Europe enforced the GDPR in 2018, California enforced CCPA in 2020 and with an increasing number of jurisdictions across the world introducing similar Data Privacy Regulations we see a growing problem for organisations with a global customer base. With data privacy regulations at various stages of maturity and conflicting regulations across the world this problem introduces significant potential risks.
To mitigate these risks and allow organisations to focus on their customers/clients, it is paramount to have a single customer view that includes a time stamped consent and preference audit trail. Marketers working from a trusted, up-to-date single customer view benefit from having all activities synchronised and controlled compliant communications.
It’s more than just ticking boxes as organisations need to keep up-to-date with customers’ obligations. Elizabeth Denham, Information Commissioner, summarises this well by saying: “People’s personal data is just that-personal. When an organisation fails to protect it from loss, damage or theft it is more than an inconvenience. That’s why the law is clear - when you are entrusted with personal data you must look after it.”
Organisations are dealing with more than just data as they have a duty of care to the individual along with protecting their reputation. The risk goes far beyond just complying with regulations as it could lead to reputational damage, breaking trusted relationships and a loss of revenue.
To see how our easy to use Consent & Preference Management platform can work in harmony with your existing systems to provide a Single Customer View contact us today