The GDPR is an EU data protection law that gives individuals more control over how their data is collected, used and protected online. It also requires companies to follow strict new rules for using and securing personal data they collect from individuals. GDPR Software provides digital implementation support in this regard.
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What is GDPR?
Before we look specifically at GDPR software, it is important to understand what is meant by GDPR: The Data Protection Regulation (GDPR), which has been in force in the European Union (EU) since May 2018, is one of the most important data protection regulations of the last decades. Primarily, the GDPR aims to give EU citizens the ability to decide how companies use their data. The regulation states that companies (anywhere in the world) that process personal data of EU citizens must ensure its security and privacy.
Non-compliance can result in fines of up to €20 million or 4% of annual global turnover, whichever is greater. Fines of this magnitude are reason enough to ensure that companies comply with the GDPR. There are several providers of GDPR software on the market to help businesses comply with the regulations.
What is GDPR Software?
GDPR software is a data protection management tool that helps manage customer data, consent forms, and data security. GDPR software makes it easier for customers to choose the amount and type of data a company should store or process. It also helps improve a company’s data storage, management, and privacy practices.
Features of GDPR Software
Choosing a GDPR software with the right features is important to ensure full compliance. Below are the key features to look out for when choosing a suitable GDPR software:
1. Consent management
Consent management is a process that informs users about how an organization wants to use and manage their data. In this process, users can determine what data they want to share. Consent management, as an important function of a GDPR software, logs and tracks the collection of consents so that organizations can comply with data protection regulations.
2. Data portability
Features of a GDPR software that help customers move, copy or transfer their personal data from one database, cloud or IT environment to another.
3. Access controls
Enables database monitoring, restricted sharing, secure password creation and other measures to prevent unauthorized access to sensitive data such as personal information.
Sending alerts via the GDPR software to notify administrators of unauthorized access to records, pending user requests, and required changes to controls for compliance updates.
Centralized view within the GDPR software to capture and track all relevant activities and operations related to the GDPR.
6. Incident Management
The GDPR software generates automated process workflows and reports to document and respond to data breaches in accordance with GDPR guidelines.
7. Audit trail
GDPR software often provides features to track and document which user has made changes to data management settings and when they were made.
Advantages of GDPR Software
Not only does GDPR software help companies comply with the GDPR, it also provides the following additional benefits:
Improving overall cyber security: several GDPR software vendors offer not only GDPR compliance features, but also data security features for monitoring applications or networks. This helps improve a company’s overall cyber security posture.
Boosting customer trust: GDPR software not only helps manage customer data on the backend, but also helps capture customer preferences through consent forms and opt-out buttons. Such visible signs of commitment to protecting customer data help build trust and loyalty.
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