How will GDPR affect your US-based business?

The GDPR Affect

From the 25rh of May, 2018, the laws governing data storage and personal privacy in the European Union will undergo a comprehensive overhaul as the General Data Protection Regulation comes into force. For companies based in the EU, this deadline looms large on the horizon – the GDRP does, after all, represent the biggest change to data protection regulation in 20 years.

Given that the GDPR will have such a wide-ranging impact, European businesses have been gearing up for compliance for more than two years – or at least they should have been. What is less well-known, however, is that the new regulations have a much greater scope than previous data laws. For companies based outside of the EU, particularly those in the US, this means that GDPR compliance cannot be ignored.

Why US companies need to be prepared

Any US-based businesses that think that the GDPR does not concern them could be in for a huge shock. GDPR affects any organisation that collects or processes data from EU citizens, regardless of where that organisation is based. This means that if a US-based firm has a web presence and targets marketing at individuals located within the EU, then GDPR compliance must be met.

Travel, software and e-commerce represent just some of the most likely sectors where US-based companies are going to engage with EU citizens on a regular basis. In fact, given that the EU and the United States have the largest bilateral trade and investment relationship in the world, there are likely to be thousands of American companies that come under the GDRP’s remit.

Another reason why US businesses should take note of the new ruling is that it introduces hefty fines for any organisation that fails to achieve compliance. Penalties for the worst offences could be as large as €20 million or four percent of annual global turnover, whichever figure is greater.

How US companies can achieve compliance

Fortunately, there are ways that US companies can achieve compliance with GDRP before the deadline. First of all, businesses should make sure that they are fully versed in the ruling and how it relates to their operations. Determine whether you are a data controller or processor and identify what information you currently collect from EU citizens. Conducting a comprehensive data audit is one way of gaining a clear overview of how your business currently collects, processes and stores information.

US businesses can also enlist the help of managed Service Providers, including those based in the EU, if they are not sure how GDPR relates to them. Many cloud service providers based in the European Union are now offering bespoke GDPR packages to their clients to ensure that they are ready for the May deadline. Others, like Sungard AS, can provide specialised services that will prepare you for a particular aspect of GDPR, such as disaster recovery.

On the surface, the compliance deadline for the General Data Protection Regulation is a daunting prospect. Processes may have to be checked and employees may need further training, but there is still time to achieve compliance. What’s more, US companies should not view the new regulations as a burden. Instead, organisations all over the world should use GDPR as an opportunity to improve their data security and efficiency, giving them an advantage over their competitors and allowing them to deliver better service to their customers.

By Matthew Walker-Jones

CloudTweaks

Established in 2009, CloudTweaks is recognized as one of the leading authorities in cloud connected technology information, resources and thought leadership services. Contact us for ways on how to contribute and support our dedicated cloud community.
Nancy Zafrani

The Future of Relocation: AI-Powered Solutions for a Seamless Move

The Future of Relocation Artificial intelligence (AI) isn’t going anywhere — in fact, it seems [...]
Read more
Gilad David Maayan

What Is the Kubernetes Ingress Controller?

Kubernetes Ingress Controller is a component within a Kubernetes cluster that manages the routing of [...]
Read more
Gary Bernstein

The Impact of Social Media on Personal Privacy and Ways to Protect It

The Impact of Social Media on Personal Privacy In the age of information and technology, [...]
Read more
Gilad David Maayan

Azure Free Tier vs. AWS Free Tier: Which Provides More Value?

Cloud computing has become a cornerstone for the digital transformation of businesses. From startups to [...]
Read more
Ronald van Loon

Quick Decisions are Easy with Real-Time Analytics

The data-driven market is continually evolving, and with the advent of Big Data, professionals are [...]
Read more
Featured Thought Leaders

Get Featured: Ready to Showcase Your Insights in Interviews & Thought Leadership?

Attention technology brands! If you have a thought leader enthusiastic about being interviewed and offering guest posts insights to broaden their exposure, act now! They could be showcased on CloudTweaks.
Craig Lowell
Jeff DeVerter
Andy Hilliard
Chris Bray
Nancy Zafrani

SPONSOR PARTNER

Explore top-tier education with exclusive savings on online courses from MIT, Oxford, and Harvard through our e-learning sponsor. Elevate your career with world-class knowledge. Start now!
© 2024 CloudTweaks. All rights reserved.