GDPR’s hidden benefits: It’s not just about avoiding big fines

With less than a year left until the General Data Protection Regulation (GDPR) comes into effect, there have been countless articles, tweets and thought pieces highlighting all of the negatives about the regulation: namely the big fines for non-compliance. However, if you look beyond some of this negativity, embracing GDPR can actually be a rather significant blessing in disguise.

GDPR gives you the opportunity to…

…gain more clarity on the framework in which your business operates in

UK organisations have been subject to the Data Protection Act since 1998. GDPR covers all of the same key principles which underpin the Data Protection Act, however GDPR takes these principles and refines them. The more specific principles will help organisations understand what good compliance looks like and the clearer rules help inform what you are able to do with people’s personal data.

…encourage clients to engage with the business online

One of the main reasons for bringing in GDPR was to increase public awareness of data protection. With clients aware that organisations have to be more stringent with their data management and use, they are more likely to trust companies with their personal data online and be more confident that their data will be safe and used appropriately.

…realise greater efficiencies in data processing, collect more accurate data and verify more effectively

If you know where your data is and what data you store across the organisation there is an opportunity to ensure that data is consistent and of the best quality. This increased understanding will help companies better understand their processes, aid decision making and whether there is duplication of data across departments. These will all lead to increased efficiencies and performance throughout the business.

…prioritise data projects

Once compliant, organisations will better understand the value in their data and what benefits they can ascertain from having good data by the time GDPR comes into effect. Data mapping could mean organisations can undertake better impact analysis when things go wrong and reduce system inefficiencies.

…gain competitive advantage

There is an opportunity for businesses to use GDPR to illustrate to their customers how seriously they take security of their data; something which is expected to play a stronger role in consumer choice. They can present themselves as a fast mover in the industry, ahead of the competition. However, it will only be a competitive advantage if businesses gets it right.

Here at Nine Feet Tall, we are experienced at leading complex change projects from start to finish. Whether you’ve only just begun looking at how to prepare for GDPR, or want to maximise the opportunities that compliance can provide, we’re can provide the expertise that your organisation needs. Contact us today and book your free consultation.

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