Understanding Your Data – The Foundation for Thriving in Generation Privacy
Today, personal data is owned by whoever collects it. Post GDPR, personal data is owned by the subject. GDPR creates a standardised set of expectations as to how your organisation must manage personal data in this new world.
GDPR has been described by some as being the most significant regulatory framework to hit companies since the Sarbanes-Oxley act. With a stated objective to “give citizens back control of their personal data and to simplify the regulatory environment for business” it will impact every single European individual who has shared their personal data with an organisation and every single organisation that holds information on any European individual.
Data Should Be Your Primary Concern
The legal and operational requirements that GDPR places on companies are wide-ranging and will impact everything from the people employed by the organisation, through to policies, processes and technology. GDPR is clear that individuals have a series of rights when it comes to how their data is collected, stored, used and disposed of by organisations. This means not only do business leaders have a lot to consider in making sure their organisation is ready to fulfil their GDPR obligations, but that if they don’t understand where their data is, they won’t be able to comply.
GDPR is a fundamental change of data ownership.
The price is high for non-compliance.
The large financial penalties of non-compliance have been frequently reported. However, the risk is far greater than one fine. With GDPR allowing individuals to take class actions against organisations that mistreat their data, any organisation that is subject to a data leak / hacking incident can expect to receive individual lawsuits which will not only increase the financial loss, but also consume vast amounts of time in settling individual litigation.
With this understanding in place, data management becomes the primary activity for any organisation getting ready for GDPR.
Exonar will help you to reduce the risk associated with GDPR by getting right to the heart of the matter:
Finding, Mapping and Managing your data.
Understand where you’re holding personal data, monitor compliance with process
SUBJECT ACCESS REQUESTS
Be ready for exponential increase in requests for data
Easily recall and provide data in consistent format
RIGHT TO BE FORGOTTEN
Identify all stores of an individual’s data so it can be readily erased
Move risky data to appropriate data stores
Meet the GDPR Dashboard.
Exonar’s GDPR dashboard provides a high-level view of an organisation’s information in relation to EU GDPR law. It shows an overall picture of all the data held by an organisation, which is subject to GDPR, where it is held and its characteristics. This approach takes organisations beyond spreadsheets and interviews, and into the realm of making well informed decisions, rapidly.