As of May 25, 2018, a European privacy law, General Data Protection Regulation (GDPR), will take effect, and even companies that are not headquartered and located in Europe can face the effects of the new regulations. Any company that has a web presence and that markets products on the Internet will also have some adjustments to make in regard to their customer communications.
GDPR is being seen as the most sweeping privacy regulation of the generation, with estimates at around £350-450 per employee to implement GDPR-necessary compliance precautions. In addition, 77% of organizations plan to spend upwards of $1M on their compliance. It’s not tied to any specific sector or technology and is very far-reaching, and it’s essential that organizations devote time and investments to align to GDPR regulations to avoid incompliance.
GDPR focuses on the idea of privacy as a human right, and the policy focuses mainly on the enhancement of personal privacy rights, the increase in protection for personal data, mandatory breach reporting, and the penalties for non-compliance.
New Signature has dissected the new policies and has developed an innovative strategy to help our customers align with the new policy. Our team in the United Kingdom has developed a readiness assessment to help analyze and identify necessary changes. The GDPR Readiness Assessment is designed to clearly outline the new GDPR obligations in two phases and helps you understand how it affects your business, the impact to your marketing strategy, and what it means for your people, processes and technology.
Phase 1 is a programmatic approach to discover, assess, identify and address your business risk and governance obligations in line with GDPR requirements which will incorporate cyber security best practice such as ISO 27001. Phase 2 is designed to bring together the output from phase 1 and set out how all the various pieces fit together to provide a solution to the GDPR challenges which can be implemented ‘at pace’. This elegant option is supported by an agile cloud technology architecture which can be easily integrated with your existing technology platform.
There is no one certification that will remove liability from GDPR regulations. These regulations are overarching and will require adjustments across the board to communications with customers, data management, advertising, and business operations.
If you are concerned about your readiness for the new GDPR requirements, connect with New Signature today to access guidance and peace of mind.