Technology Trends for Business Owners
Technological advancements have not only made communication and operating international businesses possible but also more profitable than ever. Businesses small and large can no longer afford to limit themselves to local markets. However, with global expansion, there is the additional danger of being vulnerable to fraudsters, hackers, and negligent data breaches. Any entrepreneur can learn to utilize specialized technology to protect their investments and their client data.
Customer Relationship Management Software
The days of the Rolodex have long since passed, although the information and contacts contained within them remain invaluable to businesses. Customer Relationship Management (CRM) software has quickly become the norm for businesses and law firms everywhere. The advancement in cloud technology has made it possible for businesses to accurately and efficiently manage clients and customers from anywhere in the world. Legal firms are now equipped with a database of information that requires little to no effort to manage case files efficiently. Even documents may be conveniently transferred to and from clients for signatures or filing.
Data Protection and Compliance
Data encryption has always been necessary to protect sensitive documents and personal data. This technology has thankfully become more accessible over the years, but evolving legislation can quickly move a business out of compliance. Recently, Jamaica passed the Data Protection Act, which outlines the requirements for all aspects of processing personal data. The act includes how data is collected, stored, used, and destroyed, and applies to any person or business that processes data through Jamaica.
The Data Protection Act protects both consumers and businesses by refining standards in data processing. Companies will be required to ensure the data that is processed is in accordance with the principles of the Data Protection Act and overseen by an appointed data protection officer. Additionally, businesses and entities will be required to register with the information commissioner, pay an annual registration fee, and file a data protection impact assessment to stay in compliance. There is a short grace period to adhere to the guidelines, but lack of compliance will result in the company being fined up to 4% of its annual gross worldwide income.
How Can Businesses Keep Up With Requirements?
The attorneys at Ramsay & Partners are experienced and dedicated to working with companies to aid them in meeting their obligations under the Data Protection Act. Partner Samantha Moore works as a data protection consultant, and is a Certified Information Privacy Professional/Europe (CIPP/E). If you have questions about the Data Protection Act or would like to schedule a conversation regarding your business needs, Contact our office.