GDPR (General Data Protection Regulation)

Hope all well.

Just in case you are not talking to advisors about this already, I wanted to send you something on the topic of GDPR (General Data Protection Regulation), something which is now worrying a number of our clients.

As you may know, all UK businesses will be affected by the GDPR, particularly those who hold sensitive data about their customers.

A number of my clients are now looking closely at this given all the personal data they now hold on customers from websites, loyalty schemes, customer programmes etc. The Technology, Media and Telecoms sector faces a particular challenge around this – an ever increasing exposure to large amounts of customer data from everyday business operations.

In the next 12 months, all UK businesses must implement strong governance processes to ensure that Customers’ Personal Identifiable Information (PII) is stored securely and disposed of properly (at the right time, in the right way).

However, we see two recurring issues:

• Firstly – who ‘owns’ the issue of GDPR? IT, Legal, Finance? In many cases, this issue is slipping through the cracks.
• Secondly – a lack of appreciation towards how much work will be required to get the business GDPR compliant in time for next year.

Most of our clients are not yet ready. However, many are now considering their plans before the summer break given the time taken for implementation.

If you’d like to hear what others are doing then please do let me know and I can introduce you to one of our specialists to talk you through this in more detail.  You might also find it helpful to read the attached two reports.

The GDPR – The clock is ticking are you prepared

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Cross The Line Report

 

 

 

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Picture: Shutterstock

Source: KPMG

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