What is GDPR? It is a global law that manages how personal data of customers must be handled by businesses. However, the law does not only apply to EU businesses. It applies to any business entity, regardless of the location, that deals with EU customers. So even if your business is in the US, Africa or Asia, you are still covered by this legislation as long as you store or process the personal data of people who live in the European Union.

Businesses who do not comply with the GDPR requirements will face hefty fines of up to $24million or 4% of their annual global turnover, whichever is higher.

So what does GDPR mean for you? How can you make your business compliant to the new regulations?

1. Assess your organization and determine what needs to be done to improve your information security.

Review the requirements of GDPR and analyze the implications of this law relative to your business processes. Make sure that decision makers are aware of what the legislation entails for your business. For some businesses, the changes will impact several departments so the sooner you get everyone on board, the sooner you can sort out the changes that need to be done.

2. Conduct an Information Audit.

Analyze what personal data you collect, store and process from your customers. You also have to check where this data comes from and to whom you share it with. One of requirements for businesses is to keep a record of the processing activities, as well as the policies and procedures being implemented.

If you’re working with an outsourcing partner, you should also be aware of the risks that come with sharing information outside your organization. To make sure your customers’ data is protected, work only with ISO-certified offshoring companies because they have their own information security procedures that meet a defined international standard.

3. Update your privacy notices.

Your customers should be fully aware of what data you are collecting, how you are going to use that data and who will have access to their data. Your customers should also provide explicit consent – a very clear and specific statement of consent.

4. Protect the young.

GDPR has very strict guidelines when it comes to dealing with personal data of minors. Check if your system has a way of identifying the ages of your customers and make sure you get parental or guardian consent before processing children’s data.

5. How do you handle a data breach?

Do you have a detailed game plan in case a data leak happens? Is your plan consistent with the requirements of GDPR? It is time to analyze your contingency plan because it’s better to be prepared than be caught off guard when these things happen.

GDPR is not the enemy. It is simply a tool designed to help protect your customer’s data. The sooner you get your head around the specific details, the sooner you can implement changes within your organization.

If you want to learn how to engage in outsourcing while still being GDPR-compliant, contact Global Strategic at (02) 638-3816 or email us at info@GlobalStrategic.com.

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The average total cost of data breach around the world is $3.62 million per day/month/year?. Data breaches are also costly in the US and Canada, with the US having an average per capita cost of $225 and Canada $190. The average organizational cost of data breach in the US was s $7.35 million and there is a 5% increase in the total cost of data breach from the previous year.

These are the results of Ponemon Institute’s 2017 Cost of Data Breach Study conducted last June. The research wanted to observe the global trends and costs of data breaches worldwide.

This study highlights the importance of having a strict information security policy when working with people or organizations both inside and outside of the four walls of your office. This is especially true for businesses that outsource their tasks to third-party service providers.

The main goal of outsourcing business processes is cost reduction, without compromising quality and delivery. If there are no information security guidelines in place, security issues are sure to pop up. As much as saving money is important, the security of your data is paramount.

So how do you know if your data is safe and protected when outsourcing?

The first thing you have to look for when choosing an outsourcing partner is their ISO 27001:2013 certification. It is the latest and best known information security management system (ISMS) standard that focuses on the data and information security. Working with an ISO 27001:2013 certified outsourcing partner means that there are several layers of control being implemented to protect the security of your data.

Global Strategic Business Process Solutions is a Philippine-based ISO 27001:2013 –certified outsourcing company that caters to businesses all over the world. We implement a wide range of information security controls to ensure that our client’s data is protected throughout all levels of the outsourcing process.

Working with an ISO-certified third-party service provider like Global Strategic allows you to:

• Provide information security guarantees to your customers, clients, investors or stakeholders.
• Reduce the risk of incidents and the costs involved with unauthorized data access and information loss.
• Ensure safe management and processing of information resources.
• Increase your overall efficiency.

As a whole, any trustworthy outsourcing company should have an effectively implemented information management system, tight security policy and efficient process control in place. This means that all of the company’s internal processes and departments have been audited- both internally and externally- to ensure that they are providing quality service and are utilizing the highest security measures at all stages of the outsourcing process.

Most importantly, get everything in writing. The contract should specify exactly what is expected of the outsourcing company, how the data will be processed and what will happen if there is a breach. The contract should also outline the information security guidelines that will be implemented during your cooperation.

Outsourcing doesn’t have to be risky. If you want to know more about Global Strategic’s outsourcing services without having to worry about your sensitive data, contact us at Info@GlobalStrategic.com or call (02) 638-3816.

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Global Strategic Business Process Solutions, Inc. is an ISO 27001:2013 certified company. This certification provides enhanced data security and integrity both internally and to all of our clients. It also plays an important role in sending a valuable and important message to customers and business partners alike, both present and future, that our company does things the right way. Additionally, the numerous benefits provide a competitive advantage, especially in the Outsourcing industry where trusting your partner is the most crucial part of a client/provider relationship.

Some of the benefits include:

• Demonstrates a clear commitment to data security- including confidentiality and strict accessibility rules;
• provides procedures to manage risk;
• keeps confidential information secure;
• provides a significant competitive advantage;
• ensures a secure exchange of information;
• creates consistency in the delivery our services;
• allows for inter-operability between organizations or groups within an organization;
• builds a culture of security;
• protects the company, assets, shareholders, employees and clients;
• gives assurance that a third party provider takes your data security (and your business) as seriously as you do

By adhering to the ISO 27001:2013 Standard, this means that Global Strategic must impose proper controls and actions in storing, monitoring and maintenance of data. The presence of this internationally recognized certification allows our company to demonstrate that we have policies, guidelines and procedures in place for continuous monitoring and protection of third party information. It also provides assurance that Global Strategic and our staff are committed to being leaders in an industry where third party data access across multiple countries and locations are at the core of the service provider business model.

Cutting corners and taking shortcuts is never the right way to operate a business. It is even more significant and crucial when sensitive, confidential, and valuable information is at stake. Global Strategic believes in running a business the right way- providing our clients and staff the information security and protection that they deserve.

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