Execute a GDPR compliance action plan
The risks and benefits of GDPR are real
Organizations doing business with or in the European Union, should be concerned with the General Data Protection Regulation (GDPR). However, organizations need to be careful not to define this new privacy law too narrowly or neglect the urgent need for compliance.
A staggering 80% of companies are expected not to comply with the GDPR in 2018.1 Wherever companies may be on the compliance journey, it's critical to meet and maintain compliance.
The GDPR is here and companies must consider the far-reaching impact on business. The ripple effect of the GDPR is felt across the entire organization, not only compliance, but also IT, records management, marketing, human resources and finance.
EIM and security solutions for data compliance
Keeping pace with the evolving and far-reaching impact of the GDPR will carry long-term benefits. Leveraging the power of Enterprise Information Management (EIM) technologies ensures organizations can design a robust information governance strategy.
IDC believes that to achieve compliance, organizations must invest in the right technology in key areas. Read the IDC report, The Role of Technology in Your GDPR Strategy, to discover:
1. Locate personal information with data discovery and take action.
2. Protect and govern personal information for data minimization through Enterprise Content Management (ECM), Records Management and extended ECM to applications such as SAP®.
3. Preserve and provide controlled access by archiving data and content by retiring legacy applications.
Locating personal information or data discovery is a critical step to ensuring data privacy compliance, such as the GDPR, especially as estimates suggest that up to 60% of organizations don’t know where their data is stored.3 Simplify this daunting process by conducting data discovery, data mapping and analysis with a team of experts to build your GDPR action plan.
According to a Ponemon Institute data breach study, organizations take about 191 days to identify a security breach.2 With the GDPR upon us, learn how you can comply with the 72-hour data breach reporting requirement.
- 1 Forrester. Predictions 2018: A year of Reckoning. 2017.
- 2 Ponemon Institute. 2017 Cost of Data Breach Study. June 2017.
- 3 Raywood, Dan. Infosecurity Magazine. GDPR - Companies Unprepared, Don't Know Where Data Is. May 24, 2017.