What is the GDPR?
The General Data Protection Regulation (GDPR), the most important change in data privacy in 20 years, will take effect on May 25, 2018. The GDPR is a regulation by which the European Parliament, the Council of the European Union, and the European Commission intend to strengthen and standardize personal data protection.
The new regulation will replace the current data protection directive of 1995 and is truly democratizing data privacy. Its objectives are to give European citizens control over their personal data and to simplify the regulatory environment for international business.
The business impact is serious: Unlike previous privacy legislation in Europe or elsewhere, the GDPR authorizes regulators to levy severe fines up to €20 million or four percent of annual global revenue, whichever is higher. And unlike the protection directive it’s replacing, the GDPR applies to all companies in all countries who handle data collected from residents of Europe.
Achieve GDPR Compliance with LogicManager
Rob Coleman, CTO for UK&I at CA Technologies, said, “The key to getting ready in time for most large enterprises will be to create a cross-functional program of work containing representatives from legal, IT, HR and business units – this is not just an IT problem.”
Cross-functionality in risk management is intrinsic to an enterprise risk management approach. Achieving GDPR compliance can be overwhelming. But when businesses take a risk-based approach, they can easily break down the process into segments that different individuals are accountable for. Step by step, as individuals complete their own tasks, these segments will be brought back together into a picture of compliance.
LogicManager offers the most efficient approach to meeting GDPR compliance. Our integrated GDPR compliance management software enables you to scope, prioritize, track, and report on the critical information that’s scattered throughout your organization. Measuring and achieving GDPR compliance is a large undertaking without software, as many different applications would be required to cover the scope of this new regulation. With LogicManager, every tool you need to get compliant are centralized in one intuitive platform.
With the deadline just around the corner, you need a GDPR compliance solution that gets you up and running as quickly as possible. LogicManager is a SaaS solution, which enables us to deploy customer environments virtually and quickly. Customers are up and running in the system within 5 business days. Every customer is paired with a team of LogicManager’s advisory analysts to help them achieve new initiatives within 90 days by training them on the software, uploading existing data, and building out new reports.
LogicManager’s GDPR Compliance Solution
LogicManager’s GDPR compliance solution offers a wide range of pre-built content and integrated tools to help you achieve compliance quickly and efficiently.
- Full Text of GDPR Requirements: We provide the full text of the GDPR so you can educate yourself on what’s required of your company.
- GDPR Audit Readiness Checklist: Conduct a GDPR audit with our pre-built audit readiness checklist to see the scope of applicability to your company and identify any gaps in compliance.
- GDPR Data Breach Notification Form: LogicManager’s online incident report forms help you collect information like opt outs, or notify affected parties of a breach within 72 hours.
- Data Privacy Impact Assessment: DPIAs, required by the GDPR, can be completed and documented in the assessment area of LogicManager.
- GDPR Vendor Checklist: We created a GDPR vendor checklist users can send out to their vendors to see if their third parties require GDPR compliance.
- Data Library: Identify where data is housed, how data flows through the company, and who has access to it in our data library.
- Policies Library: Keep track of your company’s GDPR-specific policies. House Binding Corporate Rules in one central repository.
Get this solution.
If you’re already a LogicManager customer, you can contact your business analysts to activate this plugin! If you’re new to LogicManager, you can request a personalized demo to see our GDPR compliance solution in action. Not ready for a demo? Check out our GDPR eBook in the meantime!
- Model Risk ManagementLogicManager Analyst Team2018-09-06T11:39:35-04:00
- NAIC Model Audit Rule (MAR)LogicManager Analyst Team2018-08-10T11:30:48-04:00
- 23 NYCRR 500 Cybersecurity ComplianceLogicManager Analyst Team2019-07-18T16:38:22-04:00
- GDPR ComplianceLogicManager Analyst Team2018-09-06T11:27:01-04:00
- NIST Cybersecurity FrameworkLogicManager Analyst Team2019-07-18T16:26:39-04:00
- Due Diligence and Third-Party Risk Management for Investment AlternativesBernie Lapierre2018-02-22T16:58:05-04:00
- Cybersecurity Risk Assessment FrameworkLogicManager Analyst Team2019-07-18T16:34:42-04:00
- ORSA Compliance and Risk Management | LogicManagerLogicManager Analyst Team2019-05-15T13:42:24-04:00
- ISO 19600: Risk-Based Compliance ManagementLogicManager Analyst Team2018-08-10T10:55:56-04:00
- FFIEC Business Continuity PlanningLogicManager Analyst Team2019-03-04T15:27:29-04:00