In a byline published in Version2, PA Consulting Group discusses the introduction of the new EU General Data Protection Regulation. With the new regulation, personal data will become better protected and public and private organisations will face increased requirements around the protection of personal data of customers and employees.
PA writes: “We see an increase in hacking and data breaches, giving intruders access to personal information about companies’ clients and employees. The problem is that the data protection responsibility often lies with the CIO or the legal department but, in my view, the responsibility should lie with the CEO and the management board as personal data protection requires resources in the shape of both time and money.”
PA encourages top managers to regard personal data protection as an opportunity to increase their company’s competitive position.
PA adds: “The prerequisites are present: We work in a digitised world and information about us and our clients are available in the digital space – and it only takes one hacking attack to jeopardise our data. It’s all about trust and costs because when clients lose trust, the company loses business.”
PA concludes: “Protect your sensitive data as if they were information about you. Brand your company as an organisation that takes its employees and clients seriously. Trust creates clients and clients create business. It’s as simple as that.”