April 30, 2020

GDPR Coverage Costs

“Every organisation or sole trader who processes personal information needs to pay a data protection fee to the ICO, unless they are exempt.”

Data Protection FeeMicroSMEEnterprise
Turnover BandUp to £632,000Up to £36mOver £36m
Employees BandUp to 10Up to 250 Over 250
Fee Cost£40£60£2,900
Data Protection fees details from ICO website

But there are also the costs of ensuring you undertake the requirements of the legislation – and these will be unknowable as they totally depend on the operations and approaches you use for your organisation.

It is these unknowable costs that will be far more than the data protection fee costs as they involve:

  • enacting the legislation through the organisation,
  • covering training,
  • IT systems,
  • set up time and costs, etc. 

As well as, this there are the costs of following the rules:

  • responding to queries,
  • sending out information,
  • following up requests to delete data/change data/report data,
  • interacting with the authorities,
  • insurance costs
  • etc.

At this point the next step is to identify what it is you need to do to comply with the GDPR requirements. Let us know if you need any assistance on this.

All of these costs fade into insignificance against the potential cost of the loss of reputation from not fulfilling the GDPR rules correctly (which is far more than any fine, penalty or corrective action that may be officially applied).

Secure Business Data

We are here to help you secure your business data using cutting edge technology.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram