Preparing the retail sector for GDPR

One year down, another to go. May 25th 2018 is the D-Day for the General Data Protection Regulation, or GDPR, and yet research would suggest that some oganisations have some way to go when it comes to compliance. According to IDC Research, 25% of companies are unaware of GDPR with a further half unsure of the impact for their organisation. With so little time left to get ready, it has never been more vital for businesses to prepare and understand the substantial changes the regulation will bring. Businesses in retail have even more on their hands, due to the fact that we are now firmly living in the age of the consumer. For retail, a people intensive sector, the journey to compliance will be a challenging one – but one that can be achieved.

Firstly, it all comes down to where you currently are on the GDPR journey. Is the threat of a €20m fine keeping you awake at night? Are you prepared to scrub your systems of personal data? Can your business report security breaches to the ICO within 72 hours? The first step to compliance is to map where you are and where you need to go on your GDPR journey – and like any journey, the destination is as important as the people you are travelling with. There are many willing passengers on the GDPR road ahead with everyone seemingly talking about GDPR - mainly because everyone is going to be affected by it. However, are the right people in your organisation taking responsibility for the impending regulation? Who is taking responsibility? Much talk has surrounded the importance of a Chief Data Officer, but retailers also need to see the importance of getting board-level ownership – after all, GDPR requires a robust governance model and encompasses all data held by a company, not just in IT.

Sometimes it is hard to see the wood for the trees, which is why Veritas has joined with CBR to host an exclusive dining club dedicated to GDPR. Share your journey and gain GDPR clarity and transparency by joining with peers to discuss the GDPR road ahead – the challenges, ownership and impact of the impending regulation.