If a business complies with GDPR, then it can have many benefits from it.
If your business complies with GDPR, then your customers will have proof that your organization keeps their data well. The reason for this is that the GDPR requires that a data protection office be a part of your organization, and that data processing activities should be audited regularly. Your organization also has to comply with a set of data protection principles under the GDPR so that personally identifiable information of your data subjects’ are kept secure.
You can ruin your brand equity with a data breach and your customers will defect and costs escalate. With GDPR’s proposed security practices, the reputation of your brand will be boosted because it will show your customers that you have a robust data governance system in place.
Many firms in the UK has encountered cyber attacks and this makes cybersecurity breach a big threat to businesses in the UK. Each day, the scale and sophistication of cyber-attacks is growing, but your cybersecurity practices will be extended with the GDPR compliance framework in place.
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. Disclosure of a data breach should be done within 72 hours in compliance with GDPR requirements. GDPR compliance ensures improved data security.
Complying with GDPR can help your business cut costs since you are to retire any data inventory system and legacy applications that have no longer any use for 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.
Effective engagement with customers is another benefit of GDPR compliance. Your communication with your customers will be more personalized with the detailed information collected from them and you save from pursuing customer that are not interested.
GDPR compliance can be extended to having your organization move towards improving your network, endpoint, and application security. There are two purposes for migrating towards the latest technologies. One purpose is to effectively manage the growing demand for data and another purpose is to allow you to offer end-users products, services, and processes that are augmented.
The new environment of your organization can be monitored for any data breach with third-party management tools. You can monitor log data with these tools and data transferred outside your environment can be kept a tab of. Your network files and folders can be checked for its integrity by these tools together with endpoint devices and applications, and on the cloud. In order to give you time to avert any compromise, most third-party tools send out an alert notification when an anomaly is detected.