Complying with GDPR helps business benefit from it.
What compliance to GDPR would make customers realize is that you are a good keeper of data. The mandate of this new legislation is that every organization have a data protection officer, together with regular audits of data processing activities. A set of data protection principles under the GDPR has to be complied with to secure your data subjects’ personally identifiable information.
If there is a data breach, then its consequences can make your brand equity suffer; customers will defect and you have to face many escalating costs. The GDPR’s proposed security practices will help your business a lot since it will assure your customers of a secure data governance system in place.
A lot of enterprises in the UK has already experienced cyber-attacks and it is one of the big threats to businesses in the UK. These cyber attacks are getting wider in scale and sophistication but with a GDPR compliance framework in place, you cybersecurity practices will be extended.
The mandate of GDPR is that only a few professionals have access to critical data in your organization so that data does not fall into the wrong hands. When there is a data breach, the GDPR requires that it will be disclosed within 72 hours of its occurrence. GDPR compliance ensures improved data security.
You can cut costs by complying with GDPR since any data inventory system and legacy application are to be retired if they are no longer relevant to the business. Following GDPR’s ruling to discard irrelevant data and keep your inventory updated will help you reduce the cost of storing data. Following GDPR’s ruling will also free you from data maintenance costs.
Another benefit of GDPR compliance is that your organization can effectively engage with customers. Becaue of the detailed information collected, you get more personalized communication with your customers and you save from pursuing customers that are not interested.
GDPR compliance can be extended to having your organization move towards improving your network, endpoint, and application security. If your organization migrates towards the latest technologies, two purposes will be served. You can effectively manage the growing demand for data, and it allows you to offer end-users products, services, and processes that are augmented.
With third-party management tools, your organization can constantly monitor its new environment for any data breach. These tools can help you monitor log data and you can keep a tab on data transferred outside your environment. Your network files and folders can be checked for its integrity by these tools together with endpoint devices and applications, and on the cloud. When an anomaly is detected, most third-part tools send out an alert notification so that you have time to avert any compromise.