GDPR – It’s Not Just for European Organizations
The European Union (EU) General Data Protection Regulation (GDPR) comes into force in May 2018. Four years in the making, this will bring a much greater emphasis on compliance with much harsher penalties. And this law is not solely limited to organizations based in Europe. Any organization that has data on EU citizens is subject to the law.
Changes to processes, systems, and technical controls may be required, and it is important for professional services firms to consider whether their current practices of storing and processing personal information will comply. To determine the potential impact and how to prepare, all firms should ask themselves the following four questions:
- Are we storing or processing personal data?
- Are we storing or processing sensitive personal data?
- Is this data adequately protected?
- Do our cloud service providers comply with GDPR?
More detailed information and insights on data governance strategies can be found in our recently published white paper GDPR – The Need for a Revised Information Governance Strategy. This paper summarizes several key requirements of the GDPR and maps them to proposed best practice and how a well-designed and robust Information Governance strategy can greatly improve a firm’s ability to comply with the GDPR and give clients confidence that their personal data would be offered a higher level of protection than typically exists.
iManage Work Product Management
Work Product Management products from iManage allow companies to organize and track the complete lifecycle of a professional engagement, managing all content created from before an engagement is opened through to its disposal when policy rules permit. The nature of professional engagements frequently requires the creation and/or storage of personal data and iManage products have advanced capabilities in this area developed through many years of experience meeting regulatory demands. Users of iManage products running on- premises or in the cloud are well positioned to meet the requirements of GDPR.
Contact iManage to further discuss how a well-designed and robust Information Governance strategy can greatly improve your firm’s ability to comply with the GDPR.
Additional resource: http://www.gdprwiki.com/