The Business effects of the GDPR to EU Companies

The new data protection law gives the consumer more rights and gives companies the task of complying with the new guidelines.

In short, this applies to all companies and organizations based in the EU, regardless of whether the data is processed in the EU or not.

Organizations that are not resident in the EU are also subject to the GDPR. If a company offers goods or services to citizens in the EU, it has to comply with the GDPR.

All organizations and companies that process personal data must appoint a data protection officer who oversees compliance with the GDPR and is responsible for any breaches.

Companies and organizations that violate the GDPR must expect severe penalties of up to 4% of global annual turnover, or 20 million euros, whichever is greater.

Many people believe that the GDPR only concerns IT, but that is a mistake. The new regulation has far-reaching consequences for the entire company, including its marketing and sales activities.