I wrote about the General Data Protection Regulation (GDPR) last month, a data privacy law that deals with how companies/non-profits handle personal information from people in Europe.
The deadline nears: Friday, May 25. All organizations who do business in Europe are required to comply, with penalties for noncompliance at 4% of global revenue or $24 million, whichever is higher.
In an effort to help companies comply in time, the law firm Parsons Behle & Latimer formed a subsidiary, Parsons Behle Lab, that automates all the documents needed for the GDPR. The product is similar to TurboTax for GDPR documents: GDPR IQ. In many cases, GDPR IQ is less than 1/10 the cost of a lawyer to generate the same compliance documents. Questions? Here’s a short video about the regulation and the automated software:
Using GDPR IQ, most companies can complete the necessary paperwork in less than a day. Since the release of GDPR IQ in March, hundreds of companies from 15 different countries have used the software.
Kimball Parker, president of Parsons Behle Lab, on the impending regulation.
“Millions of businesses and nonprofits in the United States interface with Europe and will be required to comply with the GDPR by May 25. With the compliance deadline fast approaching, we recognized that small to midsized businesses, as well as nonprofits, need an affordable, timely way to generate the voluminous legal policies and documents necessary to comply. What would take an attorney months and potentially cost hundreds of thousands of dollars now takes minutes with GDPR IQ, for a fraction of the cost.”
Still have questions? Call 801-536-6710 or email contact@gdpriq.com for your answers.
