June | 2018
A lot has been said about the General Data Protection Regulation (GDPR) that has come into effect from May 25, 2018. In the digital world, trust is invaluable, and customers, employees and all other parties will expect organizations to be responsible while using their data and in safeguarding it. Lack of trust in digital ecosystems brings in more challenges for companies to liberally use processes or share data in today’s digital economy. An ethos of data security and privacy by design is required for limiting exposure to adverse risks and protection of new business models. High ethical standards and strong digital trust will act as differentiators for companies in order to outpace their competition and to achieve better business outcomes.
A few organizations have taken steps in order to be GDPR-compliant with appropriate investments in technologies and processes. However, we find there are many organizations who are still in a period of adjustment, and where awareness on GDPR is building up, but not enough.
What will be the next steps to become GDPR complaint? We will see convergence in efforts towards GDPR-compliance along with a sharp focus and investment on data governance strategies and technologies. Companies will:
What are your views on measures that your organization needs to undertake in order to comply with the GDPR?
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