On 25 May 2018, the European Union (EU) will bring into force the General Data Protection Regulation (GDPR). The regulation aims to put EU residents in control of their personal information. It regulates how information of EU residents is collected, stored, used, processed, transferred and deleted by an organization. Any organization, local and international, that holds any personally identifiable information (PII) on any EU resident will have to manage that information in accordance with GDPR regulations.
Non-compliance can result in fines of up to 4% of the company’s global annual turnover or €20 million, whichever is higher. Companies are also worried about the impact non-compliance could have on their brand image, especially if and when a compliance failure is made public. This makes developing a holistic plan to comply with GDPR very critical for all organizations.
As GDPR deadline looms, it is time companies build a comprehensive strategy to accelerate and sustain GDPR compliance.
Download our Data Sheet to know how Solix can help your organization accelerate and sustain GDPR compliance.