A global movement towards increased data privacy is changing the way companies do business. The EU GDPR has become the gold standard for individual privacy and many governments around the world are developing similar legislation.
While such change can seem to be a threat to business, it isn’t. It can offer the motivation to work in a better way and seize a competitive advantage. Are you ready for the new era of data privacy?
Consumers are increasingly concerned about how organisations use their personal data and expect robust protection. Those with the best answers to these customer questions see a huge uplift in reputation, customer trust and loyalty.
With that in mind, the best approach to new privacy legislation is to embrace its spirit, rather than treat it as a tick-box compliance exercise.
By taking an organisation-wide approach to data management, implementation is simpler, all consumers get a consistent experience and new insights emerge from the information. Getting data privacy right drives competitive advantage.
Our practical approach to data privacy ensures compliance while creating competitive advantage. Having completed over 50 data privacy programmes around the world, we bring:
Generating valuable insights from data and ensuring long-term compliance with privacy regulations drives business value, so that’s where we focus.
To create the most value, you need an unbiased view of data protection, cyber security, regulation and compliance, risk management, and business change – a view our diverse team of experts provides.
We have the frameworks and experience to help you develop your privacy strategy and implement it at pace.
The EU General Data Protection Regulation (GDPR) means any organisation handling information on EU based data subjects needs to take a more proactive approach to managing personal data.
Those organisations have a choice – they can treat the EU GDPR as a compliance issue or use it to better manage personal data. Choosing the latter will help inform decisions and create a better experience for customers.
Even if Brexit removes the legal obligation to follow the EU GDPR when handling the data of British citizens, such potential benefits make embracing the spirit of the regulations the right thing to do.
In the US, lawmakers are rapidly prioritising privacy. The California Consumer Privacy Act (CCPA), for example, brings GDPR-like regulations to most organisations with annual revenues of $25 million that handle data on Californian customers.
As with other regulations around the world, following the CCPA will win customers. And with other states, such as Vermont and New York, making privacy a legal priority, all organisations in the US should be working towards the most robust data privacy possible. Only then will they gain a true competitive advantage.