The European Union’s General Data Protection Regulation (GDPR) formally takes effect on May 25. If you’re reading this and you work for a European-based company (or one that conducts business in Europe and possesses data from EU citizens), you should probably have a plan in place to ensure GDPR compliance … like, yesterday.
Is GDPR a big deal? Check out the staggering results from an international survey Ovum conducted about the unprecedented regulations and their effect on business:
- Two-thirds of businesses expect to have a change in their global business strategies to accommodate new data privacy regulations
- Over half of businesses think they will be fined due to the pending GDPR in Europe
- More than 70 percent of businesses expect budgets to rise to meet new data sovereignty regulations
Those are some pretty eye-popping findings. And with fines around $25 million (yes, we just had to remind you one more time), they absolutely shouldn’t be ignored.
OK, Enough Doom and Gloom.
Close your eyes for a second and imagine that companies could prepare accordingly and rest easy, knowing they’re equipped with file management software that doubles as “GDPR Insurance.”
Imagine executives knowing their team can confidently meet GDPR’s onerous requirements around data erasure and portability, with a full understanding of where every piece of PII on their systems lives.
And imagine that the platform that does it all could be deployed pretty much as soon as GDPR hits the streets.
That’s what we do. While the business world has been in a low state of panic about GDPR, we’ve been working behind the scenes to ensure every company – large or small – has an affordable, easy-to-use tool to ease compliance. After all, if you always know where GDPR-relevant data exists in the depths of your complex systems and servers, you pretty much have nothing to worry about.
Starting to feel just a wee bit better? Great; we’re making progress.
GDPR Compliance: It’s Time
So, gut-check time. With just a few sunsets standing between the way things were and the way things better be if your business wants to thrive under the new GDPR regulations, it’s time to think long and hard about the preparations you’ve taken to ensure compliance.
GDPR is complex. Most companies frankly have no clue if they’re “in the clear” as they operate with on-premise and cloud systems jam-packed with data that’s inaccessible. On May 24, that’s an annoyance. On May 25, it’s a massive liability. Think of all the Word® documents, PDFs, Slack messages, emails, memos and spreadsheets your organization generates. Do you know what’s in all of them? Probably not. After all, in a world where we can access the sum of human knowledge at the push of a button, business systems are the one place where information remains locked away. Before GDPR, many companies never had a motivation to ensure total control of the data in their possession; a stray email address or national identification number was really no big deal. Now, every company better have an easy, secure single source of truth for all their information … or they could suffer the hefty consequences.
Our wealth of pre-built connectors, instant-start cloud hosting and advanced machine learning technology make it possible for any team – one person or 100,000 – to finally assert total control and help ensure GDPR compliance. G Suite? We connect to that. Office 365? We connect to that. Dropbox? We connect to that. Box? We connect to that. Local servers and NAS? We connect to that. Anywhere PII might live in your business, we’ll find it and let you know.
The Docxonomy promise is simple: We deliver unrivaled value by offering an affordable, real-world solution to make business content accessible and usable, no matter where the original documents are stored. There are no strings attached. If Docxonomy doesn’t fit your needs, you can cancel at any time. If it does, it’s just a low monthly investment, with no minimums or maximums.
The Takeaway: Don’t Panic, But Do Act
It’s time to think long and hard about the future of your business. The punitive side of GDPR will drive some companies under … even if they have the best intentions. That could be you if stray PII is lurking on your systems, whether you know it or not.
There’s nothing to lose, and peace of mind to gain. Docxonomy signup takes about 5 minutes, and you won’t need IT support to get up and running. Fifteen bucks vs. $25 million … the right answer is pretty clear.
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