greater of €20 million or four percent of annual company turnover for those companies that suffer a data security breach, there is the potential for some smaller companies to go out of business for not complying with the new regulation.
In this new whitepaper, we gather the thoughts of experts from Micro Focus, Burberry, PA Consulting and Auriga Consulting to discover how this new regulation could be a strategic driver for your business going forward.