A World of Data
The amount of data being produced every day (about 2.5 quintillion bytes per day) continues to grow. To give you an idea of its epic growth, 90% of data that exists today has been produced in the last two years alone, and it doesn’t seem to be slowing down.
As of 2018, entire corporations operate online, with virtually all the information they hold housed in the cloud. The EU’s new General Data Protection Regulation (GDPR) might seem like another compliance procedure your company must worry about, but in truth, it should be seen as a benefit. It means greater protection for both the customer and your organization.
What Happens if You’re Not GDPR Compliant?
Marketing departments will refer to huge databases of consumer data to make strategic decisions. Along with this, organisations store copious amounts of sensitive data like employee records and private business operations data. And this is just to function daily as a business. Leaving your data unprotected or misusing public data in any way could jeopardize your reputation, scare off your customers and hit you right in the profits. It’s not difficult to see why data compliance is an important aspect for your business future.
Much of the change to GDPR has been consumer orientated. It ensures that data in circulation is collected, managed, and stored in a secure fashion. And puts more power into the hands of the consumer, allowing them to specify what data is stored, what it’s used for, and when it’s removed.
If you fail to keep your data secure and in line with the GDPR, the consequences are severe – namely fines of up to €20 million or 4% of your annual turnover.
To avoid near financial disaster, you will need to ensure your current data is stored securely and your means to acquiring new data follows the GDPR guidelines. Which could be anything from featuring an optional tick box on your website (to gain permission to share consumer details) to trawling through vast servers of data with a fine-tooth comb. The execution of perfect compliance is, without a doubt, a difficult task.
Behold! Compliance Automation
What you’ll find with big changes in regulations is that it forces you to review a lot of your processes, and this is where automation can help. By taking advantage of the right automation technology, compliance becomes a lot more palatable.
Compliance automation delivers much more than enhanced efficiency, it also provides several benefits to risk control:
1. Automation standardizes data giving you consistent results. With an automation platform in place, compliance teams can rest easy knowing they’re adhering to all regulatory requirements.
2. Automation reduces labour costs, saves precious time and keeps you safe. Come audit time, all the relevant data will be available at the click of a button. With automated workflows there’s no laborious data gathering or risk of human error from manual processes.
Microsoft Office 365
Embracing a reputable online tool to automate your workflows will be your key to cloud compliance, and Microsoft Office 365 is the perfect solution. Not only will you benefit from the millions they have invested to protect customers who process data using their systems. But your company data is much easier accessed come audit time, since all of your employees are using a single central platform.
A Solution That Really Solves the Problem
While part of the solution to staying compliant is building the right automated workflows, it shouldn’t stop there. The newly released BPA GDPR Compliance software is unique. It’s a unique GDPR compliance solution that’s fully integrated with Microsoft Office 365, so the thought of spending weeks migrating your data is not a problem. Secondly, it’s been configured by GDPR professionals to provide you with a ready to deploy process engine that simplifies the complex jargon of GDPR into practical business terms. This lets you apply the changes straight away.
Get up to Speed, Fast
In essence, the GDPR offers a great opportunity to digitally transform – giving you long lasting benefits. Also, automating compliance processes will standardise the quality of your compliance every time, giving you complete peace of mind.
In fact, with the new regulation just around the corner, it’s imperative that companies everywhere get up to speed with the facts. We have recently teamed up with GDPR specialists to produce a whitepaper containing advice and solutions for protecting data, which you can download below.
BPA GDPR Compliance software solution, is a pragmatic, ready-to-use digital tool for easy, affordable, automated data compliance, helping to establish asset transparency for even the smallest of organisations.