Put into effect on May 25, 2018, the General Data Protection Regulation (GDPR) is Europe’s data privacy and security law that imposes obligations on organizations around the world that target or collect data related to people in the EU.
The GDPR levies harsh fines against those who violate its privacy and security standards—potentially up to €20 million ($22.5 million) or 4% of annual global revenue.
Privacy is key to trust. By protecting consumers’ privacy, organizations can boost their current reputation as well as unlock hidden reputational value.
Achieving full GDPR compliance signifies that an organization has achieved a high level of data protection—something consumers can appreciate. This not only enhances consumer trust and loyalty, but unlocks paths to greater value creation and innovation.
Better understanding your company’s data and how it moves throughout your organization can provide a plethora of business benefits: acquiring enhanced insight into your products and services, consolidating data platforms, and allowing for easier reporting and faster and more well-informed decision-making, to name a few.
Show that your organization recognizes privacy as a fundamental human right while helping create an even privacy playing field.
The GDPR compliance process can help you better manage customer and client data storage, review security vulnerabilities, streamline data processing and lifecycle workflows, check up on data hygiene and cleanup, and more.