If your business burns on the new personal data rules, it could, in the worst case, mean bankruptcy. The startup company Elvium has already targeted its core product, but the experience that neither customers nor colleagues know about the new personal data regulation.
The new personal data regulation has been adopted and applies from 2018. But there is a long time until 2018, so why to concentrate on personal data rules now, you think. Because it takes time to update your company on the new rules, and if you do not comply with the rules, you can get fines of up to four percent of the company’s turnover or a maximum of 20 million euros.
“The level of fines is the most sensational part of the regulation. A very large part of the rules in the new regulation is already in the Personal Data Act today. The new personal data rules must make companies tighten up and take the rules seriously, ”says lawyer and expert in the Personal Data Act
It contains the Personal Data Regulation
The purpose of the regulation is for individuals to have greater control over their own data, while at the same time ensuring a legal framework for the digital single market in the EU.
In practical terms, you as a company must be in control of the personal data you collect, and at the same time, you must be able to document it.
The regulation dictates, for example, that you must have a Data protection officer if, for example, as a company, you work with particularly sensitive personal data. The regulation works with “the right to be forgotten” and, as today, there is a focus on deleting data and consent. It is precisely this last point that the startup company has addressed.
Eluvium offers recruitment software. Here, companies can, among other things, receive and process job applications. The applications contain personal data, and therefore there are, among other things, requirements that both the data is in control and that the applications are deleted again.
Guards you against errors via external advice
Eluvium has already chosen to go in and adjust their software so that it lives up to the upcoming rules. They do this to make sure the software is ready for next year. However, they feel alone about the change, and they regularly meet both customers and colleagues who have not yet familiarized themselves with the new regulation.
“Some of our customers simply do not know that new rules are coming,” says Elvium director Jesper Andersen.
Eluvium is collaborating with lawyers to customize the software. And it is a good idea to get some external people to check whether both the company’s product or service and the company itself live up to the new rules, says Karina Lind Bertelsen:
“If you do not follow the rules, it can go wrong. And the rules are strict. On the basis of this, you can consider running your business in the form of a company, as in this way you delimit your personal responsibility, ”she says, but believes that there may be other factors, such as tax issues, that she does not want to recommend. , that you run your business in the form of a company.
Use the rules as a competition parameter
With the regulation, the enforcement of data rules in the EU is more similar, and it thus becomes easier for companies with companies in several countries, says Karina Lind Bertelsen. She sees the regulation as a necessity that must be taken seriously. For in general, we have all gotten into the habit of sharing sensitive information with each other all the time.
The personal data regulation may sound confusing to many, and some are worried that it will slow down development. But that fear is probably unfounded, says Karina Lind Bertelsen. She estimates that within a few years, the companies have completely incorporated the rules.
“In addition, the personal data rules can become a competitive parameter. If you as a startup company are able to get the rules incorporated from the start, then I think you can go a long way in relation to those who choose to neglect the rules. In a few years, you can not be a serious player in the market without having control of the personal data rules, ”says Karina Lind Bertelsen.