General Data Protection Regulation, ready for the Digital Economy
The deadline for enforcement of the General Data Protection Regulation (GDPR) is May 25, 2018, and businesses of every size will be affected, not just the ones in the European Union. The severe financial penalties for non-compliance have been well publicized, yet the new regulation also represents a wider opportunity to transform the way you handle data and manage risk and compliance so that your organization is in better shape to compete in the digital economy.
WHAT DOES THIS MEAN FOR YOUR BUSINESS?
The GDPR will potentially affect every business that processes personal data, and not just the largest companies. At one end of the scale, this could be simply how you handle your internal employee data; at the other end, it could have dramatic and far-reaching effects on how you process and store customer data across multiple markets.
Every organization needs to be fit for digital business to compete effectively. The requirements of the GDPR can therefore serve as a useful accelerator to harnessing the full value of your data by channeling resources into the right areas. Compliance is mandatory, but instead of thinking of the GDPR as an unavoidable cost, consider it as a valuable investment in your digital future.
Review GDPR Summary for SAP Business One
Review GDPR Summary for SAP Business ByDesign