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CEO ADVISES GLOBAL COMPANIES NEED TO ACT FAST TO COMPLY WITH NEW E.U. SCHREMS-II RULING

DALLAS, Tex. – Aug 6, 2020 – EPSoft® Technologies Chairman and CEO Gopal Parvathaneni today announced that the software company is prepared to offer internationally compliant data management services to global organizations facing sudden compliance challenges in the wake of the Schrems II decision by the Court of Justice of the European Union (CJEU). Additionally, the company says its rapid-assessment virtual workshops and its software’s prescriptive-like methodology provide businesses better options for ongoing compliance in unpredictable legal climates.

The CJEU decision, issued July 16, 2020 and adopted July 23, 2020, determined that the Privacy Shield, the framework previously declared adequate for General Data Protection Regulation (GDPR) compliance, is no longer valid. The decision focused heavily on the United States’ surveillance practices. While it applies to any organization transferring personal data outside the European Economic Area, it is particularly significant to organizations operating between the U.S. and the European Union. In a series of published FAQs, the CJEU also declared the ruling effective immediately with no grace period, leaving businesses scrambling to comply with the sudden reversal of regulations.

Mr. Parvathaneni cautions global businesses that the onus is on them to maintain compliance and that they need to act fast. “If your organization has relied on the Privacy Shield as the framework for compliance until now, your data transfers became illegal in the E.U. as soon as the ruling was finalized, so time is not on your side” says Parvathaneni. “Unfortunately, the encumbrance of compliance falls to the organization, which means dedicating unexpected time and resources to addressing it. The faster they can reach compliance, the better businesses will be for it.”

One of the biggest challenges many global organizations will face is determining precisely which data is going where, and what needs to be done. Some data will be able to be maintained in its current state, some will require additional safeguards for transfer security, and some will have to be relocated altogether. Parvathaneni explains that effective data is critical not just in the midst of evolving regulations, but also in the changing business landscape. “On the heels of a pandemic and now a justice decision that affects the entire global business community, companies must be able to adapt quickly and effectively use their data any time they need to.”

Mr. Parvathaneni says there are opportunities to quickly accomplish E.U. compliance with the latest ruling using EPSoft’s Intelligent Automation Platform, an intuitive self-service solution for managing complex data systems. As he explains, the EZFlow component of the platform is an ideal solution for GDPR compliance and the Schrems II decision.

“As part of the Intelligent Automation Platform, EZFlow helps organizations quickly assess their current data situation and mobilize solutions fast,” says Mr. Parvathaneni. “With our rapid-assessment virtual workshops, we are able to provide smart recommendations to help get businesses back to full compliance as quickly as possible, all while maintaining operational efficiencies. Regulatory compliance is of the utmost importance for global businesses, and we want them all to know there’s an easier way of maintaining and managing it.”

About EPSoft Technologies

EPSoft Technologies (www.epsoftinc.com) is a global software company that leverages smart software tools and big data management solutions that optimize end-to-end operations and produce impactful results. Since 2015, EPSoft has applied its deep expertise in business processes and robotic process automation to help organizations across the world solve some of their most critical problems. EPSoft is based in Dallas, Texas, with additional locations in Canada and India.

For more information:

Katie Oliver
Chief Marketing Officer

 katie.oliver@epsoftinc.com
+1 954 292 6875

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