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The GDPR requires all businesses that handle personal data for citizens of the EU’s 28 member countries to follow guidelines on how they collect, use and store that information.
“Business consumers are protected GDPR data subjects, and many B2B practices that collect and process their data must change,” Forrester Research Inc. says in a report entitled “The GDPR and the B2B Marketer,” by analysts Lori Wizdo and Matthew Camuso. “Although the law is often ambiguous and the degree of its enforcement remains unknown, the cost of noncompliance is severe. So B2B marketers must be aware and prepare.”
Businesses found to be in noncompliance with the GDPR face fines of up to 20 million euros ($24.7m) or up to 4 percent of their annual revenue, whichever figure is larger.
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