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Is your company ready for the GDPR?

Take your agenda and on May 25, 2018, write down: “Take the day off”. It will be the most rewarding day because all your friends in the data industry will be hard at work. The reason? It’s the day GDPR will become law, and you will be totally relaxed because you are ready for it. Right? Right! Well just keep on reading if this all sounds a bit hazy to you.

Maybe you’ve been out of touch in outer space on Elon Musk’s latest spacecraft for way too long: GDPR stands for ‘General Data Protection Regulation’ and will drain your company’s bank account if you’re not prepared. In a nutshell, you will need to have an exact inventory of the data you gather, who owns it, where it is stored and what contingencies are in place when a data breach should occur. If you want the details you can find the full write-up here.

So let me briefly explain how we can play a supportive role here. At MultiMinds, data is our bread and butter, we track websites and apps, and work our magic so you can decide what audience to target for your next ad campaign. From our perspective, in the context of the GDPR, we are known as ‘Processors’. We act on behalf of our customers to manage their data. Thus, by the nature of our work we have a pretty good grasp on how to handle online data. We operate at the source and have both the skills and the tools to evaluate data compliance on a continuous base.

Of course, the GDPR is broader than just online data. It covers any form of data and also has substantive legal ramifications. So, naturally, MultiMinds is not uniquely qualified to handle all these aspects on its own. That is why we partnered up with a ‘data management’ company and a legal party. The first ones are experts when it comes to information governance, information architecture, data quality and data lifecycle management. Their focus is to compare this with the GDPR requirements and the level of ambition of your data protection plan. To put it simply, while we take care of data flowing in from the outside world, they handle, register and inventorize all internal flows.

Also, to prevent a reactionary legal response, you want a legal team to join the party. These legal services include performing a legal data protection audit, bringing your data processing activities into compliance with legal obligations towards data subjects and data protection authorities, setting-up and managing data processing agreements with third parties, and regulating your international data transfers. They are also experts in drafting all types of legal documentation that the GDPR requires you to put in place. And when things should take a bad turn, they can represent you before the competent data protection authorities and national or European courts in all privacy-related matters.

We hope you now have a good idea why the GDPR is so important, and trust that MultiMinds is a competent partner to help you navigate this challenge. If you want to learn more or are convinced you need help to prepare for the GDPR, just give us a call and we’ll be happy to come over or set up a meeting. And instead of a threat for your business, we can pivot this to an opportunity that will prove advantageous in the long run.