The EU’s General Data Protection Regulation (GDPR) – which applies as of 25 May 2018 – will make it easier for companies to do business across the EU. The reform will help businesses fully benefit from the digital economy throughout the EU’s Digital Single Market.
The new regulation will give EU citizens more control over their personal data and improve their security both online and offline, but could prove to be a technical challenge for the business’, states Ivan Zhitiyanov, Telelink Business Services Executive Director, during an interview for Bloomberg TV.
‘I am optimistic that businesses will quickly realize the benefits of the new regulation once they become familiar and fully understand the main guidelines of the regulation, and will easily cope and find balance. Every single data management system, every standard, in this case regulation, is a balance between business needs, users needs and, of course, the needs of the particular regulator. For example organizations don’t have to hire a full-time employee, instead, they can save money by appointing an ad-hoc qualified consultant as their Data Protection Officer.
A recent study carried out by Telelink and Alfa Research, shows that around 35,5% of the business organizations in Bulgaria are expecting administrative burdens in relation to achieving compliance with the GDPR while 31.6% are unable to determine if the regulation will affect their day-to-day activities’, Mr. Zhitiyanov also comments.