From 25th May 2018, the enforcement of European Union General Data Protection Regulation (GDPR) replacing the EU’s Data Protection Directive of 1995, showed a remarkable change in the way personal data of European Union (EU) citizens is administered. Irrespective of the place where they reside GDPR is applied to all the companies that process personal data of the citizens of EU. The ultimate goal of the regulation is to empower individuals over their personal information and make organisations vivid and transparent over the handling of the same.
The customers now have the right to be enlightened regarding the manner in which their data is being used, the right to condemn any discrepancies, the choice and right pertaining to its access, deletion or correction of information. Basically the regulation introduced an epoch of consent and accountability.
The message conveyed by the GDPR is simple and goes as: “Consumer information is and deserves to remain private. So anything you do to stay in compliance will help you overall.”
Consent plays a leading role under the new rules. Any violation or breaches would cost the companies dearly and result in penalties. It had been a matter of major concern for the companies to gain data from consumers post GDPR.
Here are a few ideas to take on with the new rule:
What about the data which has already been shared? The existing customers who gave their nod earlier need not worry as the the data shared pre-GDPR will not be identified under it. And hence the companies will have to get the consent all over again. Businesses need to be completely transparent with how they process the customer’s data. This will encourage the level of trust required for establishing the long term and high-value customer relationships.
To keep up the customers occupied with the respective markets, the companies will have to come up with new offers. The actions, targeting the interests of customers and their gain on sharing information, are the need of the hour for the organisations. It will help the organizations in convincing customers to share data by increasing “opt-in” options and by changing the way of presenting content to them.
Ensuring Third Party Compliance
Compliance with the GDPR and gaining consumer’s trust to share data are in the easy hands of the company (controller) but besides the companies, the third parties too will have to comply with the new policy. Third party marketers are very necessary for the controllers (like E-mail service
providers) since they have an important part to play by interacting with the customers and their data. Therefore ensuring any third party associate’s compliance with the GDPR and keeping regular check whether they have done the required or not.
Why not give this suggestion a go on a trial basis?
Establishing the confidentiality of the buyer’s personal info by:
Hiring a Data Protection Officer (DPO)
Ensuring a privacy by creating tools
Integrating the IT Department
Man less Compliance Technique
Complying with the GDPR is no small task. Companies will have to shell out a huge amount of money in order to put systems and processes in place to meet the standards of the newly mandated regulation policy. Apart from human involvement, organizations must also focus on the various technological methods and techniques for the same. These may include the revolutionary AI based platforms and specialized computer based software.
We are all aware of Cambridge Analytica’s/Facebook’s alleged involvement in the breaching the privacy of their customers/users and manipulating their data for some political gains/affecting US Presidential Elections in 2016 and the massive scare it inculcated among its users worldwide.
After this news breakout, the new data regulation policy was very much needed and provided
a huge sigh of relief to the people.
Let’s hope that EU’s implementation of GDPR serves as an example for other organizations globally to follow in their foot steps and enforce, not just on paper, the same very soon.