The new GDPR regulation has become a hot topic for business leaders today. However, with most companies focusing on the disruption it will cause, along with the potential risk and financial loss for those who fail to comply, you had be forgiven for thinking that it is all doom and gloom. But there is a new, brighter, intelligent kind of disruption that is there for the taking – unleashing the power of business data to drive innovation and competitive advantage.
Therefore you need to ask yourself a much bigger question. Will you drive intelligent disruption and optimise business value through your GDPR journey?
The legislation is designed to protect personal information in an increasingly digital world. It legislates that you can only collect personal data if you have a real reason to do so.
Possible reasons include that you have:
- a legal obligation
- an overriding legitimate business interest
- fully-informed and freely-given consent from the data subject
- or you are processing to perform a contract to which the data subject is a party
Start your journey towards GDPR compliance
Whilst complying with the new GDPR will undoubtedly pose a number of new challenges. It also has the potential to drive new opportunities for companies and departments.
The first step is to gain acceptance of the business need for GDPR compliance, as well as appreciation of the potential business value. You will also need to ensure and enable effective collaboration between IT, legal and management, as a cohesive and consistent data governance strategy will be critical to success.
Only then can you start to build the right foundation for your journey. Do you have your data governance strategy mapped out? Perfect! But how far are you along the journey to GDPR compliance?
Download the 4 key questions to determine how far you are!