No company can ignore the European Union’s General Data Protection Regulation (GDPR) rules, which are slated to go into full effect next year. (I just did a fairly deep dive into GDPR implications.) Those rules may be focused on consumers, but they will immediately ripple into corporate data concerns as well.
By the way, GDPR will directly impact companies even if they have no customers or employees in EU countries. In short, GDPR will force you to be far more concerned about where your data is housed and the intimate details of how every partner of yours functions. The operations of very few Fortune 1000 companies don’t touch anyone with EU ties, even second-hand ties.
This is how GDPR will impact your B2B data privacy issues. It focuses on protecting data for consumers, but your employees are, in the eyes of the EU, consumers. It doesn’t matter if the data involved comes directly from employers.
GDPR will force you to handle your data in a more stringent and documented way. Your GDPR preparations are the perfect opportunity for you to redo all of supplier/contractor/distributor/cloud agreements. Put bluntly, use the cover of GDPR to better protect your corporate privacy.
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