Over the last few months, you could meet with GDPR almost everywhere. Companies either already started to act accordingly or they still think they have plenty of time till 25th May 2018. GPDR introduces considerably comprehensive changes in the field of corporate systems, therefore it is time to start to pay attention and work on it actively.
What is GDPR and who does it concern?
At the end of May 2018, the largest European regulation on the protection of personal data – the General Data Protection Regulation (GDPR) will come into effect. It applies to all business subjects, which were or have been during their existence in contact with personal data of their customers, business partners or employees. Practically, it applies to almost every company.
A 20 million euro fine – one extra reason why to deal with GDPR right now
What can be a better motivator for implementation of the GDPR regulation, than an effort to avoid the 20 000 000 euro fine? Unfortunately, we didn´t make any mistake in number of zeros. Failure to comply with newly adopted legislation can lead to fine which maximum amount can be liquidating. The fine will be either 4% of the full year turnover of a company or it can climb up to incredible 20 million euros.
GDPR and its impact on corporate systems
The new regulation specifies, among other things, processes concerning gathering, processing and storing of customer data. In modern companies, the data are recorded and managed by a CRM solution, which serves as a centralized storage of important business information. Besides, work with marketing tools for sending mailing campaigns or marketing automation is often connected with CRM, so the marketing department work directly with the data in CRM. Thus, GDPR has far-reaching consequences for marketing employees, salesmen and other persons who are in contact with personal data.
CRM instead of Excel Files
Companies which use a little clumsier way of recording customer data – it means they record customer and business data in excel-type files – will be forced to use technology such as the system for customer relationship management from the time when GDPR come into effect.
This step may represent a large initial investment for most of the companies, however, more effective business processes, higher quality of customer relationships and quick return on investment are among the most significant reasons why is worthy to consider this IT transformation.
How to begin with preparation?
For most of the companies, it can be difficult to get oriented in lots of rules which GDPR brings. This is true twice as much in the field of IT and corporate systems, where the whole process is very time-consuming and often requires comprehensive changes. If you haven´t made the first step yet, and the May term is behind the door, we can easily help you with our implementation experience to make your corporate systems in compliance with GDPR.
Author: Michaela Magátová