Five worthy reads is a regular column on five noteworthy items we’ve discovered while researching trending and timeless topics. This week, we uncover some of the aspects of the GDPR that may go unnoticed.
The judgment day is finally here. With bated breath and eyes as wide as saucers, the world has been marking the days off the calendar—watching, expecting, waiting for May 25, 2018, the day the General Data Protection Regulation (GDPR) comes into effect.
While there’s been quite a bit of discussion about the GDPR, the bulk of the conversation has focused on the consequences of noncompliance. But what businesses often seem to forget is that there are two sides to every coin; if the GDPR brings with it the risk of being fined up to €20 million or four percent of your global turnover, it also brings along a host of opportunities and benefits that businesses should take advantage of. It is, of course, crucial to be aware of the price of noncompliance, but you should also keep in mind that the GDPR is not out to get organizations. The main aim of the GDPR is to build an environment of trust and loyalty wherein individuals feel comfortable trusting businesses with their personal information.
So, while everyone else is talking about compliance and penalties, you can take a different approach—one that focuses on the opportunities and virtues of the GDPR. On that note, let’s take a look at five articles that highlight the myriad of business benefits that the GDPR will bring.
- The Very Strong Business Case for Complying With the World’s Toughest Data Protection Regulation
The GDPR makes quite a strong case for compliance, and not just on the basis of the fines it can levy, but also on the strength of its merits.
- GDPR: A Cost vs. Benefit Analysis
Don’t make the mistake of brushing the GDPR off as a liability. Protecting customer data can potentially make or break your business.
- Data, trust and ethics – 2018’s key growth drivers
The GDPR is going to usher in an era of mutual trust between empowered individuals and dependable businesses.
- Five Benefits GDPR Compliance Will Bring To Your Business
From enhanced security postures and improved data management to improved customer loyalties and ROI, the list of GDPR perks just keeps growing.
- The opportunities in the GDPR
The GDPR is the key to a veritable treasure chest of competitive advantages that businesses can gain through compliance.
The GDPR is one of the most far-reaching regulations in the history of data privacy laws, and companies across the globe are feeling its sweeping effects. With data becoming the new currency in the present digital world, the GDPR is the tough love businesses sorely need. So, now that life has given you the GDPR, turn compliance into an opportunity; make some lemonade, kick back, and watch your business race far ahead of the pack.
How is your business handling the transition into this new age of data privacy and security? What do you think the benefits of the GDPR are? Let us know in the comments section below.