The countdown to the General Data Protection Regulation (GDPR) deadline has begun in earnest. These sweeping regulations go into effect on May 25, 2018—less than one year away. Not only will these new laws impact consumers and businesses throughout Europe, but they will also impact any company doing business in Europe.
At its core, GDPR is about protecting and harmonizing data privacy laws throughout Europe. The stakes are high as fines for non-compliance and data breaches can be costly. Enforcement will also be stricter with more weight and power invested into one single EU authority. Not only are organizations worried about compliance, but also about protecting their brand and reputation, ensuring customer loyalty, and of course, the impact on revenue. Read the article by Nicola McCoy for additional information on GDPR Compliance.
While businesses are tasked with putting the proper controls in place to know how data is stored and risk is mitigated, these new rules also present a unique opportunity for Enterprise Architects. They can use this rule change to become the good-news rock stars who drive value for the organization and increase customer loyalty. How your business handles personal information can improve how customers view your organization. At Planview, we can help you harness data to support regulatory compliance and also drive change and strategic initiatives.
Want to learn more? Take a deep dive and tune into our recent on-demand webinar, GDPR – An Opportunity to Better Understand and Transform your Organization. During the webinar, Planview’s Nicola McCoy and Peter Aschenbrenner discuss:
- The importance of protecting data as a corporate asset and understanding where it is, what is being done with it, and how it is being used
- How to provide visibility into what data is available and how it is being used
- How Planview solutions can help you reduce risks and increase revenue to target new opportunities
While many businesses may feel they are walking a tightrope with GDPR, they need to realize some of the high-level business outcomes that can be achieved. For example, organizations can use these new insights to better support strategic initiatives like digital transformation. By managing privacy and risk, GDPR leaders can also use collaboration tools to bring stakeholders together by leveraging GDPR checklists.
Using Planview solutions, organizations can log IT and data assets and include attributes, such as what the data is being used for, to help visualize how well the data is protected. When organizations understand data lineage, they can target and prioritize investments and planning activities required to support strategic activities.
By working with your organization, Planview can provide the capabilities that enable you to build a trusted repository of critical data assets, with defined data stewardship and governance processes to keep it up to date.
Want to learn more about taking the right steps toward GDPR compliance? I invite you to listen to the webcast “Get Ready for GDPR Compliance.” It provides information on common business questions being asked by stakeholders and how Planview can support answering them in a sustainable way.