The new General Data Protection Regulation from the European Commission sets new standards for how organisations will handle personal data in the future.
The GDPR will undeniably affect organisations globally and the impact will be huge. Therefore, whether or not you're a European company, the transition to meet the regulation needs to start now. Here you'll find everything you need to know about the GDPR. What is it? Who will it affect and how? What do you need to do?
COMPLIANCE IS REQUIRED AND THE CLOCK IS TICKING
This is the time left until the EU deadline for compliance
SO WHAT IS THE GDPR?
The General Data Protection Regulation (GDPR) is a binding regulation created by the European Commission. The regulation is replacing current European Union data protection directives and diverse national laws.
By 25th of May 2018, the affected businesses will have to meet several new requirements in relation to how they collect and use the personal data of EU citizens - whether or not the company itself is European.
The GDPR is being introduced in order to strengthen the citizens' right to data protection and - in the longer run - to simplify the processes around this data for the organisations.
Get to know GDPR in a solution brief: What is it, who does it affect and how?
HOW WILL THE
Complying with the GDPR will involve comprehensive changes
Free solution brief
to your policies, processes and maybe even systems.
ARE YOU PROCESSING DATA
OF EUROPEAN CITIZENS ON
BEHALF OF OTHERS?
If yes, you are considered a data processor. Regardless where in the world you are,
you will now have to meet several new requirements under the GDPR:
Systematically document all data processing and provide it to authorities upon request
Report any non-compliant activities and data breach risks to your data controller
Very likely appoint a Data Protection Officer
Suit up for the GDPR
There is a lot of work to be done in order to meet the deadline in 2018.
You need to get going right now! We have created a 5 step guide to get you started.
The foundation for complying with GDPR is that the personal data you collect, store and process is updated, accessible and has clear data governance programs and business rules applied. Master Data Management can help you do this.
Master Data Management
Master Data Management (MDM) is the discipline of managing your master data. By combining MDM software and adopting a MDM business mindset, you can achieve a central, accurate, up-to-date source for all your master data. MDM can be applied to all your data domains such as customer data, employee data and product data. But to achieve the highest value for your business you need to adopt a multidomain approach that combines all of your most critical domains.
OTHER BENEFITS FROM MDM
With Master Data Management you can handle all your data domains in one place. Information derives its own unique benefits from Multidomain Master Data Management. Below are some additional types of data you are able to stay in full control of with the help of MDM. Make sure everyone has access to the right data, in the right place, at the right time. All of this in one platform.
WE HOPE YOU FOUND
THIS INFORMATION HELPFUL
We recommend that you visit our website to learn more about Master Data Management and Stibo Systems solutions.
Questions? Why not drop us a line.