For the average US company, GDPR may seem half a world away and irrelevant. However, this “shot heard round the world” introduced an era of data privacy with far-reaching implications. Whether or not your business targets European Union (EU) residents, GDPR-compliant software helps US businesses in several unexpected ways.
GDPR-compliant software addresses key areas that include the following:
- Data protection principles – Software solutions should have a specific purpose for the data they collect. They should collect only necessary data and use the data solely for the stated purpose, removing it when no longer needed.
- User rights – The software should make it easy for users to access and correct their personal data. Additionally, it should be easy to find and delete user data upon request.
- Consent management – Software must provide for obtaining clear and informed consent before processing user data. This includes granular opt-in options for various data processing activities.
- Appropriate security measures – Mandated security measures include encryption of data during transmission and storage. The solution must also provide reasonable protections against data breaches.
- Privacy by design and by default – The software should include built-in privacy features, and default settings should prioritize user privacy.
- Third-party compliance – Any third-party services used by the software solution must also comply with GDPR. Additionally, compliance requires maintaining a list of external data processors.
For any business that wants to improve compliance and security, manage data better, strengthen customer relationships and stay competitive, GDPR-compliant software is a must.
Benefit #1: Streamlined Compliance and Peace of Mind
Achieving data compliance can seem like a daunting task. But most privacy regulations share several common elements. Consequently, prioritizing software solutions designed for GDPR compliance will also help business meet regulations such as California’s CPRA. Early adoption of privacy practices eases compliance with emerging regulations.
In addition, GDPR-compliant software automates many compliance processes, saving your team significant time and effort. For instance, these tools can help with tasks such as consent management, data subject access requests, and data breach notification.
Benefit #2: Enhanced Data Security
GDPR-compliant software prioritizes data security, a core principle of GDPR. This includes robust security features like data encryption and access controls. These safeguards apply not only to the data of EU citizens but also to all of your customer information. In an era marked by costly data breaches, this increased security proves critical.
Benefit #3: Improved Data Management and Efficiency
One hidden benefit of GDPR compliance involves better data management. To comply with GDPR, businesses need clarity around what data they collect, where it lives, and how it is used. GDPR-compliant software typically includes tools for data mapping and inventory.
These tools accomplish a dual purpose. In relation to GDPR, they make it easier for businesses to respond to data subject requests and conduct data protection impact assessments. They also provide a holistic view of the data landscape, leading to more organized and efficient information governance practices.
Benefit #4: Increased Trust and Credibility
At its core, GDPR focuses on empowering individuals with control over their personal data. By implementing GDPR-compliant practices, businesses demonstrate a commitment to data privacy and a respect for their customers’ rights. This transparency builds trust and fosters stronger customer relationships.
Benefit #5: Market Expansion and Competitive Advantage
Companies must comply with GDPR if they intend to operate in the EU or handle data of EU citizens. Using GDPR-compliant software from the start eases the path for US businesses to expand their operations into the EU market. Even in the US market, businesses that prioritize data privacy gain a competitive edge over those that treat personal data lightly.
Investing in GDPR-compliant Software Helps US Businesses
Using GDPR-compliant software offers a win-win situation for US companies. It streamlines compliance, strengthens data security, improves data management, and fosters trust with customers both at home and abroad. In short, it makes good business sense.
For help in evaluating software options and achieving GDPR compliance, turn to the information governance experts at Messaging Architects. We offer a range of compliance services, from data management and discovery to access management, security assessments, and compliance monitoring.
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