The cost of not complying with GDPR

Higher education institutions and their vendors are entrusted with protecting a number of different types of data, from personal information about students, faculty, and staff, to research data about individuals or about sensitive technologies and practices.  Numerous laws address how to protect these types of data, and higher education professionals must be aware of these laws and prepared to respond to them. The EU General Data Protection Regulation is one of those laws.

In this culture, which values transparency and openness, being able to clearly describe how we use and protect the personally-identifiable data of our constituents, no matter where those constituents are located, is of great importance.

Here are three reasons GDPR should matter to your institution:

1. “If you don't have time to do it right, when will you have the time to do it over?”  -- Coach John Wooden. Undoubtedly to move your institution to compliance will necessitate a financial element and may involve work slowdowns and adjustments. However, not following due diligence may result in major setbacks, significant consequences, and an even greater financial impact.

2. Get with it, or get passed by. EU GDPR is not the first and certainly won’t be the last of the privacy regulations from around the globe. If you don’t comply, students may go elsewhere. Moreover, your "churn rate" may reflect that dissatisfaction, as customers or subscribers sever ties with you over time because you haven’t been proactive in complying with GDPR or other privacy regulations

3. Don't be a target. If everyone else has dealt with privacy and risk assessment you could be the easy breach target, which can have devastating long-term costs to your reputation and finances. 

For more information on GDPR information and resources, please visit the Trending Topics page.

And join our free webinar on GDPR on January 24 @ 2pm.