What is GDPR Compliance?
GDPR Compliance refers to adherence to the General Data Protection Regulation, a comprehensive data protection law that came into effect across the European Union. The regulation establishes strict requirements for how organizations collect, process, store, and protect personal data of EU residents.
For businesses using accounting, HR, and payroll systems, GDPR compliance is particularly significant as these functions inherently involve processing sensitive employee information including names, addresses, tax identifiers, bank details, and salary information. Organizations must ensure they have lawful bases for processing this data, typically relying on contractual necessity or legal obligations.
Key GDPR principles require that personal data must be processed lawfully, fairly, and transparently; collected for specified, explicit purposes; kept accurate and up-to-date; stored no longer than necessary; and secured with appropriate technical measures. Individuals have rights including access to their data, correction of inaccuracies, erasure in certain circumstances, and data portability.
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