The GDPR is set to be introduced on 25th May 2018, with the EU seeking to introduce the idea in order to consolidate data protection and encourage companies to handle data carefully and securely. Regardless of the UK’s decision to leave the EU, GDPR will still come into action in the UK at this time, so all businesses will be affected by this new regulation.
An introduction to the GDPR
The GDPR will affect all companies that handle, process or store any EU Personally Identifiable Information. Essentially this covers any data that could be considered “personal” data and be used to identify a specific person. The GDPR will mean that organisations are all held to the same high data protection standards in order to provide the most secure service for their customers, as well as their employees and own internally data.
Consequences of incompliance
As with any legally binding regulations, companies failing to adhere to these guidelines will face penalties such as legal action and large fines – which could be up to 4% of global annual turnover – a huge amount for the largest multinational corporations and SMEs alike. Along with fines, legal action taken against companies by customers whose data is not sufficiently protected according to The GDPR could have longer implications of brand damage and distrust – so the GDPR is in place to protect organisations from being in this position too.
How can your CRM help with GDPR compliance
Did you know that your CRM could actually help you to ensure that your company is fully GDPR compliant? It helps in a number of way, the first of which is managing consent. Once the GDPR comes into action, companies can only contact people who have opted in to receive communications, and a CRM system enables companies to track initial contact and subsequent contact points thereafter across all platforms. This is useful to prove compliance with these GDPR requirements.
Storage is another area CRM helps with because it can contribute to greater security and protection of data, and the risk of data breaches can be minimised using internal tools that limit access to different data where necessary. At the same time, MarketDeveloper’s unique CRM provides accurate tracking and recording of all customer information in one single place (SCV) to allow a complete overview that makes GDPR easier and proof of compliance much simpler.
GDPR compliance means happy customers
Protecting your customers data should be important to all companies, and customers are more and more keen to hold companies to account for protecting their personal information. Implementing a CRM system could make it much easier to prepare for GDPR compliance ahead of the changes coming in May 2018. Get ahead by calling MarketDeveloper to find out more today on 01784 432 082.