The General Data Protection Regulation (GDPR) is a revolutionary act in the digital era adopted by the European Parliament and the Council of the European Union in order to protect processing of personal data of natural persons. This regulation protects human right to privacy.
Companies that show respect for the privacy of their clients will gain an enviable advantage on the market and show that they are up to date with existing regulations across Europe.
It is critical that one is aware that the GDPR replaces all existing data protection acts and increases the obligations of the companies in relation to data protection and their responsibility. Also, this law applies in the entire spectrum of data processing – from the collection of personal data, through the use of this data up to their deletion. Your organization will need to prescribe policies and procedures for dealing with personal data to ensure compliance with GDPR. The new rules apply to all legal entities of any size that process personal information.
The legal nature of data protection is rapidly evolving and represents a challenge for businesses, organizations and government authorities. If you work with clients, offer services online, in the financial services sector or you are in possession of particularly sensitive personal information, your business may be particularly vulnerable.
- competitiveness in the market
- improving business reputation
- loyalty to the client
- accurate and precise information from your clients
- improved data management procedure
It also decreases:
- the cost of data maintenance
- the possibility of initiating administrative proceedings against you