The biggest mistakes in contract and data protection management
Careful contract and data privacy management is essential not only to avoid legal consequences but also to gain the trust of customers and business partners. Yet many companies neglect the importance of proper contract and data protection management, exposing themselves to unnecessary risks. In this article, you will learn about the possible faux pas.
1. Lack of document management
The lack of document management and inadequate security measures can lead to duplication of effort and a reduction in efficiency. In addition, the risk of data leaks increases.
2. Insufficient data protection clauses
Without data protection management, important information is missing from data protection declarations or contracts with third-party providers and customers, which can lead to high fines for non-compliance.
Attention: The lack of protection and handling of personal data often results in high fines.
3. Insufficient training for employees
Training for employees in data privacy and contract management is very important to make them aware of risks and avoid mistakes in the future.
4. Contracts are collected instead of managed
Relevant information can be lost and deadlines missed, for example. Contractual penalties or extensive and costly negotiations can be the result.
5. Decentralized storage of contracts
An overview is important! If contracts are not managed centrally, duplications occur and thus, for example, a lot of time can be lost when an authority makes an inquiry - additional work and costs are the results.
The importance of contract and data protection management
Effective document management and data protection practices are essential to avoid such costly and time-consuming mistakes. Use best practices to ensure all data is secure and contracts are managed efficiently.
With our partner ContractHero, we talked about the biggest contract and data protection management mistakes, in addition to the biggest benefits. This way to the blog post!