With May 25th just around the corner, some companies not yet GDPR ready may be beginning to feel the pinch. But it is important to know there is nothing to fear; there is still time to get going. Just get a plan in place.
While the media has highlighted the significant financial consequences of failing to be GDPR compliant (up to €20 million or 4% of their global revenue), it is worth noting that regulators are prepared to take a wider view.
For most of Ireland and the UK (and indeed Europe), full compliance by the set date is unlikely to be achieved. One survey, published by DataIQ in early April, states that 25.4% of businesses are ‘prepared for GDPR’. Meanwhile, a report from Crowd Research Partners reveals 60% of businesses are expected to miss the GDPR compliance deadline. And of the 40% that will, just 7% are already fully compliant.
The good news is that regulators are expected to offer a ‘period of grace’ to struggling companies. In France, for example, the CNIL says it will delay taking any significant actions in the early months.
Getting GDPR Compliant: Key Questions To Ask
The steps involved in getting GDPR-compliant are detailed, but at their heart is the simple aim of protecting personal data. So even at the 11th hour, compliance is not out of reach.
Here is a checklist of questions to ask to ascertain if your organization is actually ready. For any, if the answer is ‘Yes’ then that’s one step closer to full compliance.
Have you …
Assigned Responsibility for Data Protection?
Provided Education & Training to Build Awareness?
Created a Data Inventory?
Supported Individual’s Rights?
Prepared Access Request Procedures?
Prepared Data Breach Response Procedures?
Ensured Smooth Security, Monitoring and Reporting Procedures?
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