At the beginning of this year, Oliver Hach joined the sales and marketing team at parsionate. He is focused on developing new customers and business opportunities in the Master Data Management (MDM), Data Quality Management and Business Process Management markets. He is also an expert on GDPR, the new European regulation that is a critical issue for many businesses as it will significantly affect how they gather, store and manage personal data.
The revised General Data Protection Regulation came into effect in spring 2016 and will have to be adhered to by all companies within the European Union from next year onwards. Progress has been slow in light of the comprehensive changes and tightening regulations which companies are now faced with. Nevertheless, businesses will be unable to avoid implementing the extensive measures and substantial changes to their company structure. While feared by many, the decreed change does contain substantial opportunities for companies.
The Informatica World Tour Germany took place in Frankfurt on November 27, 2017. parsionate was also a part of it and reports about the impressions.
When it comes to the European General Data Protection Regulation (GDPR), many companies appear to be paralyzed. Although the regulation comes into force in May 2018, many have not yet even begun to implement the new guidelines. It appears that the requirements are too great and too far-reaching, and it’s therefore very difficult to take the first step. The GDPR sets out fundamental changes in the management of personal data: Its primary focus is the storage and use of data, as well as consent from the individual. In future, every company that manages or stores personal data of EU citizens must know what data is stored where and how exactly it is used. In addition, the consent of the data owner (the person affected) for precisely this storage and use must be verifiable and the data correct.
Anyone not fulfilling the requirements can expect staggeringly high fines of up to 4% of the company’s turnover or 20 million euros.
At present, Data Governance and Compliance are the subject of particular attention due to the upcoming General Data Protection Regulation (GDPR). On the EMEA Data Governance & Compliance Summit Informatica presented their software solutions to support customers with the GDPR regulations, data quality and data security. Furthermore, the attendees gained great insights by presentations of Best Practices from Informatica customers.
Data is the critical foundation for everything
Digitisation is all around us and it happens in every industry. The choice companies have to make is a rather simple one: You can either drive the business as a leader or desperately try to catch up. On the EMEA MDM 360 Summit Informatica encouraged the attendees to be a disrupter, be ambitious and to rethink their businesses. For those who are afraid Ron Matusof, VP Advanced Customer Engineering, recommends: The thing about innovation is, that your idea never existed before so you cannot make the perfect plan. Just make the best decision you can with the information you have and stay flexible.
Some of you know our company since it was founded in the autumn of 2013. Our colleagues and we are grateful for the encouragement and support we have received from you over the past few years. When we decided, in summer 2013, to set up a company, we could not possibly have imagined that, only three years later, we would be employing more than 60 people at different locations. But we were confident that with our focus on processes to support digitisation we had found an issue that would be very important to our customers at home and abroad.
Today, parsionate is one of the fastest growing companies with this kind of portfolio in Europe. And we will continue to accelerate our growth: As part of a management buyout, parsionate’s management team and two commercial investors acquired RS Media Group AG’s shares of our company. In addition, the parsionate Group GmbH was founded as a holding company.
Meet parsionate on the Informatica EMEA MDM 360 Summit and find out how Master Data Management is pushing your Digital Transformation!
Information logistics projects are challenging. Poorly organized, they will last longer and will end up costing much more than planned. Digitization requires centralized, optimized and automated processes. Businesses need to rise to this challenge.
Michael Mezger and Marc Hölzle report on their experiences and provide valuable tips on how to avoid common mistakes and complete your project on time and on budget.