Data protection is of importance to companies. Unfortunately, data protection activities usually do not generate direct sales. In this respect, investments are often made only if absolutely necessary. With the entry into force of the European Data Protection Principles (EU GDPR) in May 2018, compelling action for companies have since become necessary. The GDPR largely replaces the individual Federal Data Protection Acts and makes new ones necessary (e. g. in Germany the federal law Bundesdatenschutzgesetz 2018 is already adopted). In the event of violations of the GDPR, fines of up to 4% of the turnover are due. This is not only valid for companies which are located in one of the 27 member states of the European Union (EU) but also for all other enterprises making business in the EU.
Companies and institutions of all sizes should therefore immediately address the new legal situation.
For more details do not hesitate to visit the privacy information page of INNOVATIVE MANAGEMENT, a consulting agency for small and midsize enterprises (SMEs). INNOVATIVE MANAGEMENT is a Germany based firm, which is specialized in supporting companies which are keen to optimize their digital transformation grade and data protection compliance.