Top 4 Positive Implications of GDPR
The General Data Protection Regulation or GDPR, is one of the hottest topics of discussion among business owners.
FREMONT, CA: The GDPR is a privacy regulation that will apply to all businesses that sell to and store personal information about citizens in Europe, including non-EU companies around the world. This new data protection regulation puts the customer in the driver’s seat, and the task of complying with this regulation falls upon businesses. Otherwise, companies will fail to comply. GDPR has changed a lot of things for companies like the way sales teams prospect or the way that marketing activities are carried out. Firms have had to review business processes to be compliant. Here is more about the favourable implication of GDPR.
• Enhanced Cybersecurity
Organisations were continuously battling with cyber threats. Security upgrades in networks, servers and infrastructures have been a significant source of cyber protection along with other policy and security changes until recently. The passing of GDPR has directly impacted data privacy and security standards while also encouraging organisations to develop and enhance their cybersecurity measures, limiting the risks of any potential breaches.
• Standardisation of Data Protection
Data Protection Agencies from each nation assess GDPR compliance. Although independent agencies carry out these compliance audits, the EU-wide standardisation of the regulatory environment makes sure that once an organisation is GDPR compliant, they are free to function throughout all European without being needed to deal with each countries’ data protection legislation.
• Brand Safety
Data breaches have a monumentally devastating impact on the reputation of an organisation. Users and customers value their privacy, and their confidence can be irrevocably damaged if a breach of data occurs, and their information is compromised. On the opposite end, lies a customer that is more than willing to share their private information as they believe their data is being stored and used in compliance with GDPR.
• Loyal Customer Following
One of the primary reasons for the formation of GDPR was to enable consumers to spend more time on the sites they enjoy without being overwhelmed with advertisements. Users and customers are far more likely to accept the mandatory opt-in from businesses they are interested in. A consumer that subscribes to an organisation will be one that has qualified their interest with subscriptions becoming a sign of loyalty.