As it was published in the Latvian edition of the newspaper Dienas Bizness, preparation for the requirements of the EU General Regulation on Data Protection was an investment in the future. However, for entrepreneurs this meant more and more costs.
According to Ieva Smirnova, head of the department for regulation and support of the Lattelecom company, “Our company introduces the latest solutions to meet the requirements of the regulations.” Two and a half million euros have been invested in two years, and investments are expected to continue. ”
The process of preparing for the introduction of the requirements of the enterprise regulations begins with the assessment of compliance, which, as a rule, includes the assessment of business processes, legal processes and IT solutions in the enterprise.
The cost of the evaluation in case of involvement of external experts, can reach 20 thousand euros without VAT, which depends on the amount of data processing and the complexity of the IT environment, says Rudite Springe, manager of IT consulting Deloitte. One of the most important positions is the training of employees in the field of privacy protection.
