What is GDPR and why should your Technology business comply with the rules?
GDPR is a set of regulations designed to protect the personal data of individuals. It applies to all businesses that process personal data, regardless of size, including technology companies in the UK.
There are several reasons why technology companies in the UK need to comply with GDPR. Failure to comply with GDPR can result in significant fines. These fines can have a severe impact on a company’s financial stability, making it imperative for businesses to comply with the regulations put in place.
GDPR compliance can help build trust between technology companies and their customers. In an era where data breaches and cyber-attacks are becoming increasingly common, customers are more concerned than ever about the security of their personal data. By ensuring compliance, technology companies can show their customers that they take data protection seriously and are committed to protecting their personal information. We get a lot of clients saying to us that they don’t collect personal data, therefore, they shouldn’t be subject to GDPR compliance, however, personal data includes names, email addresses, phone numbers, dates of birth, financial information, health records, etc. If you collect any of this information then you need to comply with the GDPR rules.
Compliance can help improve the overall quality of data held by technology companies. The regulation requires companies to keep accurate records of the personal data they hold, including how it was obtained and how it is being used. This requirement can help companies better understand their data and ensure that it is being used appropriately. This can lead to improved data management practices, better decision-making, and more efficient use of resources.
Do you know why you are storing data?
If you need any help with Data Protection / GDPR, download our Data Compliance checklist here.