The big data protection challenge
As Legal Counsel, you are an important player in your company’s data protection processes. To minimise legal risk, you need to ensure your company’s legal information is safe from a data breach. If not, regulators and shareholders might allege that your company directors breached various fiduciary duties by not mitigating the data security risks known to you!
What’s more, if a data breach involves personal data, which is regulated under the General Data Protection Regulation (GDPR), your business may be subject to penalties of up to €20 million or 4% of your global revenue. Depending on other local data protection laws, you may also face administrative, civil and criminal penalties and/or damages claims.
With so much at stake, you need to manage the risks.
The small but powerful effacts solution
effacts respects the highest security standards to keep confidential legal information safely stored and protected against unauthorised access, corruption or loss. With role-based access rights to keep data stored confidentially, you have full control over who has access to your data at all times.
What’s more, effacts can assist you in standardising and automating processes on your journey towards GDPR compliance. The Data Privacy dashboard provides you with a strong tool to manage and report on your data processes and unexpected data breaches, helping you accelerate your own compliance
Five ways you can put effacts to good use in managing data privacy
1. Ensure your legal data is secure
effacts keeps your data backed up and protected from unauthorised access, intrusions and accidents. With role-based permissions, you can restrict access to sensitive data.
2. Consolidate data privacy information in one place
Maintain an archive of data privacy information, including data processing agreements (DPA), that is easy to access and audit by entity, department, data controller, data processor and more.
3. Track data processes & generate reports
Register data processes across your organisation, show you comply with legal obligation with a data processing report and track any personal data used by your business.
4. Establish data breaches reporting processes
Record data breaches and related reporting to supply to data protection authorities, keep track of notification periods, and assign reporting tasks to accelerate response time and avoid penalties.
5. Assess your data privacy risks
Proactively assess potential data breach risks, impact, and likelihood before it happens to accelerate compliance across your organisation.
The transformative effect of effacts
effacts helps legal departments mitigate risks and take the appropriate response in the event of a data breach, in compliance with GDPR.
Download the complete use case