How Electronic Signatures Enhances Your Organizationby Mahender Bist CEO
Despite the myriads benefits that come with digitalization, there is a critical issue that can’t be disregarded any longer: the appropriate and inappropriate use of data in digital form. Digital data has been easily accessible to organizations, and privacy laws in recent past have been almost non-existent. The 1995 Data Protection Directive created by the European Union is now obsolete as technology has evolved over the years. Driven by various privacy scandals and data leaks, the EU revised this directive by introducing The General Data Protection Regulation (GDPR).
The GDPR is a new and tight directive that aims to improve protection for personal data and harmonize the different laws surrounding it among EU member states.
Who is affected by GDPR?
Beginning May 25, 2018, any organization that processes and holds personal data of EU citizens will be affected. It doesn’t matter if that organization is based in the EU or elsewhere. Organizations who fail to comply with this regulation risk serious penalties. The minimum fine for defying the new rule amounts to twenty million Euros or 4% of the organization’s global turnover (whichever is higher).
Meeting GDPR requirements with e-signatures
In light of the fresh requirements, many organizations must seriously review their data handling processes, the applicability of GDPR, and the things they may need to implement to ensure compliance.
Here is how electronic signatures can help you seal the liability-gaps in two key areas targeted by the GDPR: data contracts and consent.
Created on Feb 28th 2018 01:23. Viewed 259 times.