The General Data Protection Regulation (GDPR) is a European Union regulation that contains principles and guidelines for businesses about protecting the personal data of EU residents. It is coming into effect in the EU on 25 May 2018, and the Zoho Finance Plus’ feature enhancements will help you stay GDPR compliant.
GDPR has laid down six key principles for organizations, based on which they should process personal data. It mandates that personal data shall be:
If you’re a business in the EU or have customers or vendors there, it is mandatory that you are GDPR compliant. So, it is important to take the necessary steps to be GDPR compliant. And we are here to help you be compliant.
Businesses that are found to be in violation of GDPR will have to pay a fine of 20 million Euros or 4% of their preceding fiscal year turnover (whichever is greater).
At Zoho, we always believed in keeping our user’s data private and secure. We never share our user’s data with any third parties unless a user requests it explicitly. We are sincerely committed to keep our user’s data safe and to fully comply with the GDPR.
Disclaimer: The content provided here is not to be taken as legal advice. Please contact your legal advisor to learn how GDPR impacts your business and what you need to do to comply with it.