While GDPR will affect companies of all sizes worldwide and not just in the EU, a large proportion of small and medium-sized businesses (10 to 500 employees) companies are completely unprepared for the major regulatory changes headed their way thanks to the EU’s General Data Protection Regulation (GDPR).
Most of SMB’s don’t even realize how or even that the new regulation even affects them – especially those based outside of EU but handling personal data of EU residents – opening up big legal and operational risks.
Key Miadria findings say that SMB’s already struggle with information security and privacy so adopting GDPR requirements with current technologies and processes is going to be next to impossible.
With all this in mind it is very important to properly assess and address risks that GDPR regulation will put in front of your company. Not acting on it and not being prepared by 25th May 2018 will be very costly with fines amounting up to 20 million Euro or 4% of global turnover.
Read the report Miadria have prepared on GDPR challenges related to SMB’s: