General Data Protection Regulation (GDPR) – What does this mean for your business?
Digitization is rapidly changing the world. On the one hand, it’s making life easier. On the other hand, all this data carries its own risks, and in particular in the area of privacy. That makes it an important issue for the European Union, which is the reason behind the General Data Protection Regulation (GDPR), legislation which affects countless medium-sized companies.
GDPR – what is it and when does this take place?
The General Data Protection Regulation (GDPR) has been compiled to strengthen and standardize the data protection of individuals within the European Union. Many companies will be impacted by the GDPR and that’s why it’s important to be prepared. The legislation is a new legal instrument that was adopted on 27 April 2016 and will be drafted into legislation on 25 May 2018 following a two-year transition period. The GDPR – in contrast to a guideline – does not require further supporting legislation from governments. The law protects and unifies the rights of individuals whose personal data are processed. For example, an individual must be informed in understandable language about what information is collected for which purpose and how long this information is stored. An individual must also be given the opportunity to change or delete his data.
The role of Exact
Are you curious about the measures taken by Exact to prepare our software for the GDPR and points for attention for your company and for your customers? In a world in which applicable legislation is subject to constant changes, we continuously strive to have our solutions meet all relevant legislation and regulations. In this respect, we also adapt, if necessary, our internal procedures and communication. We do so to continue to be compliant with the latest legislation and regulations.
All companies which process, archive, and pass on personal data must be well acquainted with GDPR legislation. This might be relevant, for example, to the personal data of (potential) customers, employees or suppliers. Make sure you draft a data protection policy, and if you already have one, that you review this policy to ensure that it meets the new legislation. As a result of the new legislation, you also need new rules of conduct within your company, and training to ensure that people behave in accordance with the new principles. Finally, ensure that your controller has the correct means of proving company compliance with the GDPR. It will take until May 2018 for the legislation to come into effect, but don’t delay preparations and ensure that your company is ready for the new regulations on time. It is of course important that the solutions you provide to your customer are suitable for GDPR. We have taken care of this for Exact software, but it must also apply to any software you create and deliver to customers. Are personal data recorded and / or processed? Make sure your software is adapted on time so that you and your customers are not faced with surprises when the GDPR legislation goes into effect.
Prepare your customers
GDPR also offers opportunities, especially in the field of helping your customers with additional knowledge and services. Exact Synergy offers rich opportunities to be deployed at customers as an aid to manage the process around the GDPR. In addition, customers will want help with the roll-out of the new functions and possibilities in our and your software.
Follow this link to read the full regulation.