Tag Archives: compliance

Former Gartner executive Richard Stiennon on GDPR: organizations have to comply with the most intrusive technology regulation ever

PRAGUE, Czech Republic, May-1-2018 — /EuropaWire/ — ZOOM International, a leader in call recording, workforce optimization, and compliance software for the omnichannel contact center, today announced support for the European Union’s General Data Protection Regulation (GDPR). By making simplicity, speed, and cost-effectiveness the goals of the release, ZOOM has created a new industry standard—companies who need to support GDPR in any region of the world don’t have to purchase and implement more software. GDPR support is a standard part of the ZOOM 6.3 Suite.

Former Gartner executive and Chief Research Analyst at IT-Harvest, Richard Stiennon, explained the scenario in a November 2017 article on Forbes, “The looming imposition of a new data protection regulation in the EU is already sending tremors through the legal and IT worlds as organizations wake up to the fact that by May 25, 2018, they have to comply with the most intrusive technology regulation ever. Law firms and consulting firms are starting to use phrases like ‘this is Y2K all over again.’”

Companies in and outside the EU are taking immediate action to make applications compliant while also planning for larger, cross-department initiatives in parallel. For any company (in any country) managing EU citizen data, fines can be as much as €20 million or 4% of global annual revenues. To add to the pressure, many WFO vendors force additional software purchases of complicated “compliance suites.” Unlike ZOOM, these companies add a burden, creating additional friction for their customers—forcing longer timelines for decisions, approval, and implementation.

“GDPR is a monster of a regulation for companies to tackle,” explained Brian Shore, CEO of ZOOM International, “So, we designed ZOOM 6.3 to simplify and streamline the effort it takes to achieve GDPR compliance. It also gives customers enough flexibility to evolve over time without becoming a beastly, bloated, and outrageously expensive application—like we see from many of our competitors. In addition, GDPR truly puts the ownership of data completely in the consumers’ hands, even allowing them to have all their data erased. To address this, companies really need quality management software more than ever. Perhaps they could afford to have upset customers in the past, but now it is much more expensive. GDPR will enable a different type of attrition than we have ever seen in the history of the world.”

Full news release…

GRC (Governance, Risk and Compliance) is a recent acronym that has quickly spread among the senior management community around the world

Initially this was sparked by the fallout from a number of major corporate governance scandals, including those affecting Enron, Tyco and WorldCom; all of which led to the enactment of the US Sarbanes-Oxley Act and the concept of a more holistic view of Governance, Risk and Compliance. Interest has also grown rapidly in the UK as legislation and compliance requirements have increased.

Traditionally, most organisations ensure compliance with legislation, regulations and standards by instructing each department to determine the requirements for compliance and specify actions and controls to achieve this. Organisations will therefore have a number of organisational departments for business continuity (possibly aligning with BS25999), for IT security (in many cases aligning with ISO27001), for quality management, etc.

They will certainly have risk management carried out by these various departments, all identifying risks and controls and also individually reporting on these. Managing all of this and pulling it all together into a coherent picture upon which business decisions can be made and priorities can be based in an efficient and effective way is a complex challenge.

commissum’s Principal Assurance Consultant André Coner noted that as the number of legislation, regulatory and compliance requirements increases, the number of departments involved also increases, each defining their own controls and measures. This silo approach causes each department to “re-invent the Wheel”, wasting valuable time and increasing costs while introducing duplication, redundancy and confusion.

commissum’s approach to Unified Governance, Risk management and Compliance creates a common source of information. It creates a common model of the organisation; a unified methodology for managing risk, controlling deficiencies and measurement.

Via EPR Network
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