Kira’s state of the art machine learning technology automatically identifies and extracts information from contracts and comes with 35 data protection built-in provision models. If the compliance review requires the identification of additional or unusual information, Kira Quick Study can be used to identify virtually any desired clause. Using Kira’s intuitive user interface, organizations gain an immediate high-level understanding of the potential impact that the GDPR will have on their documents and can quickly tailor and export summaries of non-compliant or potentially problematic provisions that require revision.
Avoid significant GDPR penalties with fast, accurate document reviews
The broad application of the GDPR, which aims to strengthen data protection for EU residents, will impact any company doing business in the EU. This places a significant burden on companies all over the world to ensure they understand what EU personal data they are collecting, processing, using and storing, and take appropriate action before GDPR comes into effect on May 25, 2018. Organizations may struggle to grasp the potential impact of the GDPR without first completing a lengthy and expensive review of their contracts, which can leave little time for proper implementation of any changes.
The penalties for non-compliance are steep: if a company is found to be in breach of GDPR, the fines can be as high as €20 million or 4% of a their annual worldwide revenue in the preceding year, whichever is greater.
Kira can quickly review large volumes of legacy and third party vendor contracts and highlight many of the contractual requirements listed in Article 28 of the GDPR. Kira will automatically provide a bird’s eye view of the data protection provisions that are present (or absent) across large volumes of contracts, and the software’s workflow tools allow for quick and accurate reviews. This enables organizations to begin preparing a remediation plan immediately and ensure a GDPR project doesn’t interfere with the other critical work the organization may be engaged in.