After the last update from 2016, the next version of the General Data Protection Regulation (GDPR) is set to go into effect on May 25, 2018. It will impact the way businesses worldwide process and store client and employee information. How will GDPR Impact Business all over the globe?
Your company data is your intellectual property, your next big break, your customer records, your revenue. A breach costs much more than just fixing outages and damaged systems. I see personal a much higher risk of losing your reputation and trust which clients and customers put into your company.
The new European legislation is all over in the news since its announcement in early 2016, so if you’re a marketer, advertiser or you work with data, you’ve probably could not miss it. The deadline is coming up fast, a worrying 90% of SMB owners in the UK and the EU have not yet completed preparing for the new legislation. There is a slight chance that they have not been made fully aware of the regulations and the consequences for failure to comply.
If you see your self to be part of this 90% then you have a good chance to update yourself, just keep on reading the complete infographic below. The infographic explains the importance of GDPR and how it will take effect on a global scale.
GDPR Impact: Why are the Rules Changing?
Old data protection rules were archaic and held back digital advances in business. GDPR will provide a single set of rules on processing data in the EU, making it easier to do business and grow your company. The new system hopes to boost consumer confidence with stronger control over their own data. Over half of all fraud incidents are last year in the United Kingdom were cyber-related.
57% of online users in Britain don’t feel safe sharing their personal information online
43% of users don’t want their personal information to be accessible by companies
The infographic looks into the following questions about GDPR:
- What are the new GDPR regulations?
- How can GDPR affect your business?
- How will GDPR change business?
- Will cybersecurity be the next big concern?
Do get surprised at 26.May, then it is too late. Just keep on reading the infographic and see how will GDPR Impact your business. You have questions or thoughts, feel free to use the commenting section to exchange your questions with your peers. Hope to see you soon back.