3 minute read
By Reka Sarudi
Posted in Customer Engagement
If you find it challenging to keep up with the latest data privacy and protection regulations, you are not alone: These measures are everywhere and maturing quickly -- placing extra burden on most organizations' shoulders.
The European Union's General Data Protection Regulation (GDPR) has been in effect since May 2018, and it is something of a standard-bearer. According to Gartner, "New privacy regulations, such as the GDPR, have just been introduced. Various states in the U.S. -- such as California -- are planning to do the same, and so are other countries, such as Brazil.1
Are Recent Data Privacy Laws Different?
The good news is that although the data protection landscape is constantly evolving, a number of these "GDPR-like" measures make similar demands. As Gartner sums it up in their report, Predicts 2019: The Ambiguous Future of Privacy, "Common requirements include the notion of legal and purposeful processing, the general consensus on consent, a customer's choice, privacy rights and the requirement to control the data throughout, including the end of its life cycle."2
With a number of regulations already in place around the globe and more expected to be implemented, your organization may need to address the requirements of multiple regulations -- and put in place the right people, processes and technology to comply. The fact that there is a level of commonality of purpose and intent within the regulations means that you can consider developing a cohesive approach.
How to Build a Culture of Compliance . . .
Each data privacy regulation has, and will have, its own unique components that must be accounted for in any compliance initiative. However, building a culture of compliance -- by supporting your staff in understanding the importance of good data protection practices -- can help you build a holistic compliance framework and better respond to similar regulatory requirements. These include maintaining data security, being transparent about your data collection and data management processes, and responding promptly in the event of an audit.
Adopting best practices that address these common principles can help you save time, effort and money, and reduce the risk of your business being fined or suffering reputational damage.
. . . Because Customers Expect It.
Besides, customers today expect organizations to maintain their privacy, and forward-thinking organizations recognize this. They view data privacy not only as an issue of compliance, but also as an essential component of a differentiated, comprehensive customer engagement strategy.
According to Verint research, carried out by Market Research Consultancy Opinium Research, 58% of consumers would never engage with a brand that experienced a data hack.3
Deploying the right tools and processes is an investment in establishing customer trust as a competitive advantage.
In need of a trusted partner?
With over 25 years of experience in enabling organizations to monitor and manage compliance as part of their customer service and engagement strategies, Verint is already helping thousands of businesses meet their compliance recording needs. Whether using the whole portfolio or a single solution, Verint's integrated platform and open APIs make it easier to consolidate an individual's data from across multiple systems, allowing it to be reliably identified, located and retrieved whenever required.
This can help reduce the risk of compliance failures and enhance your reputation as a responsible and trustworthy organization.
To learn more about the anticipated trends in data privacy measures and how Verint can be your trusted partner in tackling the latest challenges, we encourage you to sign up for our upcoming webinar series and visit our website.
1 Gartner, "Predicts 2019: The Ambiguous Future of Privacy", 14 November, 2018
2 Gartner, "Predicts 2019: The Ambiguous Future of Privacy", 14 November, 2018
3 Based on research conducted in 2018 with the involvement of 36,000 consumers in 18 countries.
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