The new EU privacy law (also known as General Data Protection Regulation, GDPR) aims to bring order to a patchwork of privacy rules across the EU. Norway and EU member states have to transpose the EU privacy law into their national law by 25th of May 2018. The new law will replace the existing EU data protection directive. All local data protective agencies in all markets where Visma operates have stated a strong focus on ensuring that companies are compliant with the EU privacy law.
The penalty for not complying with the EU privacy law will be up to 4% of the corporation's total revenue if convicted. This means that any Visma business unit not following the EU privacy law can risk 4% of Vismas total revenue.
Corporate Management has set up a high priority project group led by Jørn Ludahl, Director Customer Loyalty, to ensure that all business units will be compliant to the new EU privacy law by May 2018. The project group has published the Visma Privacy Statement on all Visma domains.
The new laws requires several changes in Visma, including changes in marketing communication and subscription processes, in order to be compliant by May 25th 2018.