M-Files Corporation, the intelligent information management company, announced the immediate availability of M-Files GDPR, a new solution that enables companies to better protect and manage the personal data of their EU-based customers and prospects in a manner that complies with the requirements of the General Data Protection Regulation (GDPR).
GDPR simplifies and harmonizes data privacy laws across Europe and gives citizens in the European Union (EU) better control of their Personally Identifiable Information (PII). Financial penalties for organizations that fail to meet GDPR requirements can be up to 4 percent of a company’s annual revenue or 20 million euros, whichever is higher. Research indicates that with less than a year before GDPR goes into effect, many organizations are ill-prepared for this new regulation. While GDPR is an EU regulation, the mandate affects any organization that handles the personal information of EU citizens.
M-Files GDPR helps organizations control and protect the personal data of their customers and prospects as required by the new regulation. A mandatory aspect of GDPR compliance is the ability to demonstrate and prove that personal data is being protected. M-Files GDPR 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.
"In order to comply with GDPR, organizations must ensure that explicit policies and procedures are in place for handling personal information, and just as importantly, that those policies and procedures are being followed and that they can prove they are being followed," said Mika Javanainen, vice president of product management at M-Files Corporation. "With M-Files GDPR, organizations can easily implement and enforce policies and processes associated with handling and protecting personal information, and by simply making that investment, and showing that they are committed to complying with the regulation, they can dramatically reduce the risk of non-compliance."