The new legislation will offer people more control over their personal data and businesses will benefit from a level playing field.
The GDPR will help cut red tape for many businesses and represents a major opportunity for companies to set themselves apart from competitors by building more trust and transparency with current and prospective customers.
However, the new rules also bring more obligations and the possibility of heavy fines for companies failing to comply.
Make sure you and your company are aware that the law is changing to the GDPR and understand the impact this is likely to have. There are some exemptions to the GDPR that apply in certain circumstances but in essence all organisations irrespective of their size are expected to comply with GDPR.
Also bear mind that it is not just organisations with an EU establishment that need to be concerned with GDPR compliance; the GDPR has extra-territorial effect and non-EU established organizations will also be subject to the GDPR to the extent they process the personal data of individuals in the EU in relation to offering goods or services to those individuals in the EU, or monitoring their behaviour within the EU.
These organisations will need to evaluate their processes for handling employee and client personal data.