GDPR: A new European Union regulation

The General Data Protection Regulation, will come into effect on May 25, 2018 in Europe!

It concerns all companies headquartered in Europe, but also all international companies that collect, process and store personal data collected in Europe, regardless of the company location. Switzerland is therefore fully concerned, being at the heart of Europe. The purpose of this law is to make it easier for people to control how their data is collected, used, shared and stored.

The new data protection law is designed in such a way that companies will first have to obtain the consent of individuals to use their emails. HR will be required to respond within 30 days to requests from former employees who wish to erase their data and records. As these measures come into effect as soon as May 25, 2018, there will be no transitional period or flexibility for businesses. If your organization does not comply with this deadline, you will be entitled to a fine of up to 20 million euros or 4% of your annual total turnover, whichever is higher. For Heads of Procurement, it is therefore essential to know if one of your suppliers or a third party with whom you work may be considered non-compliant with the requirements of the GDPR. This new European law will fully impact procurement functions. This will be an opportunity to simplify the way you work, to digitize and modernize your procurement.

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