GDPR – May 25th, 2018 is coming nearer – is your High Tech Company ready?
Are you offering goods or services to people in the EU?
Or do you collect, process, or analyze data tied to residents?
If yes, you need to comply to General Data Protection Regulation (GDPR), even if you are located outside the EU by May 25th, 2018.
GDPR protects all individuals in the European Union (EU), which could include customers, employees, suppliers as well as end-users.
What are the key changes under GDPR?
Under the GDPR, EU residents can expect greater data protection, privacy and control. More specifically, individuals will have the right to access their personal data, correct errors, object to or limit processing, erase, and request an export of their data from companies. Companies, on the other hand, will have increased responsibilities with regards to data protection and privacy, including:
Security and control
Businesses will be required to protect personal data using appropriate security measures, maintain records of data processing and access, and notify authorities of any data breaches.
Organizations will need to provide notice and obtain consent for data collection and processing, disclose the purpose of personal data usage, and define data retention and deletion policies.
Process and people
All companies need to implement processes that ensure compliance with the principles relating to processing of personal data. Employees will need to be trained regularly. Companies will also have to audit and update data policies – and in some cases, appoint a Data Protection Officer.
If you are new to the topic, this article is a great start.
Learn how SAP is getting ready to implement GDPR for the company as well as in its products and services
As a Software company SAP needs to get ready to implement GDPR for the company, as well as implementing the requirements of the GDPR in products and services to best support our customers.
To learn how is SAP addressing GDPR this document.
To learn how SAP is implementing the requirements of the GDPR in its products and services to best support customers read this document.
To learn how SAP solutions and services can help fast-track your high tech business for the digital economy – while addressing GDPR requirements – take a look here.