If you’ve been taking notice of what’s been happening around the world in the realm of privacy legislation, you would know that 2018 was a big year. Not least in the European Union, where the General Data Protection Regulation (GDPR) went into effect in May.
The comprehensive new regulations have shifted practice to a ‘privacy by design’ model where privacy control must be up-front and centre. One area especially affected is the ‘supply chain’ and companies must now ensure their suppliers are compliant with privacy legislation.
Changes in the international privacy landscape can often serve as a benchmark for forward thinking businesses. In an increasingly connected world, privacy is held as core to good corporate social responsibility. Just look at the heat turning up for global giants such as Facebook and Google about how they’re managing customer and third-party data privacy.
Also, business processes and information are becoming just as important as the end product or service. Systems disruption and data loss or corruption along the supply chain can pose significant risk for businesses. Not to mention that reputational damage caused by legislative breaches can spread insidiously through a supplier network.
Knowing your partner/supplier/contractor and their processes is an investment in supply chain data security and business continuity. Here are some questions your management team should consider to enhance your business’s risk mitigation processes in 2019:
- What do the data practices of our supplier/contractor network look like?
- Do we have robust records of our supplier/contractor network?
- Are our supplier contracts clear, outlining explicit performance standards and an exit plan if data security standards are not adhered to?
- Do we have a data centred audit system in place for suppliers and third parties who handle sensitive information?
Finally, it can provide peace of mind to know that the suppliers and third parties you deal with also partner with a reputable document destruction provider.
Confidential Shredding Co is here to help you and your supplier network comply with privacy laws by disposing of confidential documents securely.
Call us on 1300 788 719 for a free no obligation quote or click here to order online.
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