Winter is coming (from EU to US)… are you ready for GDPR compliance?

Anyone who watches Game of Thrones on HBO knows what I am talking about. “Winter is coming” is a phrase often used in the show (which is fabulous if you are not yet watching!) and we are left with more questions than answers as to what that really means. GDPR compliance is coming as well and this leaves many individuals scratching their heads as to not only what the initialism actually means (General Data Protection Regulation), but also how compliance (or lack thereof) will affect their business.

In short, GDPR is EU legislation with regard to privacy rules that goes into effect on 25 May, 2018. The new law requires all businesses to disclose retention times for personal information and gives users the right to demand that organizations erase their personal data, unless they consent to the collection of data. How big of a deal is this for businesses? How about fines up to 4% of worldwide revenue!

You’re saying to yourself: “no big deal, we are a U.S. based company”. True, unless you provide goods or services to any EU citizens, and now you are subject to the same data protection requirements as European Organizations. Your business will need to know any personally identifiable information (PII) on any European resident and must be able to provide that information upon request by any consumer. In a recent PwC survey, 92% of the respondents consider compliance with GDPR a top priority in 2017. From the survey, 77% of companies plan to invest $1 million or more on GDPR compliance efforts.

Ebsta has developed a GDPR solution that addresses compliance requirements, with only a couple of clicks. If you are interested, you can learn more on our website.

In the words of Jon Snow, “Winter is coming, we know what’s coming with it…”. #GPDR is coming, Ebsta knows what is coming with it.. are you ready?