What are the benefits of GDPR for businesses?
For companies that do business with the EU, it’s time to prepare yourselves for the GDPR to come into effect. Despite what may seem like a period of difficulty and uncertainty, there are many benefits in the long run to businesses. This article outlines five ways that the GDPR could benefit your business.
- GDPR provides an incentive to protect data more securely
GDPR means that there will be one set of rules that covers multiple countries, making it much easier to comply with privacy rules. Companies will need to rewrite privacy policies and handle their data differently. However, it’s much easier to work with one set of rules. Ensuring compliance also means it will be easier to keep data centralized and locked down.
- It makes it easier to avoid bad PR
Inconsistent data protection rules across Europe often made it difficult for businesses to effectively keep their data secure and separate. Now, however, data can be kept securely as there’s no reason to separate it among different servers to comply with different regulations. This is great regarding stopping data breaches in their tracks before they can cause serious damage. It may seem like a simple concept, but when your company data is kept behind stronger security measures, people snooping around are less likely to be able to access it. If such people aren’t able to access your valuable data, there won’t be a security breach, meaning that they’ll be no bad PR about this.
- You can now report to one agency
When data is breached, investigating this has often been a tricky process as each country has its own rules when it comes to targeting cybercrime. Now, however, one leading authority in each state has the legal right to take action and to work with local authorities on the problem, centralizing the reporting process. Ideal. Every country can now work together, no matter where you are.
- Being ‘Cyber Safe’ could translate to greater customer loyalty
Being certified as GDPR compliant is going to be a major plus in marketing terms, boosting your business’s reputation as secure in the eyes of potential customers. Having a reputation for being cyber safe will bring numerous advantages regarding attracting customers, creating a major boom for your business. Winning.
- It could knock down unnecessary costs
Before GDPR, many businesses found themselves creating unnecessary copies of digital data which they are now paying to keep and store. GDPR means businesses can reduce or remove extra copies of data that are no longer needed, significantly cutting costs in this region.
If you would like any further advice on marketing for yourself or your business, then contact Shamshad directly on Shamshad@shamshadwalker.co.uk or call 0115 880 0247