Saving Money in a GDPR World
In this post GDPR world that we now live in, Data Compliance is not something that is optional for an organisation anymore. Consumers now have a lot more clarity around what rights they have when it comes to their personal data and they are not afraid to execute these rights.
Consumers have the right to request organisations to produce what Personal Identifiable Information or PII they hold on them (referred to as a Data Subject Access Request or DSAR). They also have the right to request certain actions be taken with their data such as deleting it, correcting it etc.
The costs associated with such activities are both direct and indirect and depend on a number of factors within your organisation:
Direct costs relate to such things as the resources required to deal with such requests as they arrive and how quickly and easily your organisation can gather such information.
Indirect costs can include reputational damage if complaints are lodged by individuals if they are not satisfied with how an organisation has handled their request. After all news travels fast and your competitors are ready to take advantage where they can. All of the above without even mentioning the actual fines associated with GDPR non-compliance.
So, what is so important about Email Compliance in this context? Well here are a few things to consider;
- The largest repository of data in all organisations is what is know as Unstructured Data, and this is mainly made up of Email and File Data. So, this represents the bulk of information that your organisation will have to sift through in the event of someone submitting a DSAR.
- As the name suggests, Unstructured Data also tends to be the most difficult type of data to search for PII information. Imagine tens of millions of emails spread across huge date ranges with highly sensitive and potentially reputationally damaging information.
- As if the above wasn’t enough of a headache, there is a 30-day limit within GDPR for an organisation to produce such information to a Data Subject, which is a serious challenge to meet.
So, how can you reduce your exposure to the costs associated with the above?
Waterford Technologies are experts in Email & File Data Management & Compliance. We provide the tools and knowledge that help organisations to save thousands when it comes to the management of such data. While demonstrating GDPR compliance to suppliers and regulatory bodies. Our solutions provide the efficiencies and intelligence that drive cost reductions in the management of Email & File Data.