GDPR: Four opportunities for businesses to add value
Jason Dowling, CEO Red Flare, will be a speaker at Ireland’s GDPR conference Dublin Data Sec 2018.
Compliance to the General Data Protection Regulation (GDPR) should be seen by businesses as an enormous opportunity. Here are four ways to add value under the upcoming regulations.
Companies are now being forced by the new data protection regulations to review, revise and rethink all core processing functions. The two initial questions all CEOs/DPOs had to ask themselves were: What do we process? and: Why do we process it? The value-added role in this process was to ask the third question: How can we do it better? At the core level most established businesses will over time have accrued additional processes, captured extra data and inadvertently extended their exposure in the new world of data protection. The journey to compliance will force them to revise their core functions and find efficiencies in their data capture, data storage and date processing functions. This is an area where resources have not traditionally been allocated but the threat of monetary or reputational penalty has focussed companies on reviewing and refining these processes.
Whether you have been marketing to your customers or intend to market to your customers you must be able to stand over your consent collection and consent recording processes. The regulations are very clear on the requirement for consent to be collected in a clear and transparent way and that the consent has been documented. This is cause for a lot of organisations to worry about databases they have generated internally over a number of years without consent; marketing lists, email databases and potential sales lists.
A focused campaign of consent collection will allow a sales team/ sales manager to identify a more focussed list of truly engaged customers and potential customers. This process should have the potential to reshape the marketing campaigns around a focussed group of purchasers/ service users who want your product or service and want to engage with your company. We have clients that have been ‘selling’ for over 40 years, trying new sales strategies that they have never previously considered and to great benefit.
Service Level Operators
Differentiating your company in the market place as a Professional Services provider, a company operating on a SAAS model or as an Outsourced Service Provider or data processor is a difficult job. However, as customers and contracting organisations begin to wake up to GDPR and their own responsibilities therein, early adopters of GDPR best practice will afford themselves an opportunity to gain an advantage over competing providers and vendors when it comes down to the tendering process. Be a market leader and a standard bearer in your sector. Present your relevant compliance with the regulations and provide your customers and suppliers with the assurances they will require to continue with your services or choose you over your competitors.
No organisation wants to be ‘The One!’. The time to start your compliance journey is now, it’s not too late. Every organisation must allocate commensurate resources to ensure that their organisation can demonstrate compliance with the regulations or a clear plan to achieve compliance in a reasonable time frame. The decision now is how to add value in that process.
Dublin Data Sec 2018 is Ireland’s data protection event, taking place on the 9th of April at the RDS Dublin, click here for tickets and information.