It is early 2017, but May 25 2018 will be here faster than we think! That’s the day the new General Data Protection Regulation (GDPR) will officially be enforced. So this year will be a year of preparation for SaaS companies in the US and the EU.
We understand the potential ramifications that the new regulation may have on companies that do not comply…
One of which is the price tag attached to companies who violate the regulation. For the highest offenses a company can be fined up to 4% of their total global turnover from the previous financial year, or €20 million…whichever is higher.
Another is, US companies that are not certified with the Privacy Shield Framework could face interruptions in their flow of data if they have customers that are EU citizens.
There also seems to be some uncertainty about whether or not the US will be technically required to uphold the same safety standards the EU has outlined.
Planhat has recently seen a lot of European customers come on-board our platform. We are happy to announce that our customers now can choose if they want access points and data storage within the E.U. or if they prefer to be set up on our infrastructure in the U.S.
By allowing customers to choose where their data is stored we are helping them to avoid some of the aches and pains that could be associated with adjusting to the new regulation. But equally important, it means a more responsive for you as a user.
For more information on the new GDPR and how it can affect your business, read this report.
And for more information on what Planhat has done to ensure compliance, you can read about it here.