WTS Technologies - What is GDPR and how does it affect my business?

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What is GDPR and how does it affect my business?

GDPR is an EU law on data protection and privacy for all individuals and businesses within the European Union and economic area. It provides citizens with a greater level of control over their personal data; for example credit cards, photos, and other confidential information. It is the most important change in data regulation for over 20 years. If a data breach occurs you must now inform the individuals as quickly as possible.

What is GDPR and how does it affect my business?

GDPR is an EU law on data protection and privacy for all individuals and businesses within the European Union and economic area. It provides citizens with a greater level of control over their personal data; for example credit cards, photos, and other confidential information. It is the most important change in data regulation for over 20 years. If a data breach occurs you must now inform the individuals as quickly as possible.

The law has been in place since 25th May 2018, it now means you and your business could be fined if you don’t take measures to improve your data security and company policy. Fines of up to 4%, or more, of your annual global turnover could be taken from you, all dependent on the nature of your infringement.

What do you need to do?

  • 1. Find the data: It could be documents, emails, files, hard copies, messages, texts etc. These all need reorganising and regulating.
  • 2. Take required action: Make sure you file things safely, delete emails that you no longer require, lock things away, secure your website, and speak to professionals in this field.
  • 3. Apply the policies: Consider how long have we had this data? Do we still need it? How are we storing it? Make space for new data.
  • 4. Secure your business: Cyber security is so important, your data needs backing up, you should monitor your work, train your employees, and enable web/spam filters etc. Speak to our team about how to secure your data.
  • 5. Reporting on your safety: You need to be able to show the regulators what action you have taken, if you can prove an effort has been made you will be in a better position than if you have done nothing. If anything was accessed by a scammer then at least you have tools to show what you have been doing to diminish the problem.

Benefits of GDPR

This regulation will enhance your security, in a world where no one can take risks, especially on the internet.

You will be able to improve your data management by minimising the information you hold, and deleting obsolete data will make relevant information all that more accessible.

With a more efficient organisational structure, you will increase your marketing return on investment because you will have an improved database with relevant leads and people interested in your business.

In making these changes you can show clients you care about their privacy and safety meaning you will boost your audience loyalty and trust.

You will be part of a new business culture caring about human privacy and contributing to the community. This will build up a trust in your brand and help you to sustain yourself and others.

Problems with GDPR

Different EU countries will have different enforcement procedures depending on their state, laws and guidelines.

Large companies will be able to distribute the workload involved, whereas smaller companies could be left behind without the help of services to point them in the right direction.

There will still be some uncontrolled personal data on the internet which could confuse things.

The future with GDPR

This new law will make some very significant changes to the way the business world works in the European part of our world. We will still have to implement it in the United Kingdom, even when we leave the EU, because it was implemented when we were still in the European Union. The law will probably become implemented into UK law.

The main point of GDPR is that if a data breach occurs you can actively explain that the business has done everything in its power to stop this from being a possibility.