M-Files Corporation, a provider of solutions to improve how businesses manage documents and other information, has introduced offerings that help companies better protect their customers' personal data and adhere to GDPR requirements.
The objective of the European Union (EU) General Data Protection Regulation (GDPR) is to simplify and harmonize data privacy laws across Europe, and give EU citizens control of their Personally Identifiable Information (PII). There are substantial non-compliance fines—up to 20 million euros or 4% of global annual turnover based on the preceding financial year, whichever is greater.
While GDPR is an EU regulation, the mandate affects any organization that handles the PII of an EU-based individual, whether or not the organization is based in the EU. GDPR goes into effect in May 2018 and many organizations are taking steps now to ensure they are prepared to adhere to the new regulation, says M-Files.
The point of GDPR is to ensure that explicit policies and procedures for handling personal information are in place, and M-Files is helping organizations meet this requirement, said Mika Javanainen, vice president of product management at M-Files Corp. It's also mandatory to ensure that employees are trained on and adhering to those procedures, added Javanainen, noting that M-Files helps to automate the process for businesses, while also making it easier to provide supporting evidence to GDPR auditors.
M-Files is a scalable and flexible information management solution that enables organizations to better manage personal data and PII by controlling and tracking such information, including that handled by third-party "data processors." With M-Files, organizations can implement and enforce policies and processes associated with handling personal information, as well as ensure that employees have completed the associated necessary training. A critical aspect of GDPR compliance is the ability to quickly demonstrate the steps taken to meet GDPR requirements. M-Files makes this fast and easy with powerful audit and reporting capabilities that allow companies to efficiently produce the documentation and other information necessary to respond to auditors' requests.
Personal information often resides in a host of different systems, network folders and other information silos, which makes it even more challenging for companies to control and protect it, said Mika Javanainen, vice president of product management at M-Files Corp. M-Files integrates with existing systems and repositories in a manner where information can remain in place, in its original location, without disturbing existing systems and processes, enabling companies to continue to leverage their legacy systems while also adding the information management functionality needed to protect personal information and adhere to GDPR requirements.
For more information about addressing GDPR requirements with M-Files, click here.