General Data Protection Regulation (GDPR) came into effect on May 25, 2018, ushering in the most stringent data protection rules the United Kingdom and Europe have ever seen.
Yet, five months in, reports indicate that less than half of all businesses worldwide are in compliance and one in five may never be.
According to an interview, European Data Protection Supervisor Giovanni Buttarelli is expecting the first fines to be levied against companies breaching GDPR by the end of 2018. Sanctions are expected to be imposed in many European Union countries, which will hit private and public organizations.
With GDPR in effect, people are exercising their rights more than ever. Regulators are flooded with breach notifications, and hence are looking more closely at businesses consistently failing to meet obligations.
GDPR affects not only European countries, but companies in the United States with clients from the EU, and those with dual citizenships. Given the increasingly stringent rules and the public’s demand for data privacy, companies should pay close attention to these rules.
GDPR Rules in Focus
The 2018 GDPR Compliance Report finds that among the eleven chapters making up the GDPR rules, organizations are most focused on the rights of the data subject, which is the core of GDPR regulations to protect the EU citizens’ data privacy.
In addition, 53% of the participants in the survey ranked the right to be forgotten and erasure (article 17), and Secure Processing of Personal Data (article 30 and article 5), as the highest concerns. This is likely because these articles make it essential to keep track of the personal data life cycle, which many organizations do not currently do. As a result, organizations may have to build new IT systems (or re-design their current systems), and put in new procedures to ensure compliance.
Reporting On GDPR Compliance
The first step for reporting on GDPR compliance is ensuring accurate records on IT assets. The report provides an overview of all the places where customer data may be stored – be it physical locations, the cloud, or individual endpoints. While most organizations store GDPR relevant data on-premises (41%), about one-third of organizations (35%) store data in the cloud or hybrid environments, making control over data challenging.
GDPR Compliance – A Continuous Journey
Complying with GDPR is a continuous process and companies must invest in more resources to ensure that they are always GDPR-compliant. Companies should build a GDPR budget, which includes costs associated with IT, legal issues and cybersecurity protections.
Mid-market enterprises, which tend to struggle with budget, should look for an automated solution that ensures systems comply with GDPR security and privacy requirements – and do so cost-effectively.
GDPR compliance can dramatically reduce data breaches, and these when made public lead to loss of business with clients viewing your organization as untrustworthy and a potential liability. On the same note, embracing and investing in GDPR compliance helps organizations improve productivity and data management. While GDPR compliance costs money initially, GDPR has the potential to reduce data management costs as it facilitates the identification of redundant data, which can then be eliminated. using your clients’ data responsibly establishes trust, and ultimately brings value to your business.
How Kaseya Can Help
Although GDPR Compliance may appear daunting, difficult to understand or hard to implement Kaseya helps organizations understand, plan and build GDPR compliance strategies with ease.
Kaseya Compliance Manager takes the complexity out of GDPR and enables you to demonstrate ongoing compliance.
- It scans your network regularly to ensure that GDPR requirements are being met.
- It creates policies, standardizes processes and manages exceptions to make passing GDPR audits a breeze
- It automates the generation of GDPR documentation and reports to provide evidence of compliance.
Learn more about how the Kaseya Compliance Manager can help your organization achieve compliance and avoid GDPR fines here.
Download the whitepaper GDPR Compliance: 10 Actions To Take Today To Improve GDPR Readiness here.