Are You Ready?
The clock is ticking and businesses are running out of time to get EU GDPR compliant. Learn how to meet the challenges of your business – and comply with the legislation in the process.
October 2017: EU GDPR preparedness may raise some eyebrows. EU-what? The EU General Data Protection Regulation is a new legislation from the EU, effective as of 25 May 2018, which will affect any organization which collects, manages, and stores privacy data. These companies therefore need to have the necessary security controls, policies, and technologies in place in order to ensure and prove continuous compliance. And this goes for not just EU-based businesses, but any organization dealing with privacy data of EU citizens.
How IAM can help
Identity and access management is a core building block for EU GDPR compliance. With a solid identity and access management strategy in place, organizations are better suited to comply with the legislation. Making the strategy a priority in not just the IT department, but from the very top of the company at board level, means getting a solid solution in place gets the necessary focus.
Privacy data and an individual’s right to control over his or her own data is at the heart of the legislation. Identity and access management solutions enable an organization to comply with the EU GDPR, by providing the overview of identities in the system, getting in control of the identities and managing consent in the systems of the individuals and their privacy data. An organization is thereby also able to erase identities and notify them in the event of a breach, as 72-hour breach notification is part of the legislation.
Most organizations are filled with privacy data, be it either from HR systems, partner information, customer data or other, and while many companies have a solid identity and access management strategy and plan in place, many have still not prioritized it.
The business case
An identity and access management solution makes sense even beyond the EU GDPR, though.
Identity and access management protects the organization from both the internal and the external threat. While many IT attacks happen from the outside, the majority are still insider attacks, from disgruntled employees or someone who has access to files they should not have, among others. The technology also allows for clear segregation of duties, for example to make sure that the IT Manager does not have to audit the IT Manager, also to keep fraud at bay, and to boost new business, such as for example managing customer identities and improving the relationship with customers.
In highly regulated industries such as the finance and pharma sectors, identity and access management is already used to improve cybersecurity and ensure that employees, contractors, and partners only have access to what they need to carry out their jobs – and that they have the data to prove it for auditing purposes.