From GDPR to space contracts, here’s what’s going on in the news.
May 25 is here: the deadline for companies to comply with the General Data Protection Regulation, commonly known as the GDPR. The EU passed the law to put the regulations in place two years ago and organizations have been working towards compliance ever since. Even for companies outside the EU that are working with European companies, these regulations apply.
Google searches have long been tracked and increases seen as certain subjects arise in the news. For example, the Equifax data breach spiked searches for “data breach,” and the most recent issue with Cambridge Analytica increased privacy searches as well. With the GDPR on many people’s minds, this curiosity about privacy shows no signs of decreasing soon.
Wondering if Concord is GDPR-compliant? Good news—the platform is compliant and up-to-speed.
Space contracts? That’s what the Air Force just offered Lockheed Martin and Northrop Grumman, aerospace companies that are set to design and create orbiting satellites. This overhead persistent infrared (OPIR) program will replace the current system to increase security. The system is expected to go live in 2023, an aggressive timeline (current procurement processes are around nine years) that the Air Force cites as a target to move quickly and efficiently protect the nation.
As Amazon continues to be a leader in the e-commerce industry, one space they have not fully disrupted is home improvement products. A retail experience that often has difficulty translating to online sales, stores such as Home Depot and Lowe’s appear to be safe for now.
This was signified with the recent resignation of JCPenney’s CEO, Marvin Ellison, as he left to lead Lowe’s. With over 12 years of experience at Home Depot prior to his time at JCPenney, Ellison appears to be well-positioned for the role. Analysts speculate the leave may be due to the changing world of retail as larger companies like Amazon continue to move into the clothes and home goods industries. Following his departure, the JCPenney stock fell 8%, causing many to wonder if the retailer will soon fail. Yet the company showed drastic improvement under Ellison, with sales stabilizing and brand reinventions through Sephora pop-ups and other modern offerings. In today’s competitive retail market, the outcome still remains to be seen.
With rules and the way business is done constantly changing, making sure organizations are aware and up-to-date with the most recent regulations is critical for success. Starting with a GDPR-compliant contract management system is an excellent place to start. To find out more, schedule a demo with the form below.