How business process management propels retail, beverage companies toward GDPR compliance
Business process management entails how businesses study, identify, change and monitor business processes and modeling to ensure that they run smoothly while improving those processes over time.
The General Data Protection Regulation (GDPR) is a popular topic among businesses around the globe. The law was originally introduced and adopted into place on April 27, 2016, and allotted a 2-year post-adoption grace period for businesses to meet compliance regulations. The formal enforcement date for fining non-compliant organizations took effect on May 25. Through a survey completed by BPTrends, Newton, Mass., revealed that in some cases, European businesses surpassed U.S. businesses on GDPR compliance by up to 500%. However, it should be noted that many European and U.S.-based businesses are adopting GDPR standards as good practice.
Business process management (BPM) entails how businesses study, identify, change and monitor business processes and modeling to ensure that they run smoothly while improving those processes over time. The data from the BPTrends report shows that no North American organization in 2017 spent more than $10 million on business process work or improvements, while five European companies spent $10-50 million, with one organization investing over $50 million. Process management can assist both European and North American companies in their processes when they become GDPR-compliant, however the emphasis on processes in Europe explains why those businesses are more prepared.