Not an EU company? Think that the General Data Protection Regulation (GDPR) is not for you? Think again.
The GDPR (“Regulation”) enters into effect in May 2018 and impacts you in various ways.
The Regulation grants improved rights to all “natural persons” in the European Union (EU), whether they are EU nationals or not. Do you offer services or goods to customers in the EU? You’re impacted. Do you have even a handful of employees in the EU? You’re impacted. Do you monitor the behavior of individuals that takes place within the EU? You’re impacted.
And did I mention that for serious breaches there are fines up to four percent of your global revenue or €20 million, whichever is higher?
Did I catch your attention now? Well then, time to look at your business with a new outlook — with GDPR glasses. Whether you are an Australian bank, a Nepalese online retailer, or an Argentinian seller of goods, you should have a close look at the Regulation. If your company is subject to the GDPR, you will have to implement the new rules and be ready in less than four months. Below are just a couple of examples of situations you may face after May 2018.
If data subjects — meaning a person or individual whose personal data is in your database — want to be forgotten, they may ask you to delete all of their personal data, and you will have to comply under GDPR unless there is a prevailing legal obligation requiring you to keep their data for some time.
So, time to bring in the experts in your company, legal and technical, customer-facing and cloud operations, working together to align with what is starting to be called “the regulation of the century.”
You can learn more about how SAP SuccessFactors solutions can help you prepare for the General Data Protection Regulation here.