Do you have a solid data governance plan in place?
Is it up-to-date?
Do you have a process for achieving it?
If not, you might be at risk aggravating the current data residency and data sovereignty rules and regulations.
With your eye on IT upgrades, data management, and the constant day-to-day interruptions, data governance might be the furthest thing from your mind. But it’s important.
From the management of personally-identifiable data – such as medical records governed by entities such as PIPEDA, DPA, and HIPAA – to data protection and retention compliance for financial records, data governance permeates all types and sizes of businesses.
No matter your industry or company size, you need to understand what is required of you in terms of how, where, and for how long you store your data.
Why is data governance important?
Data governance regulations – as well as potential fines for those companies not adhering to these regulations – are increasing. If you don’t have a governance plan, you run the risk of some very serious penalties.
For example, the EU General Data Protection Regulation (GDPR) came into effect on May 25th, 2018. Its current incarnation, the UK Data Protection Act (DPA) has a theoretical maximum fine of £500,000. But with the new GDPR regulation, fines will reach an upper limit of €20 million or 4% of annual global turnover, whichever is higher.
It assesses these fines based on a myriad of things, with 99 articles in the Act outlining different aspects of data privacy and data management that must be respected. With fines compounding on every individual breach, you can end up with enormous fines – like recent British Airways fine of $229 million.
This means that for many companies, failing to comply with the new regulations won’t just be a pain – it could mean insolvency or closure.
Data governance: Your first line of defence
A good data governance plan will outline how your data is managed. This includes availability, usability, integrity, and security. It must also specify who is responsible for which aspects of data management.
Your data governance plan needs to clearly explain how data will be:
- Stored and protected from unexpected disasters like theft or loss
- Handled by those with the proper clearance, and
- Audited on a regular basis
This plan should take into consideration all of the current regulations affecting your industry, as well as the residency and sovereignty of your data.
Addressing these challenges
PII Compliance doesn’t have to be a strenuous or tedious process. Here at ioFABRIC, we recognize that businesses need software that complements their current data management and storage processes.
Image-based backups are one of the most popular backup types. They are also notoriously difficult to search and alter to comply with current individual rights regulations.
ioFABRIC addresses this issue by indexing all files and metadata so that it is searchable and discoverable across backups and snapshots. It enables erasures of PII within backups and propagates them across all backup instances without corrupting the backups.
Even better, ioFABRIC generates reports of your business’s activity, which you can use as proof of compliance.
Searching and deleting PII data within backups has never been so easy. With ioFABRIC software, PII compliance with Right of Access and Right of Erasure has become a stress of the past.