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Zoho Finance Plus & the GDPR
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}); </script> </form> </div> <div id="ZI-load" class="loading-container" style="display:none"> <div class="loading-bg"></div> <div class="loading-popup"> <div class="loading-progress"><div class="loader"></div></div> <h3 id="loadingaccmsg">Creating your Zoho Finance Plus account!</h3> <p>While we set up your account, please remember to verify your account by clicking on the link we sent to your registered email address.</p> </div> </div> </div> </div> <div class="product-header"> <div class="product-header-inner"> <a class="prd-logo financeplus-logo-white" href="/financeplus/"></a> <span class="sub-menu-icon">Menu</span> <ul class="product-menu scale"> <li class="pricing"><a href="/financeplus/pricing/">Pricing</a></li> <li class="resources"><a href="/financeplus/resources">Resources</a></li> <li class="contact-support"><a href="/financeplus/contact-support">Contact Us</a></li> </ul> </div> </div> <div class="product-header-top slide"> <div class="product-header-inner"> <a class="product-logo" href="/financeplus/">Finance Plus</a> <span class="sub-menu-icon">Menu</span> <div class="signing"> <a class="signup" href="/financeplus/signup/">Sign Up Now</a> <a class="signin" href="https://accounts.zoho.com/signin?servicename=ZohoFinancePlus&signupurl=https://www.zoho.com/financeplus/signup/index.html">Sign In</a> </div> <ul class="product-menu scale"> <li class="pricing"><a href="/financeplus/pricing/">Pricing</a></li> <li class="resources"><a href="/financeplus/resources">Resources</a></li> <li class="contact-support"><a href="/financeplus/contact-support">Contact Us</a></li> </ul> </div> </div> <div class="header-wrapper"> <h1>Zoho Finance Plus & the GDPR</h1> <p> The General Data Protection Regulation (GDPR) is a European Union regulation that contains principles and guidelines for businesses about protecting the personal data of EU residents. It is coming into effect in the EU on 25 May 2018, and the Zoho Finance Plus’ feature enhancements will help you stay GDPR compliant. </p> </div> </div> <section class="key-principles"> <div class="principles-container"> <h2>Key principles for processing personal data</h2> <p class="desc"> GDPR has laid down six key principles for organizations, based on which they should process personal data. It mandates that personal data shall be: </p> <ul> <li>Processed lawfully, fairly and in a transparent manner;</li> <li>Collected for specified, explicit and legitimate purposes and not further processes for other purposes;</li> <li>Adequate, relevant and limited to what is necessary;</li> <li>Accurate and, where necessary, kept up to date;</li> <li>Kept for no longer than necessary;</li> <li>Processed in a manner that ensures appropriate security of the personal data.</li> </ul> </div> </section> <section> <div class="compliant-container"> <h2>Should your business be GDPR compliant?</h2> <img src="/financeplus/images/gdpr/compliant.svg" > <p class="desc"> If you’re a business in the EU or have customers or vendors there, it is mandatory that you are GDPR compliant. So, it is important to take the necessary steps to be GDPR compliant. And we are here to help you be compliant. </p> </div> </section> <section class="consequences-section"> <div class="consequences-container"> <h2>What happens if you don’t comply with GDPR?</h2> <p class="desc"> Businesses that are found to be in violation of GDPR will have to pay a fine of 20 million Euros or 4% of their preceding fiscal year turnover (whichever is greater). </p> </div> </section> <section> <div class="gdpr-terms-container"> <h2>Key GDPR Terms</h2> <ul class="terms-list"> <li> <div class="terms-title"> Personal Data </div> <div class="terms-desc"> It means any information relating to an identified or identifiable natural person (‘data subject’); an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person. </div> </li> <li> <div class="terms-title"> Data Subject </div> <div class="terms-desc"> It is any person whose data you collect, store or process. In a business, usually, employees, customers and vendors are the data subjects. </div> </li> <li> <div class="terms-title"> Data Controller </div> <div class="terms-desc"> It means the natural or legal person, public authority, agency or other body which, alone or jointly with others, determines the purposes and means of the processing of personal data. In other words, it is the person or business who collects, stores and processes the data for various purposes. </div> </li> <li> <div class="terms-title"> Data Processor </div> <div class="terms-desc"> It means a natural or legal person, public authority, agency or other body which processes personal data on behalf of the controller. For example, if you use Zoho Finance Plus to manage your accounting, Zoho Finance Plus will be your data processor. </div> </li> </ul> </div> </section> <section> <div class="commitment-container clearfix"> <img src="/financeplus/images/gdpr/commitment.svg" class="commitment-image" > <div class="commitment-desc"> <h2>Zoho’s Commitment to GDPR</h2> <p class="desc">At Zoho, we always believed in keeping our user’s data private and secure. We never share our user’s data with any third parties unless a user requests it explicitly. We are sincerely committed to keep our user’s data safe and to fully comply with the GDPR.