In KMWorld’s recently released ECM Best Practices report, Systemware’s Director of Solutions Delivery, Sean Furrh, outlined 5 Essentials for a Modern Content Services Platform to manage your organization’s valuable information assets. In our previous blogs from this series, we covered: A Robust User Experience, Deployment Flexibility, and A Quick and Easy Migration Path. In this blog, we will take a deeper dive into the 4th essential – Mitigating Risks by Satisfying Current and Future Compliance Requirements.
Data privacy has become a top priority for organizations and is expected by today’s consumers. A recent Pew Research study found 62% of Americans believe it is not possible to go through daily life without companies collecting their data. The need to protect personal data has become mission-critical across all industries, ushering in compliance challenges and opportunities for competitive advantage, while ensuring a satisfactory user experience and continued brand loyalty. It is imperative that customers feel confident in their decision to trust companies with their personal data.
GDPR-The First Step in a New Era of Data Privacy
EU’s General Data Protection Regulation (GDPR) took effect on May 25, 2018, paving the way in a new era of data privacy. The GDPR ushered in new laws for consumer protection by providing EU residents’ control over their own personal data regardless of where it was collected, stored, or processed and a precedent was set for harsh penalties in the event of noncompliance. Europe’s General Data Protection Regulation (GDPR) was landmark privacy legislation and the first major effort by legislators to offer consumers more legal protections.
The California Consumer Privacy Act-Just the Beginning for the U.S.
The California Consumer Privacy Act (CCPA), which came into effect in January 2020, marks the first similar step in the United States. Much like the GDPR, this legislation gives consumers the right to erasure, or right to be forgotten, and places limitations on businesses for storing information beyond necessity. CCPA requires businesses to notify people of the intent to monetize their data and to give people the opportunity to opt-out of that monetization. One difference between the CCPA and the EU’s GDPR is that the CCPA has a broader definition of personal data than GDPR. The CCPA includes not just the data but also the information around the data that infers about a customer, such as shopping preference.
Most organizations store personal data in multiple repositories and systems, but lack an easy and straightforward way to search, access, and secure information across repositories. In such a case, organizations must have processes in place to locate data in files that are oftentimes enormous in size—and securely delete it without affecting the integrity of surrounding data. Organizations are at risk of fines, penalties, and a damaged reputation for improper handling of personal data or for storing information beyond necessity. As you can see, the cost of doing nothing is high. Modern content services platforms enable the identification of content with granular indexing and useful metadata—processes that are time-consuming, if not impossible, with traditional legacy ECM systems.
The Systemware Difference
Regulations such as the CCPA are not something you simply “solve” — They require a continuous series of best practices and internal processes to manage personal information better. Systemware Content Cloud provides customers the ability to securely find, extract, and manage the exact content needed and gain the valuable insight necessary to address any compliance challenge. Robust encryption, data masking, user roles, and secure group access helps ensure your organization can mitigate risks by staying ahead of current and future compliance requirements. Read more in the full report – 5 Essentials for a Modern Content Services Platform
Want to see it in motion?
For a free demo, or more information about Content Cloud, contact us to speak with a content services expert at 866.533.1514. Learn more at www.systemware.com. Follow us on Social Media (LinkedIn, Facebook, Instagram, YouTube, and Twitter) to keep up with all the latest news and product offerings.
Systemware has been a pioneer in enterprise content management for nearly 40 years, helping organizations capture content from a variety of business systems, find it wherever it is stored, and deliver it in the context needed for each business line. Our content services platform, Content Cloud, helps organizations modernize their content management, connect with a range of repositories and systems, automate their processes, personalize their experience, and enable their content for business intelligence. Systemware is committed to ensuring organizations meet information governance requirements in a manner that optimizes cost and complexity while providing a tailored experience for users.