OpusVL has partnered with Metering & Smart Energy International, to host a webinar discussing the General Data and Protection Act (GDPR) and its implications on businesses.
The webinar highlighted the readiness of European companies in adopting the regulatory framework and the requirements for business, particularly utility companies, to comply with the policy.
OpusVL CEO, Stuart Mackintosh presented on the need to implement ways to manage GDPR compliance. This new policy will enable the EU’s transition into digital economies and allows automation of business processes, will enable self-service, improve data security and advance the digital economy.Are we ready?
Some governments within the EU (and the UK) have failed to adequately inform stakeholders, consumers or residents about the policy. There has been limited action educating the public about the GDPR and its implications and protections in the UK over the past two years. Stakeholders across multiple sectors have stated that the UK Government has been slow in preparing support to inform and prepare organisations for this new policy.
Even though we are still a few weeks before GDPR is enforceable, there is still a lot of confusion and issues not yet resolved. Some will be resolved through court cases and through people falling into the grey between what is and what is not clear.
How does GDPR affect the utilities sector?
Utility companies that outsource meter reading processes need to be sure that a consumer’s personal details, home addresses, meter data and related information, is stored securely, with minimum amount of information needed, and for as short a time as possible. Once this has been transmitted, the data should then be erased from the contractor’s files.
Third parties with consumer data during field meter readings need to make sure they properly manage the information they have. It is suggested that utilities centralise their data storage and have third parties collect and process information and send it back automatically.
Are you prepared?
If your business has not yet prepared for GDPR, there is still time to begin preparation, but there is difference between meeting minimum compliance requirements, and also doing this in a way which allows a business to continue running smoothly and efficiently.
GDPR compliance is a process, you can implement this on paper. It does not need technology. Where technology and big investments come in is the effectiveness of that implementation.
Technology automates the administration activities to help with things such as subject access requests by needing less manual intervention from staff members. The most ideal and effective way of managing a subject’s data would be to enable some form of self-service model.
Watch Part 2 of the Webinar
Watch the next discussion on Thursday, 10 May 2018 at 15h00CET, where Stuart will focus on GDPR implementation and how effective compliance will give your business the competitive advantage.
This summary is based on the article written by and published on Metering & Smart Energy International on 18 April 2018 (www.metering.com)