</p> </div> </div> </section> <section class="data-subject-section"> <ul> <li> <h2>Know the rights of a Data Subject</h2> </li> <li> <div class="data-subject-title">Right to be Informed</div> <div class="data-subject-desc">Data subjects have the right to be informed of how, when and where their personal data is being used.</div> </li> <li> <div class="data-subject-title">Right to Access</div> <div class="data-subject-desc">Data subjects have the right to access their data and verify that the processing of your data is lawful, at no charge.</div> </li> <li> <div class="data-subject-title">Right to Rectification</div> <div class="data-subject-desc">Data subjects have the right to correct any inaccurate information about them that is stored with you.</div> </li> <li> <div class="data-subject-title">Right to be Forgotten</div> <div class="data-subject-desc">Data subjects have the right to have their personal data deleted.</div> </li> <li> <div class="data-subject-title">Right to Data Portability</div> <div class="data-subject-desc">Data subjects have the right to export their data from your system in a machine-readable format.</div> </li> </ul> </section> <section class="data-section"> <div class="collector-container"> <h2>Zoho Finance Plus as a Data Controller</h2> <ul> <li> <img src="/financeplus/images/gdpr/data-access.svg" > <div class="data-title"> Data Access and Rectification </div> <div class="data-desc"> You can view your personal data in the organization profile of a Zoho Finance Plus product and update it as needed. </div> </li> <li> <img src="/financeplus/images/gdpr/data-portability.svg" > <div class="data-title"> Data Portability </div> <div class="data-desc"> You can export all your data from Zoho Finance Plus in a machine-readable format and you can protect the exported files with a password. </div> </li> <li> <img src="/financeplus/images/gdpr/data-erasure.svg" > <div class="data-title"> Data Erasure </div> <div class="data-desc"> When you delete an organization, all your data is deleted from Zoho except the data that is needed to fulfil our contractual obligations. </div> </li> <li> <img src="/financeplus/images/gdpr/data-usage.svg" > <div class="data-title"> Data Usage </div> <div class="data-desc"> Our <a href="/privacy.html" target="_blank">Privacy Policy</a> explains in detail as to how, when and where we use your data. </div> </li> </ul> </div> </section> <section class="data-section"> <div class="processor-container"> <h2>Zoho Finance Plus as a Data Processor</h2> <ul> <li> <img src="/financeplus/images/gdpr/data-access.svg" > <div class="data-title"> Data Access and Rectification </div> <div class="data-desc"> If your data subject invokes the right to access or rectification, you can direct them to access their personal data in the Client or Vendor Portal and correct them as required. </div> </li> <li> <img src="/financeplus/images/gdpr/data-erasure.svg" > <div class="data-title"> Data Erasure </div> <div class="data-desc"> If your data subject invokes the right to be forgotten, it is the responsibility of a data controller to delete all the personal data of the data subject. In Zoho Finance Plus products, since financial transactions are created using your customer or vendor’s personal data, we do not allow you to delete the contacts unless all the associated transactions are deleted. In this case, you can edit the contact and delete the Personally Identifiable Information of your customers or vendors in Zoho Finance Plus products. However, if you want to delete all the personal data of a contact, then you can delete them after deleting all the associated transactions. </div> </li> <li> <img src="/financeplus/images/gdpr/data-encryption.svg" > <div class="data-title"> Data Encryption </div> <div class="data-desc"> The sensitive personal information of data subjects in Zoho Finance Plus products is encrypted and stored securely. You can use the encryption option in a custom field to encrypt and store other personal data. </div> </li> <li> <img src="/financeplus/images/gdpr/personal-data.svg" > <div class="data-title"> Control over access to personal data </div> <div class="data-desc"> Provide role based access to keep the personal data of your customers and vendors secure and restrict others from accessing it. </div> </li> <li> <img src="/financeplus/images/gdpr/audit-trail.svg" > <div class="data-title"> Audit Trail </div> <div class="data-desc"> Zoho Finance Plus product’s Audit Trail feature will enable you to track every change that is made to a transaction. This will help you during auditing to know when, how and who accessed the personal data. </div> </li> </ul> </div> </section> <section style="padding-top: 0;"> <div class="disclaimer-container"> <p class="desc"> <b>Disclaimer:</b> The content provided here is not to be taken as legal advice. 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