Organizations worldwide brace for impact with the incoming data compliance mandate known as GDPR (General Data Protection Regulation), an EU regulation to protect digital privacy of European citizens. It states that companies must be able to document personal data for EU citizens, show where the data originated, who has access, and how the information is used.
Companies must be fully compliant by May 25, 2018 or risk fines up to 20 million Euros. If your company resides outside the EU, you may think this to be a nonevent – but think again! The impact of GDPR is truly global and is applicable for all companies who cater to European customers.
Fact Check: If you store or process information on EU citizens, you must comply!
It's not enough to simply secure your data. It goes beyond that exercise. The first step begins with acknowledging the harsh reality that your organization must be able to stand as audit-prepared and audit-ready. Failure due to non-compliance is more than just a scarlet letter, it’s a major business disruptor as well as an IT nightmare with the potential for hefty fines.
The task of adhering to such a strict mandate could require a small army of dedicated IT Specialists. Now that I have your attention, you should hear the sucking sound of your funds as they are quickly drained from your once mighty IT Budget.
If you would like to learn more about compliance, security and documentation, watch this brief video to uncover how TimeXtender can automate the task of compliance:
With TimeXtender, you can future-proof your BI and Analytics architecture to include automating tasks like creating and maintaining documentation for GDPR audits and IT revision reports. With insights about your data models, tables, fields and user roles, you'll gain a higher degree of security and data governance without the headache of manual work.
The agile data warehouse architecture in TimeXtender enables you to add new sources with just a few clicks. There’s no need to spend more than a few minutes to transform your data into the semantic layer and through the front end of your choice, make that data easily accessible for users.