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CCR2 GDPR


GDPR: 10 questions companies are still asking


GDPR is coming whether the industry is ready or not, so now is the time to prepare


Jon Rushton Director of commercial product, global business services, Bottomline Technologies JRushton@bottomline.com


By now, everyone has heard of GDPR (the General Data Protection Regulations) – the aim of which is to harmonise regulation of data across the EU, and give control back to citizens over the collection, storage, and use of their personal data. It updates many aspects of previous


legislation, and includes new concepts like penalties, specific protection for children, and data portability. Last February, GDPR: Report showed that,


whilst 92% of businesses thought GDPR to be applicable to their business, 62% had not put plans in place. This January, with only


five months to go, Ernst & Young confirmed that only 33% of respondents had a GDPR plan, and another third were not even familiar with GDPR; a concerning statistic at this late stage. Speaking to companies, it appears that


there is still an underlying, fundamental lack of understanding.


Are we really affected? Yes. Ready or not, the GDPR is going to arrive on 25 May 2018. Regardless of size or turnover, companies will be impacted if they store data on any


natural person or ‘data subject’, such as customers or employees.


What if I do nothing? GDPR is about respecting the right of individuals. The flagrant ignorance of an individual’s rights has the potential to incur eye-watering fines: up to €20m or 4% of turnover, whichever is greater.


What data applies? The GDPR applies to any structured (system-held) or unstructured data (e-mails, printed documents, spreadsheets) associated


GDPR is about respecting the right of individuals. The flagrant ignorance of an individual’s rights has the potential to incur eye-watering fines: up to €20m or 4% of turnover, whichever is greater


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www.CCRMagazine.com


March 2018


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