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The General Data Protection Regulation will come into effect in the European Union (EU) on May 25, 2018. The GDPR aims to strengthen the protection of personal data and affects all business operating within the EU. Failing to comply could incur a maximum fine of €20m (£17m) or 4% of global turnover.
Procurement Leaders commitment to data protection and customer-centricity means we welcome the introduction of the GDPR. The new regulations will allow us to further tailor our messaging to both members and non-members to deliver the most relevant and timely content. We have carefully reviewed the requirements of the GDPR and will be implementing steps to ensure the way we collect, store and process personal data is compliant to the new regulations taking effect on May 25, 2018.
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Here are some useful content pieces assessing the impact of the GDPR on procurement and tips on how to adopt compliant approaches to data collection, processing and storage:
May 2018 deadline puts GDPR in the spotlight
Are you at risk from new EU data rules?