So it’s finally here, the General Data Protection Regulation is flowing smoothly through all organizations in the European Nations as well as with those too who are associated with the EU member states. Companies are now well-aware about its rules, reach, what has to and not to be done when it comes to GDPR and going forth it has also made businesses and processes better and more stringent than ever before.
As soon as GDPR hit, many companies who felt they would not be able to live up to its rules made decisions of halting their business altogether. GDPR has also come up with hefty fines that would almost take down the entire company’s profits if slapped and further to this; building the business back would be difficult. Viewing the future of GDPR, things look great now and the stringency is expected to be the same, making it difficult for companies to overlook any loops in the process and truly give back complete control to the users.
So the question that arises now is what next? On 2nd September, GDPR completed 100 days and people are now aware and comfortable about its reach. However, what happens next is a question that is lingering on everybody’s mind.
In the future, many other countries are on the verge of implementing something similar. GDPR has managed to truly turn the game around when it comes to security, privacy and making a difference in employee-customer relationships and this is one of the reasons why many others also want to get into the game today. Recently, a recently released Microsoft statement stated, “While the regulation applies to companies of every sort, much of the practical burden falls on the tech sector. This is due in part to the large amount of information held by online firms, but it’s also because, with digital transformation trends, every company is relying more on cloud services. For Microsoft and other tech companies that provide these services, architectural and engineering changes that support GDPR’s new requirements are foundational not only for ourselves, but for all our customers who use our services to store or process consumer information.”
Going further, sticking to the norms is probably going to be one of the biggest challenges since businesses will grow, creating a way for more customers and bigger data. Holding on to the concept of transparency will get difficult, however, once companies learn the tactics of how to keep businesses and processes clean and function effectively, the results will be unlike anybody would have seen before, transforming the corporate world forever and strengthening customer-company relationships phenomenally